Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Fowler's RV Park, 65 RV site, 10 Apartment & 4 commercial units situated on five acres in Fort Worth, Texas, according to Ford Noe, Regional Manager of the firm’s Houston office. The asset had a listing price of $1,895,000 and sold at 95.5% of the asking price.

Fowler's RV Park is located at 12465 Business 287 in Fort Worth, Texas and was 95%-100% occupied with annual residents. The site rents were $400 and included all utilities. The community is well and septic served with no park owned homes. The community sold with new financing from a local bank with a LTV of approximately 70%. Fowler’s RV closed at a 10% Cap Rate at $22,900 per unit.

Jeff Taylor, Associate, in Marcus & Millichap’s Houston Office, Douglas A. Danny, Senior Vice President Investments, and Braeden C. Jehle, Associate, in Marcus & Millichap’s San Diego Office, had the exclusive listing to market the property on behalf of the seller, a private investor. Please contact Jeff Taylor if you would like additional information.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.