SLEEPY HOLLOW RV PARK...SLEEPY HOLLOW RV PARK Director - Houston Office 832.680.5231 832.741.2178...

RV PARK FOR SALE

SLEEPY HOLLOW RV PARK15931 TX-35, SWEENY, TX

Director - Houston [email protected] #9007588

CASEY THOM

MANUFACTURED HOUSING PROPERTY FOR SALE

15931 TX-35, SWEENY, TX

SLEEPY HOLLOW RV PARK

Director - Houston [email protected]

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 2

MORE INFORMATION ONLINE:sunstonerea.com

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



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




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





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



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%





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.





SECTION 2

PROPERTY INFORMATION

PROPERTY INFORMATION




CASEY THOM

RV PARK FOR SALE




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

SECTION 3

LOCATION INFORMATION

LOCATION INFORMATION




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.





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:





SECTION 4

SALE & RENT COMPS

SALE & RENT COMPS




CASEY THOM




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



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




SECTION 5

DEMOGRAPHICS

DEMOGRAPHICS




CASEY THOM


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




Exclusively listed by Sunstone Real Estate Advisors

SLEEPY HOLLOW RV PARK15931 TX-35, SWEENY, TX

FOR MORE INFORMATION PLEASE CONTACT:

Director - Houston [email protected]

CASEY THOM

SLEEPY HOLLOW RV PARK...SLEEPY HOLLOW RV PARK Director - Houston Office 832.680.5231 832.741.2178...

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Transcript of SLEEPY HOLLOW RV PARK...SLEEPY HOLLOW RV PARK Director - Houston Office 832.680.5231 832.741.2178...