Royal Community MH & RV Park

Snyder, Texas

Property overview

The Scurry Area Canyon Reef Operators (SACROC) oilfield is among the largest and most productive in the nation. In addition to the SACROC field, Snyder is also located within the footprint of the newly discovered Cline Shale in 2013.Devon Energy estimates the Cline Shale to produce 30 billion barrels of oil, surpassing the Bakken Shale in North Dakota and the Eagle Ford Shale in South Texas. As exploration and development of this new shale continues in the Snyder area, the city is expected to see a large population increase with new restaurants, apartments, and retail shopping.

MHRE Inc. is pleased to offer Royal Community MH & RV Park for sale. The property is located in Snyder, Texas, approximately 80 miles in between Midland/Odessa and Lubbock. The community is within the Permian Basin, one of the state’s leading oil-producing regions, attracting long-term tenants among the oil & gas sector, in addition to nearby windfarms.

Royal Community MH & RV Park
241 US Highway 84 North
Snyder, Texas 79549

For detailed information on this property please contact: Enon Winkler (407) 616-0250.

Property Summary

Total Sites89
MHP/RV Sites49/40
Year Constructed1974
Land (Acres) +26.02 (Incl. 6.02 AC Expansion Land)
Occupancy85%
Average Rent/Site$347
PRIMARY USEMH & RV
PROPERTY TYPEAll-Ages
WATERPrivate Well
SEWERSeptic

OFFERING SUMMARY

Community Price$2,100,000
Total Investment$2,100,000
Cap Rate (Without Reserves)11.51%
Operating Expense Ratio (At Close With Reserves)54.13%
NOI - Year 1 (With Reserves)241,720

HOME SUMMARY

PARK OWNED HOMES49