View
2
Download
0
Category
Preview:
Citation preview
RV PARK FOR SALE
SLEEPY HOLLOW RV PARK15931 TX-35, SWEENY, TX
Director - Houston Office832.680.5231832.741.2178cthom@sunstonerea.comTX #9007588
CASEY THOM
MANUFACTURED HOUSING PROPERTY FOR SALE
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
Director - Houston Office832.680.5231832.741.2178cthom@sunstonerea.com
CASEY THOM
FINANCIAL ANALYSIS 41.
Financial Summary 5Income & Expenses 6Historical & Proforma Financial Analysis 7Notes To Financials 8
PROPERTY INFORMATION 92.
Property Details 10Additional Photos 11Additional Photos 12
LOCATION INFORMATION 133.
Market Overview 14Market Overview (page 2) 15Location Maps 16
SALE & RENT COMPS 174.
Sale Comps Map View 18Rent Comps Map View 19
DEMOGRAPHICS 205.
Demographics Map & Report 21Back Page 22
MORE INFORMATION ONLINE:sunstonerea.comPage 3
PROPERTY OVERVIEW
Sunstone is pleased to offer Sleepy Hollow RV Park, located in Sweeny, Texas. The 73 sitecommunity was constructed in 2016, up to city construction standards, and boastsconcrete roads and parking pads. The property has shower facilities, laundry room andrecreation room. Two additional acres could be purchased for further expansion. Locatednear the Sweeny Phillips 66 hub which is undergoing a $1.5 Billion expansion.
PROPERTY HIGHLIGHTS
• Built in 2016
• Concrete Roads and Parking Pads
• Shower Facilities
• Laundry
• Recreation Room
• Onsite Office
RV PARK FOR SALE
OFFERING SUMMARY
RV PARK FOR SALE
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
Sale Price: $2,800,000
NOI: $240,620
Number Of Spaces: 73
Occupancy: 100%
Lot Rent: 450
Lot Size: 11 Acres
SECTION 1
FINANCIAL ANALYSIS
FINANCIAL ANALYSIS
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
Director - Houston Office832.680.5231832.741.2178cthom@sunstonerea.comTX #9007588
CASEY THOM
INVESTMENT OVERVIEW
Price $2,800,000CAP Rate 8.6%
OPERATING DATA
Total Scheduled Income $449,156Operating Expenses $208,536Net Operating Income $240,620
RV PARK FOR SALE
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
MORE INFORMATION ONLINE:sunstonerea.comPage 5
MORE INFORMATION ONLINE:sunstonerea.comPage 6
INCOME SUMMARY PER UNIT
Gross Potential Lot Rent $394,200 $5,400
Reimbursement Income $54,641 $748
Late Fees $57 $0
Credit Card Fees $2,502 $34
Bad Debt -$2,244 -$30
GROSS INCOME $449,156 $6,152
EXPENSE SUMMARY PER UNIT
Payroll $27,143 $371
Repairs & Maintenance $19,912 $272
General & Administrative $5,458 $74
Utilities $94,154 $1,289
Insurance $8,254 $113
Taxes $27,508 $376
Reserves $3,650 $50
Management Fee $22,457 $307
GROSS EXPENSES $208,536 $2,856
NET OPERATING INCOME $240,620 $3,296
RV PARK FOR SALE
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
2017 $/Space 2018 $/Space 2019 Jan - Sep $/Space 2019 Annualized $/Space Year 1 $/Occ Space Year 2 Year 3
Revenue
Gross Potential Lot Rent $223,181 $3,057 $186,168 $2,550 $197,196 $2,701 $262,928 $3,602 $394,200 $5,400 $406,026 $418,207
Vacancy/Concessions $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Reimbursement Income $38,830 $532 $35,334 $484 $40,981 $561 $54,641 $749 $54,641 $749 $56,280 $57,968
Late Fees $100 $1 $105 $1 $43 $1 $57 $1 $57 $1 $57 $57
Credit Card Fees $0 $0 $1,030 $14 $1,877 $26 $2,502 $34 $2,502 $34 $2,502 $2,502
Bad Debt $0 $0 ($867) ($12) ($471) ($6) ($628) ($9) ($2,244) ($31) ($2,312) ($2,381)
