How to Buy an RV Park: 2026 Acquisition Playbook

Key Takeaways

• RV parks typically trade at 8-12 percent cap rates; resort-quality at 6-8 percent, value-add parks at 10-14 percent
• Site mix matters: full hookup (water, sewer, electric) commands $50-$80 nightly; partial $30-$50; primitive $20-$35
• Seasonality is significant: snowbird destinations have winter peak, northern parks summer peak, year-round destinations more stable
• Critical due diligence: park infrastructure (water, sewer, electrical, roads), site mix and pad condition, KOA/Good Sam affiliation
• SBA 7(a) and 504 loans work for RV park acquisitions up to $5M-$15M combined; agency loans for larger deals
• Value-add opportunities: rate increases to market, amenity additions (Wi-Fi, pool, cabins), long-term resident conversion, store/laundry

Why RV parks are attractive investments

RV parks combine several characteristics that make them attractive small-to-middle-market investments in 2026.

Demand tailwinds:

• RV ownership at all-time high: 11+ million American households own RVs (RVIA data)
• Outdoor recreation boom: post-COVID acceleration sustained
• Remote work flexibility: working from RV/campsite has become viable for many professions
• Aging Baby Boomers: 73+ million Americans in 60-78 demographic with mobility and discretionary time
• Younger demographic adoption: Millennial and Gen X interest in outdoor recreation rising

Limited supply:

• Most U.S. metros have zoning restrictions on new RV parks
• Existing supply is essentially fixed
• Destination markets (Florida snowbird, southwest winter, mountain summer) have meaningful supply constraint
• Conversion of existing parks to higher-value use (residential development) reduces supply

Real estate + operating business hybrid:

• Real estate component appreciates over time
• Operating business generates cash flow
• Combined return: 12-25 percent annually achievable (cash flow + appreciation + principal paydown)

Valuation framework: RV parks value on cap rate similar to other commercial real estate. Cap rate = NOI / Sale Price. Quality RV parks in destination markets at 6-8 percent cap; standard parks 8-10 percent; value-add parks 10-14 percent.

Who buys RV parks:

• Owner-operator entrepreneurs (typical $1M-$10M deals)
• Family offices and high net worth investors
• Private equity-backed roll-up platforms (Sun Communities expanded into RV/RV resorts, Equity LifeStyle Properties, Northgate Resorts)
• 1031 exchange buyers (deferred capital gains from prior real estate)
• Outdoor recreation focused investment funds

The owner-operator RV park buyer profile typically: 5-15 years business experience, $300K-$2M available capital, willing to work on-site or hire on-site manager, comfortable with hospitality operations, multi-year hold horizon.

Differences from mobile home parks (MHPs):

• MHPs: residents own mobile homes, stay 5-15 years, recurring monthly rent
• RV parks: guests bring their own RVs (or rent on-site cabins), stay nights/weeks/seasons, hospitality operations
• MHPs: minimal customer service, real estate focus
• RV parks: meaningful customer service, hospitality + real estate

For MHP comparison and contrast, see how to buy a mobile home park.

Why RV park demand is structurally rising

Multiple demand drivers compound: (1) RV ownership at record high, (2) Working from RV/campsite normalized post-COVID, (3) Domestic travel preferred over international by many demographics, (4) Aging Boomers with mobility, (5) Younger generations embracing outdoor recreation. RV park revenue has grown 15-25 percent over 2019-2025 in most markets. Demand growth combined with limited supply creates favorable investment dynamics.

RV park vs campground terminology

Industry uses overlapping terms: RV park (mostly RV sites with hookups), campground (mix of RV sites and tent sites), RV resort (premium amenities, longer-stay focus), state/national park campgrounds (government-owned, different rules). For acquisition purposes, RV parks and RV resorts are most attractive (highest revenue per site). Mixed campgrounds are valued similarly. Tent-only campgrounds are less attractive (lower revenue, more seasonal).

RV park site mix and revenue economics

RV park revenue depends on site mix and seasonality. Understanding the economics is critical to valuation.

