* Included in Asking Price
This popular and well established campground and RV Park is licensed for over 200 campsites and has invested quite heavily in capital improvements/additions/upgrades in the past several years.
The park is regarded as a family campground with strong occupancy, as it is noted for its oversized and/or treed lots.
Opening in early May and closing mid October, owning and operating a business like this for just over 5 months can provide a hands-on owner with a very flexible lifestyle and a rewarding return on investment. Work 5 months and make the money other businesses take 12 months to earn, while paying the same price.
Three year average Seller's Discretionary Earnings of $324,000. Owner lives on property and business pays for all living expenses, which have not been added back to calculate SDE.
Depending on timing of sale, there will be approximately $350K cash transferred on closing, from seasonal deposits/payments.
The current mortgage on the property is approximately $950K, and is to be assumed or refinanced with a new mortgage. For information purposes: A new mortgage of $1.6M, 20 year amortization, would have payments of approximately $135K per year.
Seller's discretionary earnings (SDE) are the pretax and pre-interest profits before non-cash expenses, owner benefits, one time investments, and any non-related income or expenses. In addition, SDI may require that expenses be adjusted if a new owner will necessarily need to take on a new expense.
There are several major additions to the business in the last 2 years, making it easier to operate and a better experience for the guests.
Over 1000 feet of water frontage.
There is room to add up to 200 sites, engineer assessment has been done.
Septic and Well services include a a dug well and a drilled well with an extensive engineered septic system with 30 tanks and 9 fields.
Owners' accommodations on property: 3 BR/ 1.5 BTH, approximately 1100 sqft.
Minimum Equity Required
Seller Reference #1189
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