Lake Murray RV Park
55-Unit Long-Term Community • 20 Acres •Value-Add
Marketing description
North Star Brokerage & Advisory is pleased to exclusively offer Lake Murray RV Park, a 55-unit long-term RV community situated on approximately 20 acres along US-70 in Ardmore, Oklahoma — seven miles from Lake Murray State Park, Oklahoma’s first and largest state park, and minutes from Interstate 35 at the midpoint of the Oklahoma City–Dallas corridor.
The property is a true value-add opportunity. It is currently owner-operated at approximately 49% physical occupancy with all utilities bundled into rent, no submetering, and several non-core assets that a new owner can monetize. In-place performance reflects a temporary occupancy trough rather than the asset’s earning power: 2025 produced roughly $92k of net operating income (a 9.2% cap rate at the asking price), while a conservatively stabilized pro forma supports materially higher income through utility bill-backs, lease-up, and operational professionalization.
The unit mix comprises 42 RV lots, 11 park-owned RVs, one single-family home, and one tiny-home cabin, with 100% of residents on long-term (30-day-plus) leases — insulating revenue from seasonal and nightly turnover. With below-market in-place economics, utilities currently bundled into rent, and roughly half the units yet to be leased, the property presents a new owner with multiple low-capital levers to grow NOI from day one.
**No Seller Financing Available**
Looking for something else? Please submit your buyer criteria so that our team can better pair you with opportunities that meet your needs > CLICK HERE
HOW TO PARTICIPATE
- Inquiries should be made by contacting Tyler Gauntt at [email protected]
- DO NOT show up to the property unannounced.
- DO NOT speak to staff, guests or owners without written consent from Broker.
- All offers must be submitted in a Letter of Intent format with proof of funds and/or letter from a lender.
- Please review all diligence materials prior to contacting an agent.
Notice to Subto and Creative Finance Communities
To all new members of the Pace Morby “Creative Finance” and “Subto” communities, we appreciate your enthusiasm and interest.
Please note that we work exclusively with verified buyers (and their brokers). To protect our sellers, we do not release proprietary information to intermediaries, scouts, “bird dogs,” or any third parties.
All buyers must contact us directly, complete registration, and sign a Confidentiality Agreement before receiving any property details. Proof of funds may be requested from all interested parties.
Investment highlights
- Substantial Utility Bill-Back Upside - All utilities are included in rent with no submetering in place. Electricity and water alone cost roughly $56,000/year. A conservative 60% recovery through submetering or a RUBS program adds approximately $34,000 to annual NOI — the property's single largest and most controllable value-creation lever.
- Lease-Up of a Half-Vacant Park - Physical occupancy is approximately 49% (27 of 55 units). Four of five vacant park-owned units are reportedly leasing within weeks, lifting occupancy toward 55% and in-place charges to roughly $19,675/month. Every incremental lot leased flows almost entirely to NOI.
- Monetizable Non-Core Assets Lower Effective Basis - Two assets can be sold post-close to reduce effective basis by roughly $230,000: the on-site single-family home (~$200,000) and a commercial ice machine purchased new in 2024 (~$30,000 resale). A buyer at $1,000,000 could carry a net basis closer to $770,000 on the core RV operation.
- 100% Long-Term, Stable Tenant Base - All residents are on 30-day-plus monthly leases with completed background checks. No nightly or weekly turnover means revenue is insulated from seasonal volatility.
- Demand Catalysts in the Ardmore Market - A Valero Refinery turnaround project is expected to drive RV-lot demand toward full occupancy for one to two years. Additional optionality includes ~10 acres of undeveloped land, a septic upgrade to add tiny-home cabins, and prior data-center interest in the area. These are upside, not assumed in the base valuation
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
