319 T B Stanley Hwy - Manufactured Housing/Mobile Housing FOR SALE


Bassett, VA 24055
$4,095,000 USD
209-840-3460
319 T B Stanley Hwy, Bassett, VA for Sale
$4,095,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/23
null | Request Cap Rate

319 T B Stanley Hwy
Bassett, VA 24055


HIGHLIGHTS

  • The property underwent major upgrades in 2020 across multiple aspects of infrastructure and improvements.
  • County water and sewer to all sites and underground electric service throughout the property.
  • 122 (RV) + 5 (Tent) site riverfront outdoor hospitality property situated on approximately 31.20 acres with approximately 3,200 feet of frontage
  • Value-Add Upside — 54 of 122 RV sites currently occupied (52 long-term + 2 transient), plus 11 additional long-term tenants booked to move in;
  • Attractive Seller Financing at List Price — $3,095,000 first-position seller financing at 5.25% fixed; 24 months interest-only

OVERVIEW

Seller Financing Available at List Price: The seller is offering $3,095,000 in first-position financing at 5.25% fixed interest, structured with 24 months interest-only payments to support the lease-up period, followed by 30-year amortized payments through a 5-year balloon. Buyer equity required at closing is $1,000,000 plus closing costs. This financing structure materially improves day-one cash-on-cash returns and aligns seller and buyer through the stabilization period. Smith River RV Park is a 122 (RV) + 5 (Tent) site riverfront outdoor hospitality investment offering full-hookup RV sites plus 5 tent sites on ±74.41 acres along the Smith River in Henry County, Virginia — with approximately 3,200 feet of prime river frontage. This is a scarce, irreplaceable natural asset in a high-demand outdoor recreation corridor. The park is currently 44% occupied with 52 long-term tenants and 2 transient bookings in place, plus 11 additional long-term move-ins on deck — providing a stabilized monthly cash flow base while leaving 66 sites of remaining runway. The path to stabilization is operational: improved transient marketing, rate optimization, and digital booking optimization — with no redevelopment required. The property includes a 5,000 SF general store with liquor license, a 1,200 SF updated bathhouse with coin and app-pay laundry, on-site management and maintenance staff, and a CampSpot booking system already in place. Major infrastructure upgrades were completed in 2020, with county water and sewer to all sites and underground electric service throughout. Adding further upside, the ±74.41-acre parcel includes excess land currently used for warehouse and storage — with potential to add 60+ additional RV sites without acquiring new land or installing new infrastructure. This expansion runway represents a compelling second stage of value creation beyond simple lease-up. The Smith River is a premier regional recreation draw known for trophy trout fishing, kayaking, and tubing, attracting visitors from Virginia, North Carolina, and beyond. Located just 8 miles from Martinsville on Route 220, with nearby Philpott Lake and Dam anchoring additional outdoor recreation demand year-round.

FOR SALE DETAILS

PRICE

$4,095,000 USD

PRICE/SF

$1 USD /SF

# OF UNITS

127

PRICE/UNIT

$32,244

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Smith River RV Park

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

PARKING SPACES

122

LAND DETAILS

LAND ACRES

75 AC

LAND SF

3,267,000 SF

ZONING

A-1, B-1

APN/PARCEL ID

228180000

ASK ABOUT THIS PROPERTY

Dylan BrazilCommercial Real Estate Investors IncMore Info
209-840-3460

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Dylan BrazilCommercial Real Estate Investors IncMore Info
209-840-3460

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