LAKU RV CAMPGROUND
NY RV Campground | Infill Opportunity | 75 Pads
Marketing description
The MHP Value Team is pleased to offer for sale Laku RV Campground, a 75-site RV Campground in Crown Point, New York
This campground is located on 14+ acres on Lake Champlain, making it an attractive destination for both seasonal and transient visitors. With 34 reviews on Google with an average rating of 4.2 stars, there is a loyal repeat clientele base.
Laku presents a rare opportunity to acquire a below-replacement-cost campground, priced at $10,000 a site, significantly under the cost to develop new infrastructure and entitle a comparable site in today's market. The property is supported by existing infrastructure and layout, allowing an investor to execute a phased infill strategy. Survey and zoning documentation support the feasibility of bringing the total site count to 99 total sites.
The seller has done ~$400k in Capex this past season overhauling the the septic and drainage system. 18 new well tanks were placed, 9 new septic systems were installed, and the parks electricity was redone.
An investment strategy for Laku campground would be a phased infil strategy to reach the 99 site limit, increase rents to market (currently $600-$1,000 below market), and increase ancillary income through various park amenities.
Investment highlights
- ~$400k in recent capex to the Septic, Well, and electricity
- Below Replacement Cost Basis: Offered at $750,000, significantly below the cost to develop and entitle a comparable campground, creating a strong margin of safety.
- 100% seasonal campgorund with stable demand
- Opportunty to increase below market rates and improve ancillary income
- Seller financing offered to qualifed buyers with campground experience
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