3900 Bandera HwyKerrville, TX 78028

Property Details for 3900 Bandera Hwy

Year built

2001

Lot size

8.08 AC

Property size (Sq ft)

10,889 SF

Property type

Commercial real estate

APN

13596

APU

13596

Description

This exceptional 17.44-acre RV park and cabin resort in desirable Kerrville, Texas, offers 100 units (55 RV sites, 29 cabins, 12 apartments) and outside storage. Boasting 527 feet of highway frontage and an additional 10.7 acres of valuable groundwater rights, this gated community features a clubhouse with a TV area, pool table, and library; a sparkling pool and kiddie pool; a laundry facility; a fitness center; and high-speed Wi-Fi. The property includes an on-site manager's office and benefits from an 85% occupancy rate and a strong NOI of $421,190, with a pro-forma NOI of $502,644. The 2023 actual income was $770,000, projected to increase to $870,000 with planned rental increases and the addition of 12 new spaces. Individual electric and water meters for each RV and cabin allow for efficient billing and resource management. Built in 2015, this Class B, stabilized investment property presents a unique opportunity for significant returns, with room for expansion to accommodate at least 20 more RV spaces. The property's location provides easy access to local attractions, shopping, and dining. This turnkey operation offers both immediate income and substantial future growth potential. Asking price is $7,100,000 ($71,000 per unit), with a 5.93% cap rate and a pro-forma cap rate of 7.08%.

Location Insight

City

Kerrville

County

Kerr

State

Texas

Latitude

29.948

Longitude

-99.1094

CBSA code

28500

CBSA name

KERRVILLE, TX MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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