

Listed by Mr. Landman
$1,225,000
Shadybrook Camping & RV Adventures
Details
APN 1432200011
Property Type Multifamily
Sub Type Apartment Building, Multi Family 5+
Square Footage 3,500
Net Rentable (SqFt) 1,118,185
Units 72
Cap Rate 10.73%
NOI $131,496
Pro-Forma Cap Rate 12.13%
Pro-Forma NOI $148,543
Price per SqFt $350
Class A
Year Built 2017
Year Renovated ongoing
Buildings 4
Stories 2
Acreage 25.670
Zoning COMMR
Parking Spaces 144 per unit
Investment Type Stabilized
Occupancy Date 12/05/2024
Ownership Fee Simple
Gorgeous campground on I-80 in Des Moines metro!
Marketing description
Shadybrook Camping and RV Adventures, named the 2024 Hipcamp Best in Iowa Runner-Up, is a picturesque RV park conveniently located directly off I-80 in Earlham, Iowa, offering prime exposure to an estimated 30,000 vehicles per day. Constructed in 2017 and zoned commercial, the park spans a scenic landscape partially situated in a flood zone and features a blend of modern amenities and natural beauty. The park includes 60 RV sites, of which: *22 are full-service pull-through sites. *11 sites are equipped with 50-amp electrical pedestals. *27 sites offer 100-amp electrical pedestals. *35 sites provide water access, and 22 sites include sewer connections. *Additionally, 12 primitive tent sites are available, each with fire rings, picnic tables, auto access, and nearby restroom facilities. Shadybrook also features unique lodging options: *A 6-person cabin with full amenities, outdoor furniture, a firepit, grill, and picnic table. *A 2-3 person cabin with a new deck, grill, and linens included. *An ascending floating bed, a first in the U.S., with electric and water hookups. *A 33-foot, 3-slide KZ travel trailer that sleeps six, offering modern camping comforts. The park's 16x16 bathhouse provides showers and restrooms, while the onsite store caters to campers' needs with essentials like ice, firewood, and basic grocery items. A 1,578 sq. ft. lodge serves as the owner's quarters and RV office, featuring two bedrooms, one bathroom, a kitchen, living areas, laundry facilities, a two- car garage, and a 1,000 sq. ft. deck. Over the past 3-5 years, the park has invested in numerous upgrades, including: *Adding 22 full-hookup pull-through sites. *Installing a new Delta septic system and Coco filter septic system. *Completing plumbing groundwork for a second restroom/shower/laundry facility. *Updating cabins, the shower house, and playground equipment with new stains and sealers. *Enhancing the landscaping and grounds with fresh updates. Unique Features of Shadybrook Camping & RV Adventures: *Named the 2024 Hipcamp Best in Iowa Runner-Up for its exceptional amenities and scenic beauty. *Bear Creek flows year-round through the property. *Ample open spaces, old-growth oak trees, and abundant wildlife create a serene and scenic atmosphere ideal for gatherings and events such as weddings and family reunions. *Close proximity to Des Moines (15 minutes), lakes for fishing and swimming, Madison County's famous covered bridges, shopping, wineries, cideries, hiking trails, and the John Wayne Birthplace & Museum. *Community firepit, two playgrounds, a shelter house, and pet friendly policies (excluding buildings). Operational Highlights of Shadybrook Camping & RV Adventures: *60% of guests are overnight or weekend visitors, 20% are monthly, and 20% are seasonal. *The park has staff onsite, including a manager and a maintenance technician. *Roads are gravel and in good condition, with city water and PVC plumbing for both water and sewer lines. *Electric meters are installed at 22 sites for guest billing. Shadybrook Camping and RV Adventures offers room for expansion and is well-positioned to attract both short-term and long-term campers. Recently recognized as the 2024 Hipcamp Best in Iowa Runner-Up, this property presents an exciting opportunity for buyers seeking to operate or grow a thriving RV park.
Investment highlights
•Newer park in great condition!
•Direct access and visibility to I-80 (Over 29,000 VPD)
•Des Moines Metro
•City water!
Listing Contacts


Listed by Mr. Landman
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$131,496.00
$10,958.00/mo
Valuation Metrics
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DSCR
10.73%
Cap Rate
10.73%
ROI
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