AMADO, Ariz., – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Mountain View RV Ranch, a 10-acre recreational vehicles park with 16.54 additional acres of undeveloped land located in Amado, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold at a 7.47% cap rate.
Michael Escobedo, an investment specialist in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. “The out-of-state owner wanted to roll their funds into an easier investment close to home,” Escobedo explained. The buyer, an individual/personal trust, was also procured by Escobedo. “The buyer, a local owner operator, purchased as an all-cash 1031 exchange and plans to upgrade the park by bringing in new units and developing the additional 16.54 acres of undeveloped land adjacent to the park,” he added.
Mountain View RV Ranch is located at 2843 East Frontage Road in Amado, just off Interstate-19 and eight minutes north of the United States/Mexico border. Built in 1975, the property is comprised of 72 RV spaces, 24 mobile home units, and dry camping sites for overnight campers. Mountain View RV Ranch offers full hookups and 30/50 electric amp, as well as many fully renovated amenities including a clubhouse, heated pool, community fire pit, shower house, laundry room, general store, and cable and Wi-Fi availability. The additional 16.54 acres of undeveloped land is zoned with a conditional use permit for RV spaces, offering the buyer the opportunity to expand.