Total Revenue $262,111 $3,591 $221,770 $3,038 $239,625 $3,283 $319,500 $4,377 $449,156 $6,153 $462,554 $476,354
2017 $/Space 2018 $/Space 2019 Jan - Sep $/Space 2019 Annualized $/Space Year 1 $/Occ Space Year 2 Year 3
Operating Expenses
Payroll
Payroll $43,534 $596 $49,081 $672 $19,764 $271 $26,352 $361 $27,143 $372 $27,957 $28,796
Total Payroll $43,534 $596 $49,081 $672 $19,764 $271 $26,352 $361 $27,143 $372 $27,957 $28,796
Repairs and Maintenance - Park
General $24,223 $332 $13,970 $191 $13,033 $179 $17,378 $238 $17,899 $245 $18,436 $18,989
Small Tools $3,403 $47 $2,240 $31 $1,466 $20 $1,954 $27 $2,013 $28 $2,073 $2,135
Total Repairs & Maintenance - Park $27,626 $378 $16,210 $222 $14,499 $199 $19,332 $265 $19,912 $273 $20,509 $21,124
General and Administrative
Advertising $100 $1 $100 $1 $0 $0 $0 $0 $0 $0 $0 $0
Bank Charges $37 $1 $1,074 $15 $2,264 $31 $3,018 $41 $3,109 $43 $3,202 $3,298
Office Supplies $1,546 $21 $173 $2 $619 $8 $825 $11 $850 $12 $875 $901
Accounting $0 $0 $0 $0 $0 $0 $0 $0 $1,500 $21 $1,545 $1,591
Total General and Administrative $1,683 $23 $1,347 $18 $2,882 $39 $3,843 $53 $5,458 $75 $5,622 $5,791
Utility Expense
Utilities $79,167 $1,084 $67,880 $930 $68,559 $939 $91,411 $1,252 $94,154 $1,290 $96,978 $99,888
Total Utility Expense $79,167 $1,084 $67,880 $930 $68,559 $939 $91,411 $1,252 $94,154 $1,290 $96,978 $99,888
Insurance
Insurance - Park $9,941 $136 $10,291 $141 $6,010 $82 $8,014 $110 $8,254 $113 $8,502 $8,757
Insurance - Homes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Insurance $9,941 $136 $10,291 $141 $6,010 $82 $8,014 $110 $8,254 $113 $8,502 $8,757
Taxes
Real Estate Tax $50 $1 $31,076 $426 $0 $0 $27,508 $377 $27,508 $377 $28,333 $29,183
Personal Property Tax $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Taxes $50 $1 $31,076 $426 $0 $0 $27,508 $377 $27,508 $377 $28,333 $29,183
Reserves $0 $0 $0 $0 $3,650 $3,650 $3,650
Management Fee $0 $0 $0 $0 $0 $0 $0 $0 $22,458 $308 $23,128 $23,818
Total Expenses $162,000 $2,219 $175,885 $2,409 $111,714 $1,530 $176,460 $2,417 $208,536 $2,857 $214,679 $221,006
Net Operating Income $100,110 $1,371 $45,885 $629 $127,911 $1,752 $143,040 $1,959 $240,620 $3,296 $247,875 $255,348
Expense Ratio 62% 79% 47% 55% 46% 46% 46%
ASSUMPTIONS 2017 2018 2019 Jan - Sep 2019 Annualized Year 1 Year 2 Year 3
Total Number of Spaces 73 73 73 73 73 73 73
Average Number of Occupied Units 0 0 0 0 73 73 73
Average Occupancy Rate 0.0% 0.0% 0.0% 0.0% 100.0% 100.0% 100.0%
Average Unit Rent $0 $0 $0 $450 $450 $464 $477
Bad Debt 0.0% 0.4% 0.2% 0.2% 0.5% 0.5% 0.5%
Management Fee 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0%
Reserves per Total Home-sites $0 $0 $0 $0 $50 $50 $50
General Expense Escalation N/A N/A N/A N/A 3.0% 3.0% 3.0%
MANUFACTURED HOUSING PROPERTY FOR SALE
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
MORE INFORMATION ONLINE:sunstonerea.comPage 7
Notes to Financials
Total Revenue – “Year 1” calculates gross potential lot rent based on the current occupancy level of
%100 and the current rental rate of $450 per month in lot rent. We have kept the reimbursement of
electricity costs and credit card fees the same as the 2019 annualized level as it is more indicative than
past years due to the park now being full. We have also assumed a .5% bad debt to account for
collection loss.
