Park Brokerage is proud to announce the sales of the Sierra Vista RV Park located in Casa Grande, Arizona was completed on March 29, 2019 for the price of $1.66 million ($19,529 per space). John Sheedy represented the sellers in each transaction while procuring the Florida-based experienced buyer.
Sierra Vista is an 85 site all-ages RV park with a near 100% occupancy located three miles west of Casa Grande, Arizona. The park is on a large fifteen-acre parcel with local approval to expand to 160 sites. The park is on a private well and septic system, has gravel roads, and has a limited amenity package which consists of a store, laundry room, and storage area. The property was in poor condition when the seller purchased it in 2017 however sold in quality shape. The seller improved the entry area, built the storage component, and reduced the vacancy occupancy up to market levels to achieve stabilization. Rents were slightly before market at time of sale and vacancy was under five percent.
John Sheedy commented "this is a win-win deal for both parties whom I was happy to represent on this transaction. The seller did an excellent job stabilizing the property from its former condition and the buyer stands to take over a park with rent upside and expansion opportunities due to local job growth especially with Lucid Motors plant opening nearby."
Please feel free to contact John for more information about this sale at 602-821-4666 or at [email protected]