The Esterson MHC Team is pleased to present Bush Park Camping Resort, a 739-site RV park, campground and marina resort with a mile and half of river frontage located in Wake, VA. Family owned for generations, the park is a peaceful wonderland of nature conveniently along the Rappahannock River and the Chesapeake Bay. Bush Park Camping Resort is situated on 92 acres, once belonging to Bush Park Farms, part of the original Churchill Farms. The surrounding area is steep in American history and includes many historic landmarks and points of interest. Richmond, Newport News, Colonial Williamsburg, Yorktown, and Jamestown are within a one-hour drive of the Bush Park Camping Resort.
Bush Park Camping Resort is a seasonal campground that’s highly occupied and is open from April 1 through November 13. The resort is fully staffed and helps run the park both on and off-season. The park consists of 739 rentable units – 530 RV sites (495 seasonal lots, 35 overnight lots), 182 marina/boat slips and 27 garage/storage units. Other amenities include two boat ramps, fishing piers, an outdoor playpark, two large swimming pools with spacious sundecks and a kiddie pool, laundry facilities, updated bath houses, an entertainment pavilion, frequent seasonal events, and a camp store.
The park is serviced by wells and septic tanks which are maintained and paid for by the park. Trash is paid for by the park. All utility systems are in good working order. The privately maintained roads are in average condition. The park is not in a flood-zone but the shoreline and docks are.
Despite being a stabilized, cash flowing asset, there’s still plenty of upside left on the table for an incoming investor to strongly increase revenues and reduce expenses. Based on a survey we conducted of local parks, seasonal, weekly, and nightly RV rates at Bush Park Camping Resort Campground are all well below market.
Full hook-up sites at Bush Park rent for $2,155 – $3,135 per season on average, while comparable parks in the area charge up to $4,500 per season. Most, if not all, of the comparable parks in the area are running at high occupancy, with waiting lists, and are charging anywhere up to $174 a night, and $990/weekly, for full hook-up RV sites. Not only is there room to push rents, but there’s also opportunities to generate additional revenue from the boat slips, boat and RV storage, and garage/storage units.
This unparalleled family getaway in a great location is being offered as a stabilized RV park & marina resort, with significant value-add upside, additional revenue growth opportunities, and possible future expansion potential. We are asking that all investors submit their best offers, as no pricing guidance will be given. Not all offers will be countered. All offers must include price, inspection timelines, appropriate terms, proof of funds, a list of the due diligence they require from the owners, along with a bio and relevant real estate experience.