319 T B Stanley Hwy, Bassett, VA 24055
6,200 SF Specialty Building Offered at $4,400,000 at a 7.95% Cap Rate in Bassett, VA 24055
For Sale
Active
Asking Price $4,400,000
- Property Type
-
Specialty
- Square Feet
- 6,200 SF
- Price / Square Foot
- $710
Listing Contacts
Max Kinser
- Property Info
Property Overview
-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 Details
- Class
- B
- Year Built
- 2020
- Stories
- 1
- Lot Size (sq. ft)
- 3,267,000 SF
Nearby Properties
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