Mixed Use Income Asset Multifamily, Storage, RV, & Laundry
Campground storage and laundry with development potential and multifamily, storage
Marketing description
Deal Website Link: https://sharpschapelcampsite.sharplaunch.com/
Current ownership has significantly improved the property through active management and operational enhancements while still maintaining meaningful upside through continued rent growth and stabilization. Current in-place rents remain below projected market levels, creating the opportunity for future revenue growth while continuing to provide affordable workforce housing within the market.
Union County, Tennessee, with a population of approximately 20,000 residents, continues to benefit from its strategic proximity to the Knoxville Metropolitan Statistical Area, located approximately 30–50 miles south of the portfolio properties, while maintaining strong recreational and workforce housing fundamentals throughout the region. The county benefits from access to regional employment centers, healthcare systems, manufacturing activity, and educational institutions throughout the greater Knoxville market while providing a more affordable housing alternative within East Tennessee.
The area surrounding Sharps Chapel and Maynardville continues to experience demand driven by a combination of long-term workforce housing needs, regional migration trends, and Norris Lake recreation. Union County is home to Norris Lake, a more than 34,000-acre recreational lake system supporting year-round boating, fishing, camping, and seasonal tourism demand. Nearby destinations including Big Ridge State Park and Chuck Swan Wildlife Management Area further support recreational visitation and long-term campground/RV occupancy throughout the broader market.
Together, the portfolio benefits from proximity to the broader Knoxville MSA (approximately 900,000+ population) while capitalizing on the region’s growing recreational appeal and workforce housing demand. The combination of stable long-term occupancy, diversified revenue streams, established NOI, and scalable expansion opportunities presents investors with a rare opportunity to acquire a mixed-use income platform positioned for both immediate cash flow and long-term growth in East Tennessee.
Investment highlights
This rare mixed-use investment portfolio consists of two strategically located, income-producing assets in Union County, Tennessee, positioned approximately 10 minutes from one another and offering diversified cash flow across campground/RV, multifamily, self-storage, and ancillary income streams with substantial expansion potential.
Now Offered at $3,800,000
The portfolio is being offered with the seller's commitment to complete the 14-pad campground expansion at Sharps Chapel and the 7-pad expansion at the Maynardville property as part of the sale agreement. Upon completion, the expansion is projected to increase annual Net Operating Income by $138,600, bringing the projected portfolio NOI to approximately $491,424, representing an attractive 12.93% projected cap rate at the asking price.
Sharps Chapel Campground | 107 Lay Hollow Rd
~90% Occupied
Sharps Chapel Campground is a stabilized, income-producing asset featuring 43 campground sites with long-term tenants, 52 self-storage units, an on-site laundromat, and a 1,624 SF single-family residence (3BR / 1BA) built in 1963.
Currently operating at approximately 90% occupancy, the property benefits from a stable resident base of long-term campground tenants, creating recurring income while minimizing the turnover typically associated with transient campground operations.
The property's 14 new camper pads are currently under construction and are included as part of the sale. The seller has agreed to remain involved after closing to complete the project, providing buyers with a streamlined transition and reducing execution risk.
In addition to the current expansion, the property offers future development potential for:
- 25 additional RV parking spaces
Located near the recreational draw of Sharps Chapel and Norris Lake, the asset benefits from steady regional demand and continued long-term occupancy trends.
6367 Maynardville Highway
Multifamily & Expansion Opportunity
Located approximately 10 minutes from Sharps Chapel Campground, this mixed-income property includes:
- 5-unit single-story apartment building
- Two single-family homes
- Two mobile homes
- Five self-storage units
The property generates diversified residential income while offering immediate upside through the seller-completed expansion and additional long-term development potential.
The seller's included expansion consists of:
- 7 new camper/RV pads currently planned for completion as part of the sale
In addition, the property offers future opportunities for further value-add development while leveraging its existing operational footprint.
Investment Highlights
- Now offered at $3,800,000
- Projected NOI of approximately $491,424 upon completion of the included expansion
- Projected annual NOI increase of $138,600 included in the purchase
- 12.93% projected cap rate at the asking price
- Seller committed to completing the 21 new campground/RV pads after closing (14 at Sharps Chapel and 7 at Maynardville)
- Diversified income streams across campground/RV, multifamily, self-storage, and ancillary revenue
- Established long-term tenancy and recurring cash flow
- Sharps Chapel operating at approximately 90% occupancy
- 14 new campground pads currently under construction and included in the sale
- 7 new campground/RV pads to be completed at the Maynardville property as part of the sale
- Future development potential for an additional 25 RV parking spaces at Sharps Chapel
- Properties located within approximately 10 minutes of one another for operational efficiency
- Growing East Tennessee market with strong recreational and workforce housing demand
This portfolio presents a rare opportunity to acquire a stabilized, cash-flowing investment with a seller-funded expansion already underway, immediate upside built into the acquisition, and additional long-term development potential. Buyers benefit from immediate income, a projected $138,600 increase in annual NOI upon completion of the included expansion, and future optionality through the remaining RV development opportunities.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
