Crystal Coast RV Resort Portfolio - NC — Sale in Harkers Island, NC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Harkers Island, NC 28531

Photos

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Description

Marcus & Millichap is pleased to present a 2 Park Portfolio in Carteret County, North Carolina, consisting of Harkers Island RV Resort and Atlantic RV Resort. Situated across 72.38 total acres on North Carolina’s Crystal Coast, this portfolio offers a rare combination of stabilized RV resort income, marina operations, and significant development potential in one of the state’s most desirable coastal markets. Harkers Island RV Resort is a 201-unit waterfront RV resort and marina located at 288 Guthrie Drive, Harkers Island, NC, spanning 13.52 acres on the Straits waterfront. The property features 128 occupied RV lots (24 straits-front at $7,300/year and 28 harborfront/marshfront at $6,800/year, plus interior lots at $6,200/year), 42 boat lifts averaging $400/month, 30 dry boat storage lots at $46/month, and fee income from transfer fees and other ancillary sources. Harkers Island generates $1,092,965 in gross revenue with $911,343 in NOI (P&L 1) at 100% RV occupancy. The park operates with city water and city sewer (landlord pays, included in rent), with electric direct-billed to tenants. Harkers Island is permitted to expand from 42 to approximately 80 total boat lifts, representing meaningful incremental marina revenue. Atlantic RV Resort is a 137-unit RV resort and marina located at 1001 Morris Marina Road, Atlantic, NC, spanning 58.86 acres with expansive waterfront access and a newly renovated restaurant. The property currently operates 31 occupied RV lots at an average of $546/month, 9 boat lifts averaging $324/month, 1 ferry slip rented to the Cape Lookout Ferry at $2,500/month, and 1 construction slip at $750/month. Atlantic RV generates $277,000 in gross revenue with $186,800 in NOI (P&L 1) at only 30.7% RV occupancy. The property is permitted for 282 total RV lots with roads already paved and built out for approximately 175 additional sites, plus permits to add 20 additional boat lifts. Soil has been tested for additional septic, and the park includes 30 dr

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