For Sale
$6,000,000

3257 Colechester RdVirginia Beach, VA 23456

Prime RV park, 110 units, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
115
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.

Property Details for 3257 Colechester Rd

Property type
Mobile home & RV parks, Campgrounds
Square Feet
1,088 SF
Class
B
Year Built/Renovated
1980/2023
Lot Size (sq. ft)
2,216,768 SF
Units
110

Location Insight

City
Virginia Beach
County
Virginia Beach City
State
Virginia
Latitude
36.714875954676
Longitude
-75.97830186384
3257 Colechester Rd, Virginia Beach, Virginia

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3257 Colechester Rd
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