316 1 StCosmopolis, WA 98520

Property Details for 316 1 St

Year built

1994

Construction

STEEL FRAME

Lot size

0.22 AC

Property size (Sq ft)

1,736 SF

Property type

Office properties

Property subtype

Office buildings

APN

29300201000

APU

29300201000

Description

Exceptional investment opportunity: River Run RV Resort, a Class A, 81-space RV park in Cosmopolis, WA (Aberdeen mailing address, zip 98520). This meticulously maintained property boasts 57 RV sites completed in 2021 and a recent 24-site riverfront expansion finished in 2024. The resort features a modern, single-story building housing a one-bedroom apartment (currently rented at $2,500/month), an office, restroom/shower facilities, and laundry amenities. The property sits on 6.34 acres and benefits from new city water, sewer, and electrical services installed in 2021. A US Army Corps of Engineers-built levee ensures riverfront access along the Chehalis River. Turnkey operation is ensured by on-site management and reservation software, with an on-site caretaker receiving free rent and a $1,000/month stipend. The resort maintains a 10-year RV age requirement (2012 and newer) for stays exceeding 30 days. Its prime location offers easy access to Highway 101, Olympic National Park (50 miles), Ocean Shores and Westport (20 miles), and local attractions including a boat launch, golf course, and trailway. Financial highlights include an asking price of $5,950,000, a current NOI of $369,815 (6.22% cap rate), and a pro-forma NOI of $567,739 (9.54% pro-forma cap rate). Each of the 81 pads can accommodate 40-46' Class A luxury RVs, with ample spacing between units. The property's landscaping features black crushed rock and circular driveways. This is a rare opportunity to acquire a high-performing, well-managed RV resort in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $469,766

  6.5%

  $433,630

  7%

  $402,656

• Comparable approach

  Method

  Valuation

  Relative Method

  $465,533

  Geo Method

  $334,319

• Alternative Use

  Use

  Valuation

  Residential

  $537,701

  Hospitality

  $492,531

  Educational

  $409,780

  Medical

  $423,873

  Retail

  $637,436

Location Insight

City

Aberdeen

County

Grays Harbor

State

Washington

Latitude

46.9777

Longitude

-123.817

CBSA code

10140

CBSA name

ABERDEEN, WA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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