199 SITE RV COMMUNITYCOMMUNITY PRICE: $1,750,000

TERMS: ALL CASH

SILVER SPRINGS RV PARK 3151 NE 56TH AVENUESILVER SPRINGS, FL 34488

RECEIVER SA

LE

199 SITE RV COMMUNITYCOMMUNITY PRICE: $1,750,000

TERMS: ALL CASH

SITE INFORMATION

ADDRESS 3151 NE 56th AvenueSilver Springs, FL 34488

COUNTY Marion

TAX PARCEL ID 23973-000-00

SITES 199 RV

COMMUNITY TYPE All Age RV

YEAR BUILT 1965

COMBINED LAND SIZE & DENSITY 16.50 acres (12.06 sites/acre)

OCCUPIED PARK MODELS 91 (long term residents)

VACANT PARK OWNED PARK MODELS 12 (12x60 size)

MONTHLY PARK MODEL RENT

$310 (includes trash); $155 (during off season, if applicable)

MONTHLY RV RENT $310/month (includes trash)

DAILY RV RENT $30 (includes water, sewer, cable, trash)

ROADS Asphalt/Concrete

LP GAS Available on-site

FLOODPLAIN No

UTILITIES

WATER Marion County Utilities

SEWER Marion County Utilities

ELECTRICITY City of Ocala

GAS Amerigas

SILVER SPRINGS Community Price : $1,750,000 Terms: All Cash

• Silver Springs RV Park is conveniently located just off of State Rd. 40, which cuts through the center of Ocala to the west.

• Ocala, FL is a short 15 minute drive and offers options for dining, cinemas and shopping.

• The community is located directly across from Silver Springs State Park, which is home to one of the largest artesian spring formations in the world. It consists of 5,000 acres and offers attractions such as canoeing, kayaking and glass bottom boat rides.

• The Wild Waters Water Park is also located directly across the street and features a 450,000 gallon wave pool as well as fun slides and water rides.

• Nearby Ocala National Forest is home to some of the best bass fishing lakes in Florida including Lake Kerr and Lake George.

• Close proximity to several major shopping destinations, including Walmart, Ross and Lowe’s less than 2 miles away.

• Central location to some of Central Florida’s most popular destinations, including Daytona Beach, 70 miles to the east, Orlando, 80 miles to the southeast and Disney World.

• Major employers in the area include the Munroe Regional Medical center with 2,648 employees, Walmart with 2,370 employees and AT&T Southeast with 1,000 employees.

INVESTMENT HIGHLIGHTS

AREA HIGHLIGHTS

• Opportunity to acquire an attractive, peaceful RV resort with public utilities out of receivership.

• With 199 sites, Silver Springs RV Park is considered a larger RV Resort.

• RV sites are large enough to accommodate slide-outs, and come equipped with picnic tables and cable TV hook ups.

• There are 12 inventory park model homes (12x60) that will be included in the sale.

• The community features mature landscaping with large oaks and palm trees and is directly across from beautiful Silver Springs State Park.

• Amenities include a heated pool, shuffleboard court, horseshoes, bocce ball, game room, 24-hour laundry facility, designated dog walking paths, clean restrooms with showers, a gathering room, and free WiFi at the clubhouse.

• Active license to dispense and sell propane.

