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20915111
20915124

1570 IA-224, Kellogg, IA 50135

JF
IA IA B68919000, IL IL 471.020503 (+32)
Mr. Landman
Listed by Mr. Landman
$5,000,000
572 days on market
Updated 63 days ago

Kellogg RV Park

Details
APN 1401100012
Property Type Multifamily, Retail
Sub Type Convenience Store, Gas Station (+1)
Square Footage 1,896
Net Rentable (SqFt) 1,896
Units 38
Cap Rate 13.83%
NOI $691,265
Occupancy 50%
Pro-Forma Cap Rate 17.52%
Pro-Forma NOI $875,945
Price per SqFt $2,637
Class A
Year Built 1994
Year Renovated 2023
Buildings 2
Stories 1
Acreage 8.320
Zoning Commercial
Parking Spaces 100 per unit
Investment Type Stabilized
Ownership Fee Simple

Profitable RV Park & Gas Station on I-80 in Des Moines metro!

Marketing description

Located on 8.32 acres of commercially zoned land, Kellogg RV Park offers a unique opportunity to own a thriving hospitality business with multiple income streams. Built in approximately 1994, the park boasts 38 full-service pull-through RV sites, all equipped with 20/30/50 amp electrical pedestals, and additional primitive tent camping sites. Conveniently situated just off Interstate 80, this property benefits from high visibility, with an average daily traffic count of 29,200 vehicles, ensuring a steady flow of guests.

1. RV Sites and Amenities:

•38 pull-through sites with full utility hookups.
•Electrical pedestals upgraded with 20/30/50 amp service and larger wiring installed.
•Underground water lines made of Plastic/BLUE pipe and sewer lines made of PVC for durability and reliability.
•No deferred maintenance; all sites are guest-ready.
•Additional primitive tent camping sites for more rustic accommodations.

2. Facilities:

•Modernized bathhouses featuring 4 showers and 4 toilets.
•Recently remodeled laundry facility with updated interior and exterior.
•Well-maintained roads built with 3/4 chip and seal gravel in excellent condition, with potential for future asphalt upgrades.

3. Utilities:

•Operates on private well and septic systems, providing independence from municipal services.

4. Additional On-Site Businesses:

•Profitable Cafe: A favorite among guests for meals and refreshments.
•Convenience Store and Gas Station: Ensures additional income from fuel sales and essential items, increasing guest spend per visit.

Upgrades & Improvements:

•Complete interior and exterior remodel of the bathhouse and laundry facility.
•Installation of new, larger electrical wiring and upgraded pedestals.
•Addition of a Bocce ball court for guest recreation.
•Extensive landscaping enhancements, including new tree plantings and artistic wood carvings created from emerald ash borer-damaged trees.

Operational Highlights:

•Management and Staff: The park is operated by a manager and maintenance personnel, ensuring smooth day-to-day operations.
•Guest Profile: Approximately 50% of guests are long-term monthly stays, often workers at local job sites, while the remaining 50% are travelers and retirees staying overnight or for weekends. Many guests extend their stays, drawn by the park’s serene atmosphere.
•Rate History: Rates were last increased a year ago and are now competitively positioned between the cheapest and most expensive parks in the area.

Strategic Location:

•Immediate on/off access to Interstate 80, making it a convenient stop for travelers.
•Positioned to capture business from both overnight travelers and long-term guests.

Expansion Potential:

With room to expand, this property offers the opportunity to add more RV sites, tent sites, or additional amenities, further boosting revenue potential.

Owner Insights:

•The park is designed to maximize guest spending through its three-legged business model: RV park, cafe, and gas station/convenience store. This setup creates multiple revenue streams and provides above-average daily spending per guest compared to competing parks.
•Guests often extend their stays due to the park's peaceful setting, excellent amenities, and convenient location.

Kellogg RV Park is more than just an RV park—it’s a well-rounded business that captures revenue from multiple sources. With modern infrastructure, a prime location, and a proven record of profitability, this property is an exceptional opportunity for investors seeking a stable and scalable operation.

MR. LANDMAN, LLC is a licensed real estate firm in the State of Iowa under License#F06199000. Jonathan Fisher is a licensed broker in the State of Iowa under License#B68919000.


Location

Kellogg, Iowa, is a small town located in Jasper County, known for its tranquil rural setting and proximity to key highways like Interstate 80, making it easily accessible for travelers. The town's population is around 600 residents, fostering a close-knit community atmosphere. Kellogg benefits from its strategic location near I-80, which brings significant traffic—making it a great spot for businesses like RV parks, gas stations, and convenience stores. Despite its small size, the community is rich in charm and provides essential amenities to residents and travelers alike. This blend of historical significance, outdoor recreation, and convenient access makes Kellogg an appealing stop for visitors and an inviting place for business ventures.

Kellogg violent crime is 15.1. (The US average is 22.7)
Kellogg property crime is 17.6. (The US average is 35.4)

Kellogg has an unemployment rate of 4.5%. The US average is 6.0%.

Kellogg, IA, is strategically located near several metro areas within a five-hour drive. These include:

•Des Moines, IA: Approximately 45 minutes (44 miles).
•Cedar Rapids, IA: Around 1.5 hours (90 miles).
•Omaha, NE: About 3.5 hours (210 miles).
•Kansas City, MO: Roughly 4.5 hours (260 miles).
•Chicago, IL: Close to 4.5 hours (290 miles).
•Minneapolis, MN: Around 4.5-5 hours (300 miles).

This central positioning makes it an accessible spot for travelers and businesses alike.

Investment highlights

•Direct frontage on I-80 (29,500 VPD)
•Multiple revenue streams
•Immaculate property
•$500,000 solar array has eliminated $70,000 annual electric bill

Listing Contacts

JF
IA IA B68919000, IL IL 471.020503 (+32)
Mr. Landman
Listed by Mr. Landman

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Loan Amount
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Annual Cash Flow
$691,265.00
$57,605.42/mo

Valuation Metrics

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DSCR
13.83%
Cap Rate
13.83%
ROI

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Additional Information

Name
Jon Fisher
License
IA B68919000
Brokerage Phone
2172020924
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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