1301 E Cr 140
Midland, TX 79709

$4,200,000

Description

A boomin opportunity with a return as good as the black gold surrounding it. Centered in the heart of the West Texas Oilfields this low maintenance RV Park investment yields a healthy 11.86% cap rate with a 98+%, year-round occupancy. This Park boasts 74 total spaces on approx. 5.5 acres with private well & septic, underground electric, cable & internet. Spaces currently rent for $650 & $750 on larger spaces, all utilities included. Recently, a multi-unit laundry & common showers were added for additional revenue. A manager is currently in place for a hands-off operation or it could easily be managed yourself. #1 in crude & #2 on natural gas production in the State of Texas. The Cap rate is approx. 11.86%.

Details

MLS#14149458
Sub-TypeResale
StatusActive
Year2018
Days On Site19

Features

SQ Feet600
Story(s)1
Units74
Zoningcommerc

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Area Information

StateTX
CountyMidland
CityMidland
Zip Code79709
AreaOTHER AREAS WITHIN THE U.S. (999)
Listing VS Median (in 79709)
Price:
$4,200,000
low | high
Med:
$4,200,000
50% of Average
SqFt:
600
low | high
Med:
600
50% of Average
$ / SqFt:
$7,000
low | high
Med:
$7,000
50% of Average
On Site:
19
low | high
Med:
19
100% of Average
Listing Updated: 08/24/2019
MLS Number: 14149458
Listing Provided By:
Troy Luecke  of  The Platinum Group Real Estate

All information provided by seller and is deemed to be correct, but is not guaranteed.  Buyer to verify and satisfy themselves with all information listed including but not limited to lot size, room sizes and square footage.  Buyers are encouraged to have property inspected by inspector of their choice.  Price subject to change.