This exceptional 50.89-acre waterfront RV park in Virginia Beach, VA, presents a unique investment opportunity. Boasting 110 sites (including 6 cabins and 10 tent sites), this Class B property, built in 1980 and renovated in 2023, offers a strong 5.09% cap rate and a substantial NOI of $305,186. The asking price is $6,000,000, translating to $54,545.45 per unit and $5,514.71 per square foot of the 1,088 square foot main building. Situated on Colechester Road (zip code 23456), this park benefits from its proximity to Atlantic Ocean beaches and a waterfront restaurant, easily accessible by boat or vehicle. Amenities include a boat ramp, dockage, pool, game room, sports courts, playground, bathhouse, kayak and canoe rentals, and a pavilion. Multiple revenue streams are generated through a park store, boat and RV storage, boat ramp fees, and RV pump-out services. Significant value-add potential exists through expansion to 200 sites (RV or tent) and increased boat/RV storage, leveraging grandfathered expansion rights. The park is surrounded on one side by undeveloped wildlife refuge, ensuring the preservation of its tranquil setting. Onsite are a workshop and maintenance pole barn with equipment. This is a truly remarkable opportunity to acquire a thriving waterfront RV park with substantial growth potential.
Highlights
Unique waterfront RV park in desirable Virginia Beach, surrounded by protected wildlife refuge.
Grandfathered expansion potential to significantly increase park size on 50+ acres.
Minutes from Atlantic Ocean beaches and a waterfront restaurant, accessible by boat or vehicle.
Amenities include boat ramp, dockage, pool, game room, sports courts, playground, bathhouse, and kayak/canoe rentals.
Multiple revenue streams from park store, boat/RV storage, boat ramp fees, and RV pump-out services.
Value-add opportunities: expand to 200 sites (RV or tent), and increase boat/RV storage.
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Contacts
William Capone
Steve Kruszenski
Scott Reid
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3257 Colechester Rd, Virginia Beach, Virginia, 23456
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
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3257 Colechester Rd
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