5000 se 183rd ave rd ocklawaha, fl 32179 · land and home to more than 600 lakes, rivers and...
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180 SITE MHC / rv park INvESTMENT OppOrTUNITYprICE: $1,350,000TErMS: aLL CaSH
w
SE 183rd Avenue Rd
LAKE BRYANTN
SE 52nd St
REO
LAKE BRYANT mHC & RV PARK 5000 SE 183RD AVE RD OCKLAWAHA, FL 32179
For a video tour of Lake Bryant go to: http://youtu.be/Rtjo_ZpASXw
180 SITE MHC / rv park INvESTMENT OppOrTUNITYprICE: $1,350,000TErMS: aLL CaSH
SiTE iNFORmATiONCOMMUNITY Lake Bryant MH & RV Park
AddRess 5000 se 183rd AvenueOcklawaha, FL 32179
PRICe $1,350,000COUNTY MarionTAx MAP PARCeL 32900-000-00
ZONING P-RV & B-2 (RV Park & Community Business)
sITes 180 (MH - 84 / RV - 96)COMMUNITY TYPe All Age MH/RV
YeAR BUILT 1969
LANd sIZe 43.50 acres (4.14 sites/acre)
MH PHYsICAL OCCUPANCY 98.8% (as of July 2013)
MH eCONOMIC OCCUPANCY 95.2% (as of July 2013)
MARKeT LANd LeAse ReNTs
$305 (includes water, sewer, trash)
MARKeT RV RATes
standard: $30 daily; $185Weekly; $360 Monthly
Premium: $35 daily; $225Weekly; $425 Monthly
MH INVeNTORY HOMes
3 (Vacant as of July 2013)
ROAds Asphalt
eLeCTRIC CAPACITY30 amp service for RV sites, approx. 70-80 for MH sites
uTiLiTiESWATeR Marion County (master meter)
seWeR Private sewage Treatment Plant
eLeCTRICITY Clay Coop (direct billed)
TRAsH Waste Management
LAKE BRYANT mH & RV PARK Price : $1,350,000 Terms: All Cash
• Opportunity to acquire a large, scenic, low density, ReO community with 84 MH sites and 96 RV sites with frontage on beautiful Lake Bryant in the heart of the Ocala National Forest.
• The MH operations are nearly full, producing steady cash flow from month to month.
• RV spaces available for daily, weekly, and monthly rental.
• Outstanding management turnaround opportunity - the community is being offered at an attractive basis with the potential to stabilize RV operations through a comprehensive marketing effort.
• Potential expansion opportunity to build out 19 additional undeveloped sites.
• Ability to start charging guest fees like local competitors.
• Amenities offered to residents and guests include a private on-site beach with lake access, a new boat ramp, a spacious clubhouse built in 2004, a community store, shuffleboard, horseshoes, volleyball, and basketball.
• Lake Bryant is known as a premier trophy bass fishing location.
• Although the wastewater treatment plant will require a capacity upgrade as occupancy in the park improves, a recent smoke test determined the PVC lines throughout the community appear to be in good condition.
• Lake Bryant MH & RV Park is conveniently located on the banks of Lake Bryant in the heart of the Ocala National Forest with close proximity to silver springs and the recently opened Canyon Zip Line and Canopy Tours.
• The Ocala National Forest is 383,000 acres of pristine forest land and home to more than 600 lakes, rivers and springs.
• Lake Bryant is an 850 acre lake offering some of the best fishing in Florida.
• easy access to Ocala, FL, 22 miles to the West and the Village of Ocklawaha, only 10 miles to the South, offering options for dining, cinemas, bowling and golf.
• The community is in close proximity to some of Central Florida’s most popular vacation destinations, including daytona Beach 60 miles to the east, and disney World only 75 miles to the south.
• several large employers in the area including the Munroe Regional Medical Center, a 421 Bed facility that employs over 2,600 people, as well as the College of Central Florida with over 18,000 students and nearly 400 staff.
INVesTMeNT HIGHLIGHTs
AReA HIGHLIGHTs
180 SITE MHC / rv park INvESTMENT OppOrTUNITYprICE: $1,350,000TErMS: aLL CaSH
LAKE BRYANT FiNANCiAL ANALYSiS
UNdeRWRITING AssUMPTIONs 1. Actual numbers based on financials provided by the client
2. Proforma GsR grown 0% from July 2013 Rent Roll
3. Utility & Other Income grown 3% from June’13 T-12
4. Adjusted Utilities grown 3% from June’13 T-12
5. Proforma Taxes = 2012 Tax grown by 3%
6. Numbers do not reflect actual expense
1
2 Gross Scheduled RentLess: (Gain)/Loss-to-LeaseGross Potential Income
Less: VacancyLess: Employee/ModelLess: Bad DebtLess: ConcessionsTotal Rental Income
3 Plus: Utility Income3 Plus: Other Income
Plus: RV IncomePlus: Retail SalesTotal Other IncomeEffective Gross Income
EXPENSESRepairs & MaintenancePayrollAdministrativeMarketingProfessional Fees
4 Utilities Electricity Water Sewer Gas TrashTotal Variable Expenses
5 TaxesOther TaxCost of Goods SoldInsuranceManagement FeeTotal Operating Expenses
6 Plus: Capital ReservesTotal Expenses
NET OPERATING INCOME
June'13 T-12 2013-14 Budget
0.00%
Assumptions
$380,64000.00%
Proforma
Financial Analysis
$251,40193.37%
6.63%
0.00%
$269,260
17,8590
$269,260
00
0.00%
0.00%
0.00%
INCOME
0
202
75,547207
01,790
36,44937,308