Site types and typical pricing:

Full hookup sites (water, sewer, electric, often Wi-Fi):

• Premium pricing: $50-$80 per night ($350-$560 weekly, $1,000-$1,800 monthly)
• Destination resorts: $70-$120+ per night
• Highest demand and revenue per site

Partial hookup (water, electric, no sewer):

• Mid-tier pricing: $30-$50 per night
• Many older parks have these sites
• Acceptable for shorter stays

Primitive sites (no hookups, tent areas):

• Budget pricing: $20-$35 per night
• Lower revenue per site
• Useful for park diversification

Cabin rentals (on-site cabins for non-RV guests):

• Premium pricing: $80-$200+ per night
• Higher revenue per unit but capital intensive
• Expands customer demographics

Long-term resident sites:

• Monthly rates: $400-$1,500/month
• Provides revenue stability and base load
• Different operational model (similar to MHP residents)

Typical RV park composition:

• Strong destination park: 70-90 percent full hookup, 10-30 percent partial, occasional primitive
• Standard travel park: 50-70 percent full hookup, 20-40 percent partial, 10-20 percent primitive
• Older legacy park: 30-50 percent full hookup, 40-60 percent partial, may have older infrastructure

Occupancy economics:

Occupancy varies dramatically by location and season:

• Florida snowbird destination: 95-100 percent winter (Oct-Mar), 30-50 percent summer
• Northern travel park: 80-95 percent summer (Jun-Sep), 20-40 percent winter or closed
• Year-round destination (Vegas, Phoenix, San Diego): 70-85 percent year-round
• Standard travel route park: 60-75 percent peak season, 30-50 percent off-season

Revenue mix beyond site rentals:

• Site rentals: 70-85 percent of revenue typical
• Cabin rentals: 5-15 percent
• Camp store and supplies: 3-8 percent
• Laundry: 2-5 percent
• Activities and amenities: 2-8 percent
• Long-term resident: 5-20 percent (varies)

Amenity investments and revenue impact:

• Wi-Fi (now essentially required): minimal revenue but customer expectation
• Pool: $10K-$60K investment, draws families, supports higher rates
• Laundry: $20K-$50K investment, $20K-$40K annual revenue
• Store: $30K-$80K investment, $30K-$80K annual revenue, modest margin
• Cabin rentals: $30K-$80K per cabin investment, $15K-$40K annual revenue per cabin
• Activities (pool table, playground, mini-golf): variable investment, drive longer stays
• Pet amenities (dog park, pet wash): $5K-$20K investment, customer attractor

For real estate-included business comparison, see how to buy a hotel.

Why full hookup percentage drives valuation

Full hookup sites command 2x the revenue of primitive sites. A 100-site park with 80 percent full hookup vs 40 percent full hookup has materially different revenue potential. Buyers should target parks with 60+ percent full hookup, or value-add parks where converting partial to full hookup is feasible. Conversion cost: $5K-$15K per site for adding sewer/water/electric upgrades.

Why long-term residents stabilize cash flow

Some RV parks have 10-30 percent of sites occupied by long-term residents (typically retirees in RVs living year-round at the park). Long-term residents pay monthly rates and provide stable base load. Trade-off: long-term residents occupy sites that could otherwise rent to higher-paying nightly travelers during peak season. Some buyers convert long-term sites to transient; others maintain mix for revenue stability.

RV park valuation: cap rate methodology

RV parks value on cap rate analysis similar to mobile home parks and other commercial real estate.

Cap Rate = NOI / Sale Price

Cap rate ranges by quality and location:

Destination resort (premium amenities, prime location): 5-7 percent cap Quality park in established market (good amenities, stable demand): 7-9 percent Standard park (decent location, basic amenities): 8-10 percent Value-add park (deferred maintenance, underperforming): 10-13 percent Seasonal travel route park: 9-12 percent (premium for seasonality risk)

Typical NOI by park size:

• 50-site park: $80K-$300K NOI
• 100-site park: $200K-$700K NOI
• 200-site park: $400K-$1.5M NOI
• 300+ site park: $700K-$3M+ NOI

RV park expense ratio:

• 30-45 percent of revenue typically
• 25-35 percent for well-run parks with strong operations
• 40-55 percent for value-add parks with high vacancy or operations issues

Working example – mid-size travel park:

• Site count: 100 sites (75 full hookup, 25 partial)
• Site mix revenue:
• 75 full hookup at $50/night × 60% occupancy × 365 nights = $821K
• 25 partial at $35/night × 50% occupancy × 200 nights = $87K
• Plus cabin rentals: $30K
• Plus store and laundry: $25K
• Plus other (Wi-Fi, activities): $10K
• Gross revenue: $973K
• Operating expenses (40 percent): $389K
• NOI: $584K
• At 9 percent cap rate: $584K / 0.09 = $6.5M

If same park has Wi-Fi, pool, and cabin upgrades + 75 percent full hookup × 70 percent occupancy: NOI jumps to roughly $800K, sale price at 7.5 percent cap rate = $10.7M. Capital improvements drive both NOI and cap rate compression.

