Listed by Colliers - Palm Beach - Boca Raton, Florida, Colliers - Seattle, Washington
$11,400,000
Details
Property Type Multifamily, Mobile Home Park
Sub Type Marina
Units 137
Occupancy 100%
Year Built 1921
Year Renovated 2025
Acreage 19.420
Investment Type Institutional
Ground Lease No
137 Resort Sites + 110 Moorage Slips 20 miles from Major MSA with Significant Upside
Marketing description
The Colliers Manufactured Housing & RV Group presents a rare opportunity for the Washington Resort, a 137- site lakefront Park Model & Cottage resort plus 110 moorage slips near a large MSA.
After over 100 years of family stewardship the park-model resort has established deep roots in the community and has become a beloved seasonal vacation destination in the Pacific Northwest.
The asking price for the resort is $11,400,000 ($82,212/site).
This represents a 8.0% Cap Rate.
Do not contact or visit the park without explicit permission from Owners or Brokers.
Please discuss with Richard Knapp.
All visits will be subjected to daily pass fees unless otherwise stated.
Investment highlights
- Irreplaceable waterfront positioning with over 1/2 mile of sandy beach water frontage and lakefront views in a supply-constrained market.
- Lakefront destination location with easy access to major metropolitan area, and regional outdoor recreation attractions.
- The family recently completed significant capital expenditures to improve and renovate the resort.
- Majority of sites are tenant-owned park model sites and the cottage income is similar to the park model revenue as units are typically reserved a year in advance by returning guests.
- There are significant upside opportunities such as adding new cottages, replacing existing cottages with duplex cottages, leasing commercial buildings, offering boat storage, expanding the operating season, renting watercraft, growing the event business, improving restaurant operations, and more.
Listing Contacts
Listed by Colliers - Palm Beach - Boca Raton, Florida, Colliers - Seattle, Washington
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