Capstone Manufactured Housing is pleased to present Commerce
Athens KOA, a 147-site RV Park in Commerce, Georgia. Originally a 65-site park,
the current owners recently completed the construction of 70 additional RV
sites and 10 new cabins. The owners are awaiting approval for 25 more RV sites,
which would increase the total site count to 172 sites. Due to significant
growth in the immediate area, the park has operated at 90%, or higher,
occupancy for years. As an added benefit, the community has always run on an
extended-stay reservation basis; it is currently 88% occupied with
extended-stay residents. This unique nature of the community is similar to that
of a manufactured housing community, stabilizing the cash flow with continuous
income. In November 2021, the owners converted the park to a KOA, which has
helped fill the 12 short-term sites with transient activity. Those sites
continue to be 70% occupied on a nightly basis. Nevertheless, when the
franchise agreement ends in February 2024, a new owner has the opportunity to
move away from KOA and focus on long-term residents or heavily advertising the
short-term stays.
Furthermore, the current owner has completed a significant amount
of recent capital improvement projects, which has elevated the community
experience. These improvements include, but are not limited to, an upgraded
playground and swimming pool, along with constructing a new clubhouse and
maintenance shed. In April, the owner began to collect electric income from the
long-term residents, which brings in an additional ~$7,000 of monthly income.
This offering presents the opportunity for investors to acquire a
well-maintained RV Resort with steady cash flow from extended-stay residents and operational efficiencies.
Majority Extended-Stay RV Residents
Increasing RV Income/Demand
Historical 90%+ Occupancy
Multiple Recent Capital Improvements
10 New Cabins, Recent Electric Reimbursement, & 25
Potential Expansion RV Sites will Continue to Increase Income
Well-Maintained Community with an Excellent Amenities
Package
Strategically Positioned 1.5 Miles from I-85, with Excellent
Retail Options in the Immediate Area