For the broader valuation methodology, see business valuation methods 2026.

Why amenity upgrades drive multiple compression

Adding amenities (pool, cabin rentals, Wi-Fi upgrades, activities) does two things: (1) increases NOI through additional revenue and higher site rates, (2) attracts a different buyer pool (resort-style buyers vs basic park buyers). Resort-quality parks trade at lower cap rates (better multiples). A $3M value-add park becoming a $7M destination resort over 5-7 years is realistic with proper capital investment.

KOA and Good Sam affiliation premiums

KOA (Kampgrounds of America) franchise parks command roughly 10-15 percent revenue premium over equivalent independent parks because of brand recognition, central reservation system, and quality standards. Good Sam membership/rating system also provides marketing value. Franchise fees and ongoing royalties reduce some of the revenue premium but the net effect is typically positive.

Critical due diligence: infrastructure and seasonality

RV park due diligence covers commercial real estate standard items plus park-specific concerns.

1. Infrastructure assessment

Water system:

• Source: well, municipal, master-metered municipal
• Distribution capacity (peak summer holidays test capacity)
• Pipe age, material, condition
• Compliance with EPA and state environmental rules

Sewer system:

• Municipal sewer, on-site septic, or hybrid
• Capacity for peak occupancy
• Compliance with current standards
• Dump station capacity

Electrical:

• Service capacity per site (30 amp vs 50 amp critical for full hookup)
• Pedestal condition and compliance with current code
• Overall site electrical infrastructure

Roads and pads:

• Paved vs gravel
• Condition and drainage
• Site pad condition (level, dimensions appropriate for modern RVs)
• Common road repair: $1K-$3K per site

Amenities:

• Pool: code compliance, filtration condition, decking
• Bathhouse: code compliance, condition, capacity
• Laundry: equipment age and condition
• Activity facilities: condition, code compliance
• Wi-Fi infrastructure (essential modern requirement)

Infrastructure capital needs: Most RV parks have $50K-$500K+ in deferred capital improvements at acquisition. Budget 5-15 percent of purchase price for first 24-month capital expenditures.

2. Seasonality analysis

Trailing 24-36 months of monthly occupancy and revenue. Plot the seasonality curve.

Questions to answer:

• What percent of revenue comes from peak season?
• What is the operational fixed cost during off-season?
• Is cash flow sufficient to cover off-season expenses?
• What is the working capital reserve needed for low-season?
• Are there off-season revenue strategies (long-term residents, winter storage, off-season hunting/fishing)?

Northern travel parks typically have 70-85 percent of revenue in May-September. Cash flow planning must account for 7-9 months of low or no revenue.

3. Environmental due diligence – Phase 1 environmental assessment ($2K-$5K) – Phase 2 if Phase 1 reveals concerns – Floodplain assessment (critical for many RV parks) – Wetlands assessment – Septic system condition (if applicable) – Underground storage tanks (if any historical)

4. Local zoning and operational permits – Confirm current use is permitted under zoning – Verify operational permits are transferable – Check for moratoriums affecting future expansion – Health department permits for pool, food service, water systems

5. Reservations and customer base – Reservations system (campground software, point-of-sale) – Customer base data (repeat visitors, demographics, geographic origin) – Online reputation (Google, RVPark Reviews, Campendium, Good Sam ratings) – Marketing channels (KOA central, paid search, social media, RV club affiliations)

For the broader due diligence framework, see business acquisition due diligence process.

Why 50-amp electrical service matters

Modern RVs (especially larger Class A motorhomes and fifth wheels) require 50-amp electrical service to run air conditioning, appliances, and electronics simultaneously. Older RV parks with 30-amp service limit which RVs can stay. Upgrading from 30-amp to 50-amp service: $2K-$5K per site. Parks with full 50-amp capability attract premium customers and command higher rates.

Floodplain risk is real

Many RV parks are located near rivers, lakes, or low-lying areas attractive to outdoor recreation. These areas often have flood risk. Verify FEMA flood maps for the property. Flood insurance for RV parks is meaningful expense. Recent flooding history affects insurance availability and customer perception.

