CURRENTLY MASTER LEASED FOR $1K NET PER MONTH 13.% CAP RATE 211 VETERANS BLVD.,, TX 79772 For a video tour of Central Pecos RV Park, please visit: http://youtu.be/uudk2z2s93o REDUCED PRICE: $975, $925,
PRICE REDUCTION - Price: $925, Terms: Cash SITE INFORMATION ADDRESS 211 Veterans Blvd., Pecos, TX 79772 COUNTY TAX PARCEL ID Reeves R8295 SITES 111 YEAR BUILT 213 COMMUNITY TYPE COMBINED LAND SIZE All Age RV 6.11 acres DENSITY 6.87 sites/acre MH PHYSICAL OCC. 1% (42 sites as of May 15) MH ECONOMIC OCC. 1% (42 sites as of May 15) AVERAGE RENT $5 (includes all utilities and wifi) ROADS Gravel (with street lights) FLOODPLAIN Zone C UTILITIES WATER Town of Pecos SEWER Town of Pecos ELECTRICITY Liberty Power INVESTMENT HIGHLIGHTS Rare opportunity to acquire a recently developed RV park. The park is currently under a five-year triple-net like lease expiring July 221, at $1, per month with standard escalation clause. As part of the lease agreement, tenant expanded the park by 69 spaces, to 111 spaces, at tenant s sole expense. Nicest park in the area. Clean and quiet with an attractive perimeter fence, and extra large spaces for RVs and fifth wheels. The large clubhouse includes the park office, a recreational area with pool table, cable TV, and vending machines for sodas and snacks. There are also two shower facilities with oversized shower stalls as well as coin operated laundry machines. With grandfathered zoning, the park is closer to the city center than any other park, providing long-term attractiveness to the tenant base. It is less than 1 mile from Austin Elementary School, Crockett Middle School, and the Reeves County Hospital. The park is on public utilities and is one of the only parks in the area with Wifi. Property sits on a strategic location by the intersection of IH-2 and US 285, which connect the region to the Dallas/Fort Worth corridor and New Mexico. Midland and Odessa are less than an hour and a half to the east. AREA HIGHLIGHTS Pecos was named one of America s fastest-growing small towns by Forbes magazine. The local elementary, middle, and high schools are all less than 1.5 miles from the property. Pecos is the retail and commercial center of the Far West Texas region. A growth-oriented local government has partnered with local colleges and developers to attract mixed use developments, loft housing, business incubators, and increased tourism. Local industries include ranching, agriculture (cantalopes). The nearby West of the Pecos Museum is a highly recognized landmark for RV tourists, with three full floors and over 5 rooms of exhibits, artifacts, and history. The community is also known for the Pecos Rodeo (the world s first). Located in the heart of Far West Texas with Big Bend National Park, Balmorhea State Park and Guadalupe National Park nearby, Pecos offers numerous options for outdoor activities. REDUCED PRICE: $975, $925,
FINANCIAL ANALYSIS 1 213 Actuals 214 Actuals Master Lease Operations INCOME Gross Scheduled Rent $135,585 $257,68 $12, Less: Concessions Total Rental Income Plus: Other Income Plus: Storage Income Total Other Income Effective Gross Income.% 1.% 7 7 $135,585 2,933 2,933 $138,518.3% 99.97% 167 2 187 75 $257,65 7,11 823 7,835 $265,439.% 1.% $12, $12, EXPENSES Repairs & Maintenance Payroll Administrative Marketing Professional Fees Utilities Total Variable Expenses Taxes Insurance Management Fee Total Operating Expenses Plus: Capital Reserves Total Expenses per site Actual Exp per site Actual Exp $217 9,95 $235 $9,884 914 38,379 574 24,99 384 16,112 183 7,692 62 2,618 22 9,244 28 8,742 643 26,992 1,512 63,515 $1,836 $77,122 $3,315 $139,249 3 116 68 2,875 264 11,9 135 5,682 18.73% 25,95 4.42% 11,73 $2,721 $114,278 $3,798 $159,537 $2,721 $114,278 $3,798 $159,537 per site $ $.% $ 35 $ Projected Exp $ $ $ $ 2 NET OPERATING INCOME $24,24 $15,93 $12, UNDERWRITING ASSUMPTIONS 1. Actual numbers based on financials provided by the client 2. Park is currently master leased for five years through 221 and the park operations are currently the responsibility of the lessee. The owner does not receive income from the park operations. Instead, the owner is paid $1k net per month, which will grow 2% per year per the lease, by the lessee. REDUCED PRICE: $975, $925,