0
10
420
$326,948
12,400
198
216
26
32,667
-$52,727 $36,155
$2,109
$2,109 $379,674
Actualsper unit
0$352,446
00
$352,446$1,958
0.00%3.79%
$1,9580
7
36,000200
$215
823
175
3
63
181
0
167
59
40
$1,5357,200
0
148,161
4,66635,602
0
$276,314
6,292
0$379,674
30,00018,000
5,194
10,600
38,870
272 1,200
$281,84438,870
2
29
216
76 13,597
1,262735
$1,566
38,627
11,410
31,447150,229
$145
Actual Exp
$26,080
470 4,55022,455
6,00025
4.00%
0.00%
15.00%
0.00%
80,283$388,601
38,00036,000
$308,3180
6,283
15,2260
$380,640
57,0960
125
33
0
per unit
835
100
446
211
200
81.00%
0
35
91.50%
0
0.00%
4.00%
0.00%
0.00%
4.50%
78
59
600
100
25
35
per unit
$150
432
10
209
213
$298,0520
$325,7400
$325,740
14,6580
13,0300
50
$1,903
35
5.00%
$1,853
26
200
2
30
$1,265222
187 33,64714,00510,600
108,00018,0004,5006,300
$375,865
Buyers Exp
$27,000
77,813
1,84337,54338,427
6,30018,793
9,000$342,477
$33,388
$333,477
2805,350
$227,68240,0364,666
36,000
180 SITE MHC / rv park INvESTMENT OppOrTUNITYprICE: $1,350,000TErMS: aLL CaSH
OCALA
OCKLAWAHA
75
40
19
15OCALA NATIONAL
FOREST
LAKE GEORGE STATE FOREST
LAKE GEORGE
LAKE WEIR
35
1
2
3
4
5
6
7
LAKE BRYANT / OCALA mAP & DEmOGRAPHiCS
Source 2013 Claritas, Inc. 1 mile 3 mile 5 mile627 5,261 8,163638 5,298 8,2270.35% ‐0.28% ‐0.27%1.69% 0.70% 0.78%
17.22% 16.34% 17.25% Owner Occupied Percentage 82.78% 83.62% 82.72%
$33,503 $34,534 $34,106$55,362 $59,253 $58,556 2013 Est. Median Owner‐Occupied Housing Value
2013 Est. Average Family Household Income
2013 Population Estimate 2018 Population Projection Population Growth 2010‐2013 Population Growth Estimate 2013‐2018
Renter Occupied Percentage
1
2
3
4
5
6
7
Munroe Regional Medical CenterCollege of Central FloridaPaddock MallMarion Technical InstitutePublic Churchill squareWal-mart supercenterOcala shopping Center
OCALA
180 SITE MHC / rv park INvESTMENT OppOrTUNITYprICE: $1,350,000TErMS: aLL CaSH
ORLANDO
DELTONA
LEESBURG SANFORD
DAYTONA BEACH
ORMONDBEACH
OCALA
95
95
4
4
75
75
45
50
40
19
91
44
15
COLT CREEKSTATE PARK
VIERA REGIONAL
PARK
LOWER WEKIVARIVER PRESERVE
STATE PARK
TIGER BAYSTATE FORESTLAKE GEORGE
STATE FOREST
LAKE GEORGE
LAKE WEIR
LAKE MONROE
LAKE APOPKA
LAKE HARRIS
35
50 unc
OCALA NATiONAL FOREST• The second largest National Forest in Florida, covering approximately 607 square
miles, and receives the most visitors each year.• Home to a tremendous variety of wildlife and some of the most beautiful natural
springs in the state.• Popular activities include deer hunting, fishing, camping, hiking, horseback riding,
canoeing, and ATV trails.
DiSNEY WORLD• The most visited theme park in the world.• Home to 24 themed resorts, 4 theme parks, 2 water parks and several additional
recreation and entertainment venues.• Home to 5 world class golf courses.
DAYTONA BEACH• Popular tourist destination 60 Miles to the east that hosts over 8,000,000 visitors
each year.• The principal city of the “Fun Coast” region of Florida.• Home to the daytona International speedway and the daytona 500, the largest
race in Nascar.
LAKE BRYANT AREA RECREATiON iNFORmATiON & mAP
901 s. MoPac expresswayBarton Oaks Plaza IIsuite 275Austin, Tx 78746T 512-342-8100 F 512-637-1740
RELATiONSHiPS THAT DELiVER RESuLTS.
www.arausa.com© ARA. All Rights Reserved
The brief, selected information contained herein has been derived from sources deem reliable. However, It does not purport to be all-inclusive or to contain all the informationwhich a prospective purchaser may desire. It is subject to errors, omissions, price changes and /or withdrawal. Neither Apartment Realty Advisors (ARA), nor the owner, norany of their respective employees, officers, agents, or representatives, make any representation or warranty, expressed or implied, as to the accuracy or completeness ofthe information contained herein and no legal liability is assumed or to be implied with respect thereto. Further no warranties or representations shall be made by (ARA),the owner, and/or its their respective employees, officers, agents, representatives or affiliates regarding any oral statements which have been made in the discussion of theabove property. This presentation, prepared by ARA, was sent to the recipient under the assumption that s/he is a buying principal. Any potential purchaser is advised that s/he should either have the abstract covering the real estate which is the subject of any contract examined by an attorney of his/her selection, or be furnished a policy of titleinsurance. Do not contact the Property.
ARA NATIONAL MANUFACTURED HOUSING GROUP:
Todd [email protected] T 303-260-4470
Andrew [email protected] T 512-637-1219
Brian [email protected] T 512-637-1221
w information for Lake Bryant is available on our website at: www.arausa.com/listinglab/LakeBryant For a video tour of Lake Bryant go to: http://youtu.be/Rtjo_ZpASXw