199 SITE RV COMMUNITYCOMMUNITY PRICE: $1,750,000

TERMS: ALL CASH

SILVER SPRINGS FINANCIAL ANALYSIS

1

2 Gross Scheduled Rent

Less: VacancyLess: Bad DebtTotal Rental Income

3 Plus: Utility Income3 Plus: Other Income7 Plus: Seasonal Income (Dec-Feb)7 Plus: Seasonal Income (Mar-Nov)

Total Other IncomeEffective Gross Income

EXPENSESRepairs & MaintenancePayrollAdministrativeMarketingProfessional Fees

4 Utilities Electricity Water & Sewer Cable GasTotal Variable Expenses

5 TaxesInsuranceManagement FeeTotal Operating Expenses

6 Plus: Capital ReservesTotal Expenses

NET OPERATING INCOME

Proforma

Financial Analysis

2011

0.00%Assumptions

2012 Sept'13 T-9 Inc Ann

$449,891$357,340

0.00%

INCOME

0

$423,350

0

$423,350100.00%

0.00%

0

110,7225,408

00

556

27

0

0

116,1300

$1,639

$1,639 $326,094

$213,387 $76,359$166,824

584

$539,481

0

317

104,306

0$1,877

00.00% 0.00%$1,877$1,638

0

0$325,992

00

$325,992$1,638

0.00%

$373,531

$373,5310

3,25616

Actualsper unit

$103

256

49

10

23

524

97

87 17,372

11,3955793

$1,22997

$326,94679

19,387

$271,793215

51,004

490

100

$1,366

63,042 43,329

19,75919,844

21842,804

15,646 19,392$244,580

5711,201

7,63053

18,471

0$326,094

97,42033,399

$137

Actual Exp

$27,269per unit

2,054 3810,46111,428

295

0

4,549

9,84658,80145,176

$264 $52,524Actual Exp

20,416

$449,891

0

0

100.00% $449,891

0

000

$357,340133,742

1,733

0

135,476$492,815

00

0.00%

0.00%

0

0

100.00%

672

9

per unit

227

168

681

0.00%

0.00%

0

0

0

56

38

26,28399

0

7,60133,064

102,903

166

517

132

$1,64314,58473

1.00%

58.41%

9

298

224

40.59%

692

per unit

$225

1,224

533

136

102

250

75

25

25

103$1,474

218

50$1,936

57

5.00%$1,886

$740,280

432,3987,403

1,78559,40044,550

$300,480137,755

$543,970

Buyers Exp

$44,775

243,490

105,99027,07120,351

49,75014,925

4,9754,975

$375,239

20,556$293,368

43,32911,34327,198

9,950$385,189

$158,780

1. Actual 2011,2012, and Sept’13 T-9 numbers based on borrower’s financials.

2. Proforma GSR includes income from permanent residents. It is our understanding that there are 91 annual tenants - 58 paying $310 year round, 23 paying $310 for six months and $155 for six months, and 10 paying $155 as a special rate (we assume half of these will roll over to $310).

3. Utility & Other Income grown 3% from 2012.

4. Adjusted Utilities grown 3% from Sept’13 T-9.

5. Proforma Taxes = 2013 Tax.

6. Capital Reserves expense does not reflect an actual expense.

7. Dec-Feb assumes $20,000/month in RV income during peak season and Mar-Nov assumes $5,000/month.

UNDERWRITING ASSUMPTIONS

199 SITE RV COMMUNITYCOMMUNITY PRICE: $1,750,000

TERMS: ALL CASH

SILVER SPRINGS AREA AERIAL & DEMOGRAPHICS

SILVER SPRINGS RV DEMOGRAPHIC INFORMATION 1 mile 3 mile 5 mile

2014 Population Estimate 1,368 17,772 55,415

2014 Est. Average Family Household Income $42,144 $47,579 $50,930

2014 Est. Median Owner-Occupied Housing Value $73,909 $98,893 $107,230

Renter Occupied Percentage 39.88% 25.30% 27.63%

Owner Occupied Percentage 60.12% 74.70% 72.37%

Source: 2014 Claritas, Inc.

Marion TechnicalInstitute

NE 36TH

STN

E 36TH ST

NE 7TH STNE 7TH ST

NE

8TH

AVE

NE

8TH

AVE

Silver SpringsState Park

E SILVER SPRINGS BLVD

E SILVER SPRINGS BLVD

Ward-HighlandsElementary School

Wyomina ParkElementary School

Howard Middle School

VanguardHigh School

Fort KingMiddle School

Ocean’s High School 35

40

NE 14TH STNE 14TH ST

40

SE 17TH STSE 17TH ST

40

441

301

27

464

200

492

NW 35TH ST NE 35TH STNW 35TH ST NE 35TH ST

NE

53RD A

VE

NE

53RD A

VE

NE 25TH

AVE

NE 25TH

AVE

NE 42ND STNE 42ND ST

E FORT KING ST E FORT KING ST

Silver RiverState Park

Pine Oaks of Ocala Golf Course

Ocala Golf Club

Ocala Regional Medical Center

Six Gun Plaza

®

Appleton Museum of Art

Marion CountyPublic Library

OCALA

199 SITE RV COMMUNITYCOMMUNITY PRICE: $1,750,000

TERMS: ALL CASH

SILVER SPRINGS LOCATION MAP

SILVER SPRINGS STATE PARK• The Silver Springs, one of the largest artesian spring formations in the world, was Florida’s first tourist attraction.

