I’ve recently finished the RV Park University course. It sounds like it was produced about 10 years ago. At the time, the advice was to not look at any RV park under a 10% cap rate, and that a 10-15% cap rate was a reasonable expectation. Another book I read stated an expected 10-20% cap rate.
I’m wondering what has changed in the last 10 years, and if anybody has any information on historic trends. Have RV park rates compressed along with everything else? Do they tend to trend along with other real estate like multifamily and mobile home parks?
If you were looking at buying an RV park today, what initial cap rate would you expect to see?