Investment Overview

Marcus & Millichap is pleased to present Fountain Grass RV Park & Cabins, a 38-space cabin community in Angleton, Texas. The park is located just north of Freeport, and only a short drive from Dow Chemical Freeport, BASF in Clute, INEOS, and Freeport LNG. Fountain Grass Park is perfect for plant workers looking for an extended stay and a short commute. Fountain Grass RV Park & Cabins is being offered at a 10.14 percent capitalization rate with an estimated net operating income of $324,592. The Park consists of 33 park-owned cabins, five covered RV lots, a front office, a game room, and a laundry facility equipped with five leased washers and five dryers. Operating like a hotel, the cabins are available for weekly rentals only. The accommodations include 16 single-unit cabins and 17 split-unit cabins, all fully furnished and equipped with complimentary Wi-Fi and flat-screen TVs, along with weekly cleaning services. Weekly rental rates for the cabins range from $270 to $370, while the monthly rate for covered RV lots is set at $600. The park historically operates at 90 percent occupancy. The Park operates on a well and septic system. The park has potential for expansion if the existing septic system is removed and replaced with city sewer lines, or if a new septic treatment plant is installed. The water, sewer, electric, trash, Wi-Fi, and cable are all included in the rent. The Park has a manager/receptionist, handy man, and a cleaning service that comes once a week. The handy man lives onsite in one of the RVs toward the back of the park. Please do not visit the park without prior approval. Please arrange property tours with Marcus & Millichap listing agents.