Miracle RV Park in Tucson Fetches $1 Million

Miracle Tucson, LLC (Jay Thompson and Anthony Carter) of Irvine, CA purchased the Miracle RV Park at 333 West Glenn Street in Tucson for $1 million ($11,628 per space). The 86-space RV Park was 88% occupied when it sold.

Amenities include all paved roads, a recently renovated 1,376-square-foot clubhouse / office (built 1973) with pool table, lounging area, library, cable TV, internet and laundry facilities. The seller had also planted 200 trees on the property 6-years prior to selling.

This property is centrally located in a central Tucson location near malls, bus lines, shopping centers, and much more.

The Peterson Commercial Group with Keller Williams handled the transaction for buyer and seller, Emron & Betty Jenkins. Pete Peterson of Keller Williams represented the seller and Tiffany Johnston, also with Keller Williams represented the investor.

Peterson should be contacted at (520) 615-8400, while Johnston is at (520) 869-9706.

[mepr-show rules=”58038″]Sale date: 12/6/2013. Buyer paid $120,000 down with a seller carry back for the balance at 6% with a 6-year balloon. Property was reported to have sold at an 11% cap rate and closed escrow in 30-days.[/mepr-show]