• The park now consists of ~5,000 acres along the Silver River and features an environmental center, museum, 15 miles of trails, and the Silver Springs Nature Theme Park.

WILD WATERS WATER PARK• The sister park to Silver Springs Theme Park. It features a 450,000 gallon wave pool as well as 5 other major rides and

attractions.

• A favorite destination for tourists in the area, the park offers a relaxed atmosphere for people wanting a more traditional water park experience.

OCALA NATIONAL FOREST• The second largest National Forest in Florida with 383,000 acres of pristine forest land and home to more than 600

lakes, rivers and springs.

• Popular activities include deer hunting, some of the best fishing in the state, camping, hiking, horseback riding, canoeing, and ATV trails.

DISNEY WORLD• The most visited theme park in the world.

• Home to 24 themed resorts, 4 theme parks, 2 water parks and several additional recreation and entertainment venues.

ORLANDO

DELTONA

LEESBURG SANFORD

DAYTONA BEACH

ORMONDBEACH

OCALA

95

95

4

4

75

75

45

50

40

19

91

44

15

COLT CREEKSTATE PARK

VIERA REGIONAL

PARK

LOWER WEKIVARIVER PRESERVE

STATE PARK

TIGER BAYSTATE FORESTLAKE GEORGE

STATE FOREST

SILVER SPRINGSSTATE PARK

LAKE GEORGE

LAKE WEIR

LAKE MONROE

LAKE APOPKA

LAKE HARRIS

35

50 unc

unc

RELATIONSHIPS THAT DELIVER RESULTS.

www.arausa.com

© ARA. All Rights Reserved

ARA NATIONAL MANUFACTURED HOUSING901 S MoPac ExpresswayBarton Oaks Plaza IISuite 275Austin, TX 78746

Todd Fletchertfletcher@arausa.com T 303-260-4470

Andrew Shihashih@arausa.com T 512-637-1219

Brian Vitabvita@arausa.com T 512-637-1221

Jon Shayjshay@arausa.com T 303-260-4486

E SILVER SPRINGS BLVD

E SILVER SPRINGS BLVD

NE 56TH

AVE

NE 56TH

AVE

BASELIN

E RDBA

SELINE RD

NE 32ND STNE 32ND ST

NE 31ST STNE 31ST ST

40Silver SpringsState Park

E SILVER SPRINGS BLVDE SILVER SPRINGS BLVD

This information has been derived from sources deemed reliable. However, it is subject to errors, omissions, price change and/or withdrawal, and no warranty is made as to the accuracy. Further, no warranties or representation shall be made by Apartment Realty Advisors (ARA) and/or its agents, representatives or affiliates regarding oral statements which have been made in the discussion of the above property. This presentation, prepared by ARA, was sent to the recipient under the assumption that s/ he is a buying principal. Any potential purchaser is advised that s/ he should either have the abstract covering the real estate which is the subject of the contract examined by an attorney of his/her selection, or be furnished a policy of title insurance. Do not contact the Property.

wInformation for Silver Springs is available on our website at: www.arausa.com/listinglab/SilverSpringsRVPark

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PARK MAP

N

S

W EN

.E. 57TH

AV

ENU

E

N.E. 56

TH A

VEN

UE

N.E. 31st STREET

TO OCALA

N.E. 32nd STREET

SILVER SPRINGS BLVD.

CLU

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GR

EENR

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FERN DR.

DOG WALK

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DOG WALK P16

DOG WALK

ADDITIONAL PARKING

MAP LEGENDDUMP STATION

BATH HOUSE

LAUNDRY

DUMPSTER

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