New Horizons Realty Advisors
Monument RV Resort and Storage607 Highway 340, Fruita, CO 81521•$5,250,000 Sales Price
•Four star RV resort with self-storage facility
•Amenities include pool, spa, updated fitness
room, five cabins, rented single family home, two
laundry rooms, and clubhouse
•Near full occupancy in summer, storage is 85%
occupied. Turnkey operation with management in
place
•45 minutes from world-class skiing in winter
months, minutes from national parks in summer
For Further Information Contact:
Ross Cooper – New Horizons Realty Advisors
John Sheedy – Park Brokerage Inc.
John Grant – Park Brokerage Inc.
Ross Cooper: 602-369-9093
Email: [email protected]
John Sheedy: 602-821-4666
Email: [email protected]
Information contained herein has been obtained from the owner of the property or from other sources that we deem
reliable.We have no reason to doubt its accuracy but we do not guarantee it.
30,000 SF Self-Storage and 100 Space
Four Star RV Resort for Sale
Monument RV Resort and Storage
Near Grand Junction, Skiing, and National Parks
328 Sites/Units on 8 Acres with Pool, Single Family Home, Clubhouse, and
Cabins
Down Payment
$1,312,500
Sales Price
$5,250,000
LOAN INFORMATION:Lender will offer a 75% LTV or $3,843,750 at 4.25% fixed interest with monthly payments amortized over 25 years with a 10 years term, monthly loan payment to be $21,330.94 with $90,375 to principal year one.
Property Information and Description:Turnkey RV resort and self-storage property located in Fruita, Colorado near the Grand Junction MSA halfway between Salt Lake City and
Denver markets. Park is impeccably managed by a terrific on-site team which allows the absentee owner to only visit twice per year. Storage rates have not been raised in four years and are 85% occupied. See below for breakdown on rental storage units. RV park is nearly full every summer with hiking, rafting, wine tasting, national parks, and music and art festivals all nearby. The park has 25 permanent residents plus is only 45 minutes from world class skiing which provide winter revenue. Telluride and Aspen are under 2 hours way. Park has free WiFi, pool, cable, clubhouse, two laundry facilities, and an updated fitness center. Park also contains 5 cabins and nearly all sites have 50amp service. Park charges additionally for electricity on monthly stays or longer in RV park, water and sewer are not passed through to residents. Streets
and common area buildings have been maintained perfectly which means no deferred maintenance for new owner, streets and storagefacility roof just re-done for example. Broker recommends following to increase occupancy: implement online reservation program on website
for both storage and RV resort. This includes use of Expedia or hotels.com for cabins for ski crowd. Potential to pass through water costs to permanent residents as well as add full service sites to water-electric sites only. Population of general area has increased 26.7% since 2000 so tremendous growth in the area specifically with retirees as area boasts five full service hospitals. Direct flights daily from Phoenix, Los Angeles,
Las Vegas, Denver and Salt Lake City to Grand Junction.
Rental Survey - Self-Storage FacilitiesRental Survey – RV Park
County
MesaState
Colorado
Estimated Vacancy & Expense
See Actual, Pro Forma, Rent Roll
Age
RV – 1980/Storage -1996
Loan
New Loan
Total Parcel Size
24 Acres
Good Sam Rating
9.5/10/8.5
Water
City
Sewer
City
All Ages Price Per Space/Site: $16,006.09
NET INCOME $378,451
TOTAL ANNUAL PRINCIPAL $255,964& INTEREST PAYMENT
ESTIMATED ANNUAL PRE-TAX $122,487CASH FLOW (SPENDABLE)
PLUS PRINCIPAL REDUCTION YEAR 1 $90,375
TOTAL RETURN $212,862
Address/City
607 Highway 340, Fruita
Capitalization Rate
7.2%
Cash on Cash
9.3%
Total Return Year 1
16.2%
Name of Park Distance Monthly Rent
Junction West RV Park 7.4 miles $500-630
RV Ranch Grand Junction 14.3 miles $485-495
Grand Junction KOA 15.1 miles $490
Name Distance 10x10 10x20 10x30
Storage LLC 10.6 miles $65 $95 $130
T&J Mini-Storage 11.6 miles $70 $100 $140
Cornerstone Storage 12.9 miles $70 $100 $135
Financial Information and Pro Forma
Park shares advertising budget with sister park in Arizona
Jan – Mar show 8% increase in revenue for monthly rental revenue indicating strong winter months. All nightly rentals including cabins raised 5% for summer 2016 plus low gas prices will contribute to big summer
.
Financial Information and Pro Forma
Staffed maintenance and management do majority of R&M for the park as part of salary/rent compensation program
Park hosts a few different events for guests every year. Special events covers said costs
.
Financial Information and Pro Forma
NOI used for valuation
Unit Size Total Units Units Rented Rent
6 x 10 36 28 $52.00
6 x 15 4 4 $60.00
10 x 10 64 52 $65.00
10 x 15 22 21 $80.00
12 x 15 8 8 $93.00
12 x 20 14 11 $115.00
13 x 15 8 7 $87.50
10 x 20 6 6 $104.00
10 x 30 6 6 $128.00
10 x 18 RV Open 17 17 $48.00
10 x 40 RV Open 15 13 $68.00
12 x 30 RV Closed 15 14 $73.00
12 x 60 RV Open 4 3 $83.00
Storage Rent Roll