Updated Oct 29, 2024
Robert Denninger Of Marcus & Millichap Brokers Cedar Grove Park RV Resort Sale In Baytown
4419 N Hwy 146, Baytown, TX, 77521
Building Size
—
Asset Type
Commercial
Closing
Nov 22, 2023
About this deal
AI
Cedar Grove Park RV Resort, a 266-site RV park located in the eastern Houston suburb of Baytown, Texas, was recently sold in a transaction brokered by Marcus & Millichap. The property, situated at 4419 N Hwy 146, Baytown, TX, 77521, was sold by a private investor to an unknown limited liability company. At the time of the sale, the RV park was approximately 90 percent occupied, showcasing its desirability and potential for the new owner.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: Not disclosed
- Broker: Robert Denninger (Marcus & Millichap)
- Seller: Private Investor
- Buyer: Unknown LLC
Robert Denninger of Marcus & Millichap played a key role in representing both the seller and the buyer during the sale of Cedar Grove Park RV Resort. The transaction, which involved a seller keen on confidentiality and an anonymous buyer operating under a limited liability company, highlights the discreet nature of the deal. The parties involved preferred to remain unnamed, maintaining a level of privacy throughout the negotiation and completion process.
Players
Baytown Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93