Contact Information

Chuck Gray

ReMax Truman Lake

CONTACT BROKER

Price: $1,550,000
Purchase Method: Cash, Seller Financing, New Loan
Cap Rate: 11.0%
Listing ID: 4220831
Posted On: Dec 28, 2023
Updated On: Oct 2, 2024

Description

See Attached Offering Memorandum for more detail. 13 acres +/- directly off of Hwy 7 near Truman Lake and Warsaw, MO! Mobile home/ RV "lots." 86 are occupied 23 units storage buildings, shower house, and fish cleaning station located towards front middle of property. There are also 6 lots located off of Karrs Park Rd on the east side of property, these lots pay $100 month "HOA" for sewer connection & maintenance. Park has on site storm shelter, swimming pool, and office/ duplex that could be converted into additional full time or short term rentals, as well as a large equipment storage building, which are not currently rented out but could be to create additional revenue and upside quickly.
There is one double wide that is owned by the park. There is a life estate in place for the tenant who occupies home (contact me for more info)Property has an engineered, state certified septic system, system has the ability to handle additional sites.
Park provides water to main mobile home/ RV lots, but does not provide water to Blueberry Phase 2 lots. Park pays for electricity to each lot, and then collects back from tenant.

Location

Harry S Truman Lake is defined as a conglomerate of 4-counties; Henry County population 22,206, Benton County population 19,908, Hickory County population 8,607, and St. Clair County population 9,367.
Lake of the Ozark is defined as a conglomerate of 3-counties; The 2020 populations of said counties were as follows: Morgan County population 25,550, Camden County population 46,290 and Miller County population 27,277. All three counties are experiencing explosive growth rates.

Lake of the Ozark and Truman Lake experience a high influx of residents during the prime lake season (also prime ice season) March through October. With populations increasing dramatically as family and friends occupy their lake homes. Both lake areas are currently experiencing substantial growth in business, tech, and manufacturing as well. It appears the mass exit from big cities to the rural areas is here to stay.