Stunning Ocean Front RV Park w/ 300+ sites
This very popular location is located on seemingly endless miles of clean, unobstructed sandy beaches and has a reputation for having the warmest waters north of Virginia and one of the best salt-water beaches in Canada. Your life here is surrounded by a multitude of attractions, providing plenty of family-oriented options that are fun, exciting and pleasing to campers of all ages.
Open less than 5 months per year, all seasonal sites have been completely occupied for many seasons and are fully reserved and paid-up for the 2020 season, which equates to more than $500K in the bank before opening.
278 of the available sites are full service, 30 AMP, with all power being upgraded to code since 2017.
Other profit centres include seasonal camper deck construction, overnight tourist sites, non-camper beach & visitor passes & on-site store sales. The business offers a games room, store, great fishing, a jumping pillow, several playgrounds, adult only swimming pool and a large building for indoor activities including dances, pool, darts, etc.
Seller's Discretionary Earning have being growing every year, have averaged $421K over the past 3 years, was $427K for this season, and is expected to be $472K for 2020.
There are multiple income sources in this business with an easy opportunity to create more, should you wish.
For the 2020 season, gross sales are expected to exceed $675K, with forecasted SDE greater than $470K, and is based on 2019 revenue plus a $40,800 seasonal site fee rate increase for 2020. There has not been an unoccupied seasonal site for the past 7 years (during present ownership) and no unoccupied seasonal sites in 2020 will make it 8 consecutive years. There will be over $500K cash in the bank before the season starts, from seasonal payments of campers.
For information purposes: A new mortgage of $2.7M, 20 year amortization, would have payments of approximately $225K per year.Real Estate
Includes a restored cottage, a large rental trailer, and a very large 3-bedroom home (approximately 6,000 sqft) which has a 2-bedroom apartment (leased on an annual basis), a 4-room office suite, as well as a campground manager’s office.
- Upgraded sewer system with a recently constructed (2012) on-site sewage treatment and disposal plant.
- In 2016 and 2017, the park went through a complete site electrical analysis and upgrade. All site wiring and connections that did not meet current standards were replaced.
- There are a total of 3 PIDs included, totalling approximately 28 acres + an additional 4 acres of seasonally leased land.
- The residential home is on one PID, and may be possible to obtain a residential mortgage.