319 T B Stanley Hwy
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319 T B Stanley Hwy
6,200 SF Speciality Building Offered at £3,476,044 at a 7.95% Net Initial Yield in Bassett, VA 24055
Executive Summary
-The Smith River RV Park is an established 122 site RV park located in the scenic Smith River valley in Bassett, VA with significant upside potential
-Total land area is 75 acres with over 700 ft of frontage on T B Stanley Hwy
-Bassett, VA is sandwiched between Roanoke, VA (97,000 people), Greensboro (301,000 people), and Winston Salem (251,000 people). - 12 mi to Martinsville Speedway, 10.6 mi to Philpott Dam (the source of the Smith River), and 9.4 mi to Fairy Stone State Park
-8% cap rate based on the trailing 12 months of NOI ($350,079.55) with significant value add potential with building out the additional sites (69 additional sites already approved)
-Year over year growth has shown to be 16% so far, and it appears it should continue to grow.
-Newly constructed, well built, and well cared for
-Total land area is 75 acres with over 700 ft of frontage on T B Stanley Hwy
-Bassett, VA is sandwiched between Roanoke, VA (97,000 people), Greensboro (301,000 people), and Winston Salem (251,000 people). - 12 mi to Martinsville Speedway, 10.6 mi to Philpott Dam (the source of the Smith River), and 9.4 mi to Fairy Stone State Park
-8% cap rate based on the trailing 12 months of NOI ($350,079.55) with significant value add potential with building out the additional sites (69 additional sites already approved)
-Year over year growth has shown to be 16% so far, and it appears it should continue to grow.
-Newly constructed, well built, and well cared for
Property Facts
| Price | £3,476,044 | Building Class | B |
| Price Per SF | £561 | Lot Size | 75.00 AC |
| Sale Type | Investment | Building Size | 6,200 SF |
| Net Initial Yield | 7.95% | Number of Floors | 1 |
| Sale Conditions | Business Value Included | Year Built | 2020 |
| Property Type | Speciality | Parking Ratio | 19.68/1,000 SF |
| Property Subtype | Trailer/Camper Park |
| Price | £3,476,044 |
| Price Per SF | £561 |
| Sale Type | Investment |
| Net Initial Yield | 7.95% |
| Sale Conditions | Business Value Included |
| Property Type | Speciality |
| Property Subtype | Trailer/Camper Park |
| Building Class | B |
| Lot Size | 75.00 AC |
| Building Size | 6,200 SF |
| Number of Floors | 1 |
| Year Built | 2020 |
| Parking Ratio | 19.68/1,000 SF |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £30,494 | |
| Land Assessment | £170,484 | Total Assessment | £200,979 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£170,484
Improvements Assessment
£30,494
Total Assessment
£200,979
zoning
| Zoning Code | A-1, B-1 |
| A-1, B-1 |
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Max Kinser -
McCoy Wright, Inc.
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319 T B Stanley Hwy
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