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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.
There is over 80 acres, with 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 dug well and a drilled well with an extensive engineered septic system with 30 tanks and 9 fields.
Owners' accommodations on property are 3 BR/ 1.5 BTH, approximately 1100 sqft.
Equity required: $775,000
Asking $1,550,000 Share sale
Real Property Included
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