Financing RV park acquisitions

RV park financing combines SBA loans for smaller owner-operator deals with commercial real estate loans for larger acquisitions.

SBA 7(a) loans for RV parks:

• Deal size: up to $5M
• Owner-operator requirement
• Down payment: 20-30 percent typical
• Amortization: 10 years on goodwill/equipment, 25 years on real estate
• Interest rate: SOFR + 2.75-4.75 percent
• Active SBA lenders: Live Oak Bank (specialty practice), Pinnacle Bank, BHG Bank, Newtek

SBA 504 loans for real estate portion:

• Combined with SBA 7(a) or conventional for total $5M-$15M
• 10-15 percent down payment on real estate
• Below-market fixed rate for 25 years
• Significant savings vs conventional

Conventional commercial real estate loans:

• For larger deals ($5M+)
• Down payment 25-35 percent
• Amortization 20-25 years
• Recourse typically required for smaller deals; can be non-recourse for $10M+
• Active CRE lenders: regional banks, life insurance companies, debt funds

Agency loans (Fannie Mae, Freddie Mac):

• For larger stabilized parks ($5M+)
• Below-market rates (often 100-200 bps below conventional)
• Strict qualification: NOI, debt service coverage, occupancy
• Less common for RV parks than MHPs but available

Seller financing:

• 15-25 percent of purchase price typical
• 5-year amortization, 6-8 percent interest
• Full standby 24 months for SBA-financed deals
• Common in mid-sized deals; less common in institutional-quality parks

Bridge financing for value-add deals:

• For parks needing significant capital investment to stabilize
• 8-12 percent interest, often interest-only
• 1-3 year term, refinanced into permanent after stabilization

Typical capital stack for $4M RV park acquisition (owner-operator):

• SBA 7(a) for business + equipment: $1.5M
• SBA 504 for real estate: $1.5M
• Conventional for excess: $400K
• Seller note: $200K (5 percent on standby)
• Buyer cash: $400K (10 percent total down)

For SBA framework, see can an SBA loan be used to buy a business 2026.

Why Live Oak Bank dominates RV park SBA

Live Oak Bank built dedicated outdoor recreation and hospitality SBA practices. They understand RV park seasonality, infrastructure capital needs, amenity investments, and KOA franchise economics. Their underwriting is faster and more predictable than generalist SBA lenders. For owner-operator RV park acquisitions, Live Oak is typically the first call.

Why agency financing is uncommon

Fannie Mae and Freddie Mac primarily finance MHPs and apartment-style residential. RV parks fall in an awkward category: not residential apartments, not commercial retail, not standard hotel. Some agency programs include RV parks but with specific qualification requirements. Conventional CRE loans and SBA financing dominate the RV park space.

Value-add strategies and post-close operations

RV park value creation opportunities are similar in concept to MHPs but with hospitality-specific execution.

Value-add strategies:

1. Rate increases to market Many family-owned RV parks have nightly rates below market. Closing the gap to market over 2-3 years drives revenue growth.

2. Site mix upgrades Convert partial-hookup sites to full hookup ($5K-$15K per site). Increases per-site revenue 30-60 percent.

3. Wi-Fi infrastructure Modern Wi-Fi is essentially required. Strong Wi-Fi infrastructure ($30K-$100K investment) supports rate increases and customer satisfaction.

4. Amenity additions Pool, cabin rentals, expanded laundry, activities, pet amenities. Each adds revenue and supports rate increases.

5. Long-term resident conversion or expansion Depending on strategy, increase or decrease long-term residents to optimize cash flow.

6. Reservation system optimization Modern campground software (Campspot, CampLife, ResNexus) drives occupancy through better marketing integration.

7. Marketing improvements Website, online reputation management, paid search, KOA or Good Sam affiliation.

First 100 days post-acquisition:

Days 1-14:

• Property and operations title transfer
• Reservation system ownership transfer
• Staff one-on-one meetings (on-site manager, maintenance, housekeeping)
• Insurance policy updates
• Banking transitions
• Guest continuity (current reservations honored)

Days 15-30:

• Infrastructure assessment
• Site mix evaluation
• Amenity condition review
• Marketing review
• Long-term resident assessment

Days 31-60:

• Capital improvement planning
• Rate and pricing review (potential rate adjustments after 90 days)
• Reservation system optimization
• Marketing strategy refinement

Days 61-100:

• Quarterly performance review
• Strategic capital investment decisions
• Local community relationship building
• Marketing campaign launches

For the broader transition framework, see how to replace the seller after business acquisition.

