5706 Coleman WayVon Ormy, TX 78073

Property Details for 5706 Coleman Way

Year built

1969

Lot size

110.38 AC

Property size (Sq ft)

2,192 SF

Property type

Commercial real estate

APN

04300-002-0031

APU

43000020031

Description

Exceptional investment opportunity: a 238-acre RV park and mobile home development in Von Ormy, Texas, boasting a 9% cap rate and $262,400 NOI. This Class B property, built in 1973 and renovated in 2023, features 950 units across 10,165 pads, currently operating at 89% occupancy. The park includes four buildings, a manager's home, and a cabin, offering a mix of full hookup RV spaces, tent sites, and various RV storage options. Located just 13 miles from downtown San Antonio and 1.5 miles from I-35, this property benefits from its proximity to major employers and the city's strong RV market. The property is zoned for MH/RV and entertainment districts, and includes a shovel-ready expansion plan for an additional 150 RV or mobile home sites, with entitlements for a further 800 sites. This significant expansion potential, combined with the existing income stream and location within an Opportunity Zone, presents a compelling value-add opportunity. The asking price is $10,490,000, or $10,164.73 per pad. Current rental rates are mid-range for the local market, with potential for increases through further amenity development. The property's existing infrastructure includes city utilities, and complete permits and plans are in place for Phase 1 expansion. The potential for long-term growth and profitability is substantial, making this a rare and attractive investment.

• Alternative Use

  Use

  Valuation

  Residential

  $456,233

  Hospitality

  $417,907

  Educational

  $347,694

  Medical

  $359,651

  Retail

  $540,857

Location Insight

City

Von Ormy

County

Bexar

State

Texas

Latitude

29.2887

Longitude

-98.6206

CBSA code

41700

CBSA name

SAN ANTONIO, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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