16022 Cumberland Cove Rd - Hospitality FOR SALE


Madill, OK 73446
$400,000 USD
770-933-8585
16022 Cumberland Cove Rd, Madill, OK for Sale
$400,000 USD
Hospitality - FOR SALE
1/5
null | Request Cap Rate

16022 Cumberland Cove Rd
Madill, OK 73446


HIGHLIGHTS

  • Texoma Shores has been operated as a membership park without an active member sale operation.
  • All membership obligations remain with the seller and the property is primed and ready is primed and ready to be operated as a traditional RV park
  • Market occupancy is 30-40% and market rates are $45+/night
  • The majority of the property (109 acres) is on a ground lease from the Army Corps of Engineers.
  • Over a mile of shoreline on Lake Texoma, one of the largest reservoirs in the US, and within two hours of Dallas and Oklahoma City.
  • Management in-place with current out-of-state owner and ready for stabilization post-membership club.

OVERVIEW

Colliers Manufactured Housing & RV Group, serving as the exclusive agent for the Owner, is delighted to present the offering to acquire the Texoma Shores RV Resort, a 41-site RV campground with over 1-mile of shoreline on one of the biggest lakes in the south in Madill, Oklahoma. The resort is centrally located between two major metros, Oklahoma City and Dallas/Fort Worth via I-20 and I-35. These major east/west and north/south thoroughfares are the main routes for snowbirds traveling from the cold Upper Midwest states to the warmer South during the winter months, thereby main lodging at Texoma Shores an attractive stay for daily guests. The property has historically operated as part of a membership club which seeks to optimize membership revenue rather than property-level NOI. This provides the opportunity for a buyer to purchase an underperforming property at a price well-below replacement cost and stabilize the property at a high double-digit unlevered yield.

FOR SALE DETAILS

PRICE

$400,000 USD

PRICE/SF

$73 USD /SF

# OF ROOMS

11

PRICE/ROOM

$36,364 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Texoma Shores Motel and Cabins

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1985

PARKING SPACES

24

LAND DETAILS

LAND ACRES

20 AC

LAND SF

871,200 SF

ZONING

-

APN/PARCEL ID

0000-09-06S-07E-0-001-00,0030-00-000-00A-0-001-00

ASK ABOUT THIS PROPERTY

Mike NissleyColliers Manufactured Housing & RV GroupMore Info
770-933-8585

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Mike NissleyColliers Manufactured Housing & RV GroupMore Info
770-933-8585

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.