Why amenity investment compounds

Adding amenities does more than generate amenity-specific revenue. Strong amenities support: higher site rates (premium for resort-quality), longer stays (drive amenity utilization), better online reviews (drive new customer acquisition), and customer loyalty (returning every year). The amenity investment compound through multiple revenue streams.

Seasonality cash flow planning

Northern parks with 7-9 month operating seasons require careful working capital planning. Generate sufficient peak-season cash flow to cover off-season fixed costs (insurance, property tax, utilities maintenance, key staff). Many seasonal park failures trace to inadequate off-season cash reserves.

Frequently Asked Questions

How much does it cost to buy an RV park?

Wide range. Small parks (30-50 sites, basic amenities): $500K-$2M. Mid-size parks (100 sites, full amenities): $2M-$6M. Larger destination parks (200+ sites with resort amenities): $5M-$25M. Most owner-operator buyers target $1M-$10M range. Real estate typically 70-85 percent of total value.

What is a typical cap rate for RV parks?

Varies by quality and location. Destination resorts: 5-7 percent cap. Quality established parks: 7-9 percent. Standard parks: 8-10 percent. Value-add parks: 10-13 percent. Seasonal travel route parks: 9-12 percent (premium for seasonality risk). Lower cap rate = higher price.

Can I use an SBA loan to buy an RV park?

Yes. SBA 7(a) for owner-operator deals up to $5M, often combined with SBA 504 for real estate portion. Live Oak Bank has specialty practice. Down payment typically 20-30 percent. Approval requires owner-operator commitment, clean compliance history, and stable revenue trend.

What is the difference between RV parks and mobile home parks?

Operations differ significantly: MHPs have residents who own mobile homes and stay 5-15 years (real estate focus, minimal customer service). RV parks have guests who bring their own RVs or rent cabins, stay nights to seasons (hospitality + real estate). MHPs are simpler operations; RV parks have more customer service complexity but also more revenue per site.

What is the most important due diligence item for RV parks?

Infrastructure assessment (water, sewer, electrical, roads, pads). Most RV parks have $50K-$500K+ in deferred capital improvements at acquisition. Independent infrastructure inspection by qualified engineer prevents surprise post-close capital costs. Pre-acquisition Phase 1 environmental assessment is also essential.

How seasonal are RV parks?

Highly variable. Snowbird destinations (Florida, Arizona, southern California): 95-100 percent occupancy winter, 30-50 percent summer. Northern travel parks: 80-95 percent summer, 20-40 percent winter (some close). Year-round destinations: 70-85 percent year-round. Seasonality drives cash flow planning – off-season expenses must be covered by peak-season cash flow.

What is the difference between full hookup, partial, and primitive sites?

Full hookup: water, sewer, electric (often Wi-Fi). Premium pricing $50-$80/night. Partial hookup: water and electric, no sewer. Mid-tier $30-$50/night. Primitive: no hookups, often for tent camping. Lower pricing $20-$35/night. Modern RVs require 50-amp electrical service for full functionality.

How long does it take to close an RV park acquisition?

Typical timeline: 90-150 days from LOI to close. Gates: SBA approval (60-90 days), environmental Phase 1 (30-45 days), infrastructure inspection (15-30 days), title and survey work (30-60 days, parallel). Seasonal parks: timing matters – many buyers prefer to close just before peak season to capture early revenue.

What is a KOA franchise and is it worth it?

KOA (Kampgrounds of America) is the largest RV park franchise system. KOA parks command roughly 10-15 percent revenue premium over equivalent independent parks because of brand recognition, central reservation system, and quality standards. Franchise fees and ongoing royalties (~3-8 percent of revenue) reduce some premium. Net effect typically positive for parks meeting KOA quality standards.

Should I buy an RV park as my first business?

Depends on your background and capital. Good fit: prior real estate or hospitality experience, comfortable with seasonality and customer service, $500K-$2M available capital, willing to work on-site or hire on-site manager. Challenging for first-time buyers because RV parks combine real estate, operations, and hospitality. Most successful RV park operators have prior business or real estate experience.