Listing Broker : Ryan Ramseur
Contact Ryan Ramseur: +1-678-932-0200

TALLAHASSEE, FL - Lakeside Travel RV Park is in the Panhandle County of Leon, just 5 miles east of I-10 in the heart of Florida’s Capitol City, Tallahassee. Proud to be the longest continually-operating RV park in Tallahassee, Lakeside Travel RV Park is minutes from Florida State University, Florida A&M University and Tallahassee Community College. Centrally-situated to all main attractions like fine dining, shopping, and entertainment, as well as the Tallahassee International Airport (TLH), residents and visitors have ease and convenience at their fingertips. With a population close to 400,000 Tallahassee has something for everyone and is still only an hour drive to many of Florida’s beautiful beaches.

Lakeside RV Travel Park offers 65 RV sites, 15 storage units (9 occupied), 2 commercial tenants (used car dealer and car detail warehouse), 2 apartments (one 1 bedroom/one 2 bedroom) and one dump station. A number of sites are 30/50 amp compatible. The warehouse tenant has been in place for 17 months with lease expiring in August. Indications are high for renewal with a 3% increase and 24 month term. The car lot tenant has been in place for 10+ years and has a month-to-month agreement. Additionally, there is a bathhouse (2 single baths/ 1 family ADA bath) and laundry room on premises.

Current ownership has been in-place since 2018 and has made several improvements to the property over the years. The updates include all new interior paint to office/apartments/warehouse, fully-renovated interior of bathhouse, a new WIFI system throughout the park, CCTV system installed, central A/C in the office and apartment replaced, repairs to roads, new infrastructure on lots, and park lighting upgraded to municipal LED lights.

The park is serviced by city water, 14 septic tanks, and 3 holding tanks that are in good working condition, maintained as needed and chemically treated. One tank was replaced in November 2021. There is a manager offsite and a maintenance person occupying one of the apartments at $300/mo. The manager is paid $12.50 per hour, six days a week, from 12pm-6pm. Resident manager and maintenance person willing to continue under new ownership. Roads are paved, recently repaired and are in good condition. There are trash dumpsters onsite for resident usage and serviced weekly. About half of the renters are long term tenants with some there for more than 10 years. Ownership has slowly been increasing rents over their tenure of the park and renting to any new tenants at current market rates of $780/mo.

The park is currently 83% occupied, offering new ownership substantial upside to filling the remaining lots. Gross rent collections for 2022 were $416,000, and the park has seen a 75% growth in overnight stays from 2020 to 2022. Current lot rents are averaging $553/month. Market data analysis suggests an average lot rent of ±$750/month is achievable as well as increases to daily and weekly stays, offering new ownership excellent upside.

The ability for new ownership to fill vacancies, coupled with the potential to raise rents, makes Lakeside Travel RV Park a tremendous investment opportunity in one of Florida’s premier destinations. We are asking investors to submit offers at, or above, $2,775,000 for the park.