SITE PLAN EXPANSION LAND WITH NEW CABINS DEMOGRAPHIC INFORMATION 1 mile 3 mile 5 mile 215 Population Estimate 3,895 12,759 12,898 22 Population Projection 4,159 13,261 13,41 Population Growth Estimate 215-22 6.77% 3.93% 3.9% Population Growth 21-215 6.21% 2.86% 2.83% Population Growth 2-21 4.84% 6.54% 6.86% Renter Occupied Percentage 21.44% 25.6% 25.5% Owner Occupied Percentage 78.56% 74.91% 74.92% 215 Est. Average Family Household Income $71,995 $57,623 $57,553 215 Est. Median Owner-Occupied Housing Value $67,335 $51,217 $51,171 Source: 215 Claritas, Inc. REDUCED PRICE: $975, $925,
LOCATION MAP ROSWELL LUBBOCK DFW ABILENE MIDLAND SAN ANGELO KILLEEN AUSTIN MIDLAND INTERNATIONAL AIR & SPACE PORT The Midland Airport has been ranked number eight in Texas for primary commercial service airports. MAF offers over 2 daily departures with non-stop service to Dallas Fort Worth, Dallas Love Field, Houston Intercontinental, Houston Hobby, Las Vegas, and Denver. On 17 September 214, the FAA formally approved their application, making Midland International Airport the first primary commercial service airport to be certified as a spaceport. BIG BEND NATIONAL PARK Big Bend National Park is Texas largest park with 238 miles of trails for hiking, biking, and horseback riding, and 7 miles of dirt roads. The park features mountains, canyons, and desert settings with beautiful views and amazing night skies. A world-class arena for geology: limestone to laccoliths, faults to volcanoes. Fossils include a world-record pterosaur, and 5 crocodile! BALMORHEA STATE PARK Balmorhea State Park holds one of the largest freshwater swimming pools in the world. It carries more than 15 million gallons of fresh crystal clear water open for swimming, scuba diving, and just relaxing under the trees. The park has over 3 campsites along with picnic sites and outdoor sport areas. Balmorhea State Park is located just 42 miles east of Central Pecos RV Park. REDUCED PRICE: $975, $925,
2 117 HIGH SCHOOL 2 CROCKET MIDDLE SCHOOL AUSTIN ELEMENTARY SCHOOL REEVES COUNTY HOSPITAL 2 MAXEY PARK AND ZOO REEVES COUNTY GOLF COURSE 285 MUNICIPAL AIRPORT For a video tour of Central Pecos RV Park, please visit: http://youtu.be/uudk2z2s93o Information for Central Pecos RV Park is available on our website at: www.arausa.com/listinglab/centralpecosrvpark NATIONAL MANUFACTURED HOUSING GROUP PRIMARY CONTACTS: Andrew Shih ashih@aranewmark.com T 512-637-1219 NATIONAL MANUFACTURED HOUSING GROUP: Jon Shay jshay@aranewmark.com T 33-26-4486 91 S. MoPac Expressway, Barton Oaks Plaza II, Suite 275, Austin, TX 78746 T 512.342.81 Todd Fletcher tfletcher@aranewmark.com T 33-26-447 www.aranewmark.com This information has been derived from sources deemed reliable. However, it is subject to errors, omissions, price change and/or withdrawal, and no warranty is made as to the accuracy. Further, no warranties or representation shall be made by ARA, A Newmark Company (ARA Newmark) and/or its agents, representatives or affiliates regarding oral statements which have been made in the discussion of the above property. This presentation, prepared by ARA Newmark was sent to the recipient under the assumption that s/ he is a buying principal. Any potential purchaser is advised that s/ he should either have the abstract covering the real estate which is the subject of the contract examined by an attorney of his/her selection, or be furnished a policy of title insurance. Do not contact the Property.