Payroll – “Year 1” Payroll expense has been escalated by 3% to account for potential inflation. The park
currently has one employee that works about 35 hours per week at the park.
R&M - “Year 1” All R&M expenses have been escalated for potential inflation.
G&A – “Year 1” Bank Charges and Office Supplies have been escalated for inflation. Additionally, we
have added expense to account for tax prep for the property to bring the over all G&A expense to more
normalized levels based on industry benchmarks.
Utilities – The utility expense has been escalated for inflation. This expense includes electricity, and the
cable and internet for the property.
Insurance – “Year 1” has been escalated by 3% to account for potential inflation.
Taxes – “Year 1” reflects the current 2019 tax bill for real estate taxes for both parcels that make up the
RV park.
MANUFACTURED HOUSING PROPERTY FOR SALE
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
MORE INFORMATION ONLINE:sunstonerea.comPage 8
SECTION 2
PROPERTY INFORMATION
PROPERTY INFORMATION
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
Director - Houston Office832.680.5231832.741.2178cthom@sunstonerea.comTX #9007588
CASEY THOM
RV PARK FOR SALE
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
MORE INFORMATION ONLINE:sunstonerea.comPage 10
UTILITY PROVIDERSPROPERTY DESCRIPTION
COMMUNITY DESCRIPTION
UTILITY/SERVICE PROVIDER PAID BY
Electricity: Jackson Electric Coop Community
Water: Well Community
Sewer: Septic Community
Trash Removal: WCA Waste Community
PROPERTY NAME: Sleepy Hollow RV Park
PROPERTY ADDRESS: 15931 TX-35
Sweeny, TX 77480
APN: 13222
13223
13221
LAND AREA: 11 Acres
AMENITIES: Shower Facilities, Laundry Room, Recreation
Room
ACCESS & VISIBILITIES: Located off TX-35, 65 miles outside
downtown Houston
FEMA FLOOD MAP ID: 4854890150C
FLOOD ZONE: Located Within a Flood Zone
Year Built: 2016
Total Spaces: 73
Roads: Concrete
Parking: On & Off Street
MORE INFORMATION ONLINE:sunstonerea.comPage 11
MANUFACTURED HOUSING PROPERTY FOR SALE
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
MORE INFORMATION ONLINE:sunstonerea.comPage 12
MANUFACTURED HOUSING PROPERTY FOR SALE
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
SECTION 3
LOCATION INFORMATION
LOCATION INFORMATION
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
Director - Houston Office832.680.5231832.741.2178cthom@sunstonerea.comTX #9007588
CASEY THOM
SUBMARKET
Sweeny is a city in Brazoria County (population 362,000+). Brazoria County is included in the Houston-The Woodlands-Sugar LandMetropolitan Statistical Area. It is located in the Gulf Coast region of Texas.
The closest airport with regularly scheduled commercial service is Houston's William P. Hobby Airport, located in southern Houston inadjacent Harris County. The Houston Airport System has stated that Brazoria County is within the primary service area of George BushIntercontinental Airport, an international airport in Houston in Harris County.
Phillips 66 plans to spend up to $1.5 billion on infrastructure upgrades near its Houston Ship Channel facilities to serve the PermianBasin. The Houston-based operator Wednesday said it is proceeding with an expansion of its Sweeny Hub by building two 150,000 b/dfractionators in Old Ocean in Brazoria County. The project is expected to begin commercial operations in late 2020.
POPULATION
Brazoria County has a total population of 362,457. The county has experienced a 50% increase in population since the year 2000.
EDUCATION
Brazoria County offers 46 elementary schools, 23 middle schools, and 16 high schools.
