Smith River RV Park
Smith River RV Park | 122 RV Sites | Seller Financing Available
Marketing description
Seller Financing Available at List Price: The seller is offering $3,095,000 in first-position financing at 5.25% fixed interest, structured with 24 months interest-only payments to support the lease-up period, followed by 30-year amortized payments through a 5-year balloon. Buyer equity required at closing is $1,000,000 plus closing costs. This financing structure materially improves day-one cash-on-cash returns and aligns seller and buyer through the stabilization period.
Smith River RV Park is a 122 (RV) + 5 (Tent) site riverfront outdoor hospitality investment offering full-hookup RV sites plus 5 tent sites on ±74.41 acres along the Smith River in Henry County, Virginia - with approximately 3,200 feet of prime river frontage. This is a scarce, irreplaceable natural asset in a high-demand outdoor recreation corridor.
The park is currently 80% occupied, providing a stabilized monthly cash flow base. The path to stabilization is operational: improved transient marketing, rate optimization, and digital booking optimization - with no redevelopment required.
The property includes a 5,000 SF general store, a 1,200 SF updated bathhouse with coin and app-pay laundry, on-site management and maintenance staff, and a CampSpot booking system already in place. Major infrastructure upgrades were completed in 2020, with county water and sewer to all sites and underground electric service throughout.
Adding further upside, the ±74.41-acre parcel includes excess land currently used for warehouse and storage - with potential to add 60+ additional RV sites without acquiring new land or installing new infrastructure. This expansion runway represents a compelling second stage of value creation beyond simple lease-up.
The Smith River is a premier regional recreation draw known for trophy trout fishing, kayaking, and tubing, attracting visitors from Virginia, North Carolina, and beyond. Located just 8 miles from Martinsville on Route 220, with nearby Philpott Lake and Dam anchoring additional outdoor recreation demand year-round.
Investment highlights
- Attractive Seller Financing at List Price - $3,095,000 first-position seller financing at 5.25% fixed; 24 months interest-only during lease-up, then 30-year amortization; 5-year balloon. Buyer down payment of $1,000,000 + closing costs.
- 3,200 Feet of Smith River Frontage - Scarce, irreplaceable riverfront asset commanding premium rates
- 122 Full-Hookup RV Sites + 5 Tent Sites on ±74.41 Fee-Simple Acres
- Expansion Land Included - Excess acreage with potential for 60+ additional RV sites, no new land acquisition required
- General Store (5,000 SF) - Rare, revenue-enhancing addition to an RV park
- Major Infrastructure Upgrades Completed 2020 - County water & sewer to all sites; all underground electric
- Large Pull-Through Sites (up to 100') - Accommodates Class A rigs and fifth wheels Staffed & Operational Day One - On-site manager, maintenance staff, and CampSpot booking system in place
- High Season Demand: March - November - Strong regional recreation draw from Smith River corridor and Philpott Lake
- Online Booking Growth Runway - 65% of reservations via phone/drive-by; significant upside from digital optimization
- No Redevelopment Required - All upside achievable through operational improvements alone
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