Alvin Community College (ACC) is a community college located in Brazoria County. The college provides educational opportunities inworkforce training, academics, technical fields, adult basic education, and personal development. Established in 1948, 5,200+ studentsattend ACC.
MANUFACTURED HOUSING PROPERTY FOR SALE
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
MORE INFORMATION ONLINE:sunstonerea.comPage 14
EMPLOYER DESCRIPTION
The Dow Chemical Company Chemical
Alvin ISD Education
Pearland ISD Education
Texas Dept. Of Criminal Justice Criminal Justice
The Infinity Group Specialty Contractor
Brazosport ISD Education
Brazoria County Government
Olin Corporation Manufacturing Company
Phillips 66 Refining
BASF Corporation Chemical
EMPLOYMENT
The economy of Brazoria County, TX employs 169k people. The largest industries in Brazoria County, TX are Manufacturing (25,728people), Health Care & Social Assistance (23,855 people), and Educational Services (17,799 people).
According to the County's Economic Development Department, its top ten largest employers include the following:
MANUFACTURED HOUSING PROPERTY FOR SALE
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
MORE INFORMATION ONLINE:sunstonerea.comPage 15
MORE INFORMATION ONLINE:sunstonerea.comPage 16
MANUFACTURED HOUSING PROPERTY FOR SALE
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
SECTION 4
SALE & RENT COMPS
SALE & RENT COMPS
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
Director - Houston Office832.680.5231832.741.2178cthom@sunstonerea.comTX #9007588
CASEY THOM
MANUFACTURED HOUSING PROPERTY FOR SALE
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
DATE PARK NAME CITY # OF SPACES OCC SALE PRICE $/SPACE
Sleepy Hollow RV Park Sweeny 73 % - $38,356
1 Nov 2018 Brazoria RV Resort Brazoria 51 % $1,800,000 $35,294
2 Oct 2018 Bayou Oaks Angleton 100 % $4,400,000 $44,000
3 Apr 2019 Rayford Crossing RV Resort Spring 112 % $8,100,000 $72,321
MORE INFORMATION ONLINE:sunstonerea.comPage 18
MORE INFORMATION ONLINE:sunstonerea.comPage 19
PARK NAME CITY # OFSPACES
SPACE RENT PERMONTH RENT INCLUDES AMENITIES
Sleepy HollowRV Park Sweeny 73 $450 Water, Sewer,
Trash Power, Cable & Internet
1 Stonebridge RVPark Sweeny 100 $550 Water, Sewer,
TrashWi-Fi, Swimming Pool, Restrooms/Showers, Laundry Facilities, FishingPond, Community Lodge
2 Old Ocean RVPark Sweeny 40 $450 W, S, T None
3 Sugar Valley RVPark
VanVleck 152 $425 W, T Laundry, country store, propane
4 Backyard RVPark Sweeny 45 $450 W, S, T Playground
MANUFACTURED HOUSING PROPERTY FOR SALE
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
SECTION 5
DEMOGRAPHICS
DEMOGRAPHICS
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
Director - Houston Office832.680.5231832.741.2178cthom@sunstonerea.comTX #9007588
CASEY THOM
MORE INFORMATION ONLINE:sunstonerea.comPage 21
POPULATION 1 MILE 5 MILES 10 MILES
Total Population 129 3,269 17,736
Median age 39.0 38.8 38.5
Median age (Male) 37.5 36.4 37.1
Median age (Female) 40.2 40.7 39.9
HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES
Total households 45 1,166 6,344
# of persons per HH 2.9 2.8 2.8
Average HH income $73,726 $69,890 $67,616
Average house value $100,064 $97,128 $109,254
* Demographic data derived from 2010 US Census
MANUFACTURED HOUSING PROPERTY FOR SALE
15931 TX-35, SWEENY, TX
SLEEPY HOLLOW RV PARK
Exclusively listed by Sunstone Real Estate Advisors
SLEEPY HOLLOW RV PARK15931 TX-35, SWEENY, TX
FOR MORE INFORMATION PLEASE CONTACT:
Director - Houston Office832.680.5231832.741.2178cthom@sunstonerea.com
CASEY THOM
Recommended