GREEN ACRES RV PARK234 Tamanda Lane

Oyster Creek, Brazoria County, TX 77541

Asking Price $2,700,000Terms All-CashCap Rate 8.8%Total Sites 52Year Built 2014Property Type RVResident Profile All-AgesRoads/Pads Gravel/LimestoneRent (In-Place/Market) $500/$525Average Occupancy 95%Parcel Size 6.1 AcresAmenities Laundry FacilityUtilities

Water City of Oyster CreekSewer City of Oyster CreekTrash Waste ManagementElectricity Various

Green Acres RV Park is a 52-site community locatedapproximately 50 miles south of Houston in Oyster Creek,Texas. The investment is located within the Brazosportregion, an area that is impacted by significant growthrelated to the petrochemical industry. Major areaemployers in the region include Dow Chemical, FluorCorporation, Zachry Industrial, Freeport LNG, Phillips 66,MEGlobal, Olin Corporation, Jacobs Engineering and BASF.

The park’s occupancy averages 95% (in-place is 98%) dueto the influx of population growth and employment in thearea. Demand has been significant as a result of housingshortages and ongoing development throughout theregion. The in-place rent average of $500/month isapproximately 5% below market, posing for upside to theinvestor.

Rents are net of electricity; all sites have 30- and 50-amp fullhook-ups and are individually sub metered with publicutilities. All sites accommodate back-in units.

Property

Investment Summary

The Offering

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Property

Community  Property Address City, State Type Occupancy Sites Monthly Weekly Daily

Property Green Acres RV Park 234 Tamanda Lane Freeport RV 98% 52 $500 $175 $35

1 Gulf Coast 5‐Star RV Park 2501 FM 523   Oyster Creek RV 100% 130 $580 $330 $75

2 Windswept RV Park 105 Burch Circle Oyster Creek RV 96% 48 $475 $200 $45

3 Kountry Ranch RV 2433 Duncan Dr. Freeport RV 89% 35 $475 $200 $45

4 Surfside Beach RV Park 102 Fort Velasco Dr. Surfside Beach RV 98% 45 $500 $225 $50

5 Austin Landing RV Park 318 Thunder Rd. Freeport RV 98% 42 $450 $210‐$225 $45

6 Freeport RV Park 2002 Jones Rd. Freeport RV 99% 75 $450 Not Offered Not Offered

7 Oyster Creek RV Ranch 2815 FM 523 Freeport RV 100% 65 $450‐$500 $225 $40

RENT COMPARABLES  

RVs

Rent Comparables Map

• In-place rents are approximately 5% belowmarket

• No rent increases in the past 2 years• Stabilized Occupancy ranges from 90% to

100%, averaging 95%• In-place rent of $500 is net of electricity;

$200 deposit required for monthly residents• Rent includes water, sewer, trash and wi-fi• Sites are individually sub metered for

electricity• Limited Weekly or Daily stays; both rates

include all utilities• Four coin-operated washer and dryer units

are owned and operated by the park

Survey Income and OccupancyHighlights

The information contained in this document has been obtained from sources believed reliable. Broker and Broker’s Agent(s), have not verified the information andmakes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions,assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to youdepends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independentinvestigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners anduse of these images without the express written consent of the owner is prohibited. Broker of record: REB365, 14900 Avery Ranch Blvd., Ste C200-68, Austin, TX 78717, Allrights reserved.

INCOME:GPR: GPR: 2017 total decreased due do temporary slowdown; Pro Forma based on 50 sites @ $550 * 12 mos.Vacancy: Pro Forma based on 3.0% per marketLaundry Income: Pro Forma based on 4 sets of laundry machines; pro forma based on 2018 totalElectricity Reimbursement: 2016 & 2017 were included in GPR; Pro Forma based on 2018 total

EXPENSES:Real Estate Taxes: Based on 2018 actual per county taxesProperty Insurance: 2016 Insurance of $5,123 is high by $2K; Pro Forma based on new liability policyTrash: Pro Forma based on 2018 totalElectricity: Electricity expense covers CAM only; Historical totals were higher due to lower contracted rates; Pro Forma Based on 2018 totalWater: Pro Forma based on 2017 & 2018 totals; water is included in rentGas: Pro Forma based on historical averageRepairs & Maintenance: R&M are primarily attributed to the park's roads; 2017 spike is an outlier and includes CAPEX; Pro Forma based on 2018 totalLandscaping: Pro Forma based on 2016 & 2017 averagePayroll & Benefits: No payroll expenses in 2016 or 2017 as the owner was self-managing; Pro Forma based on in-place payroll expenses for one FT onsite mgr.Management Fees: Pro Forma based on market averageGeneral & Administrative: Includes permits, licenses, bank fees and ancillary administrative items; Pro Forma based on 2018 totalAdvertising & Marketing: Pro Forma based on historical averageProfessional Fees: Pro Forma based on 2017 & 2018 totals

Financial Summary

Total Per Site Total Per Site Total Per Site Total Per Site

INCOME

Gross Potential Rent $358,129 $6,887 $295,599 $5,685 $319,224 $6,139 $343,200 $6,600

Less Vacancy & Cr. Loss ‐                ‐          ‐                ‐               ‐             ‐          (10,296)      (198)       

Net Rental Income $358,129 $6,887 $295,599 $5,685 $319,224 $6,139 $332,904 $6,402

Laundry Income  10,125         195         5,330           103              7,765         149         8,000          154         

Electricity Reimbursement Incl. in GPR Incl. Incl. in GPR Incl. 40,534      780         41,000       788         

Effective Gross Income $368,254 $7,082 $300,929 $5,787 $367,524 $7,068 $381,904 $7,344

EXPENSES

Real Estate Taxes $15,324 $295 ‐                ‐               ‐             ‐          21,000       404         

Property Insurance 5,123           99           2,297           44                 227            4              1,800          35           

Trash 3,274           63           3,145           60                 4,034         78           4,000          77           

Electricity 35,340         680         33,731         649              42,851      824         42,000       808         

Water 3,714           71           4,031           78                 4,017         77           4,000          77           

Gas ‐                ‐          290               6                   689            13           500              10           

Repairs & Maintenance 10,177         196         27,287         525              6,248         120         6,200          119         

Landscaping 9,005           173         6,969           134              420            8              4,000          77           

Payroll & Benefits 852               16           ‐                ‐               ‐             ‐          30,000       577         

Management Fee ‐                ‐          ‐                ‐               4,000         77           11,457       220         

0.0% 0.0% 1.1% 3.0%

General & Administrative 9,134           176         17,273         332              11,008      212         11,000       212         

Advertising & Marketing 5,157           99           4,945           95                 5,026         97           5,000          96           

Professional Fees 4,021           77           3,449           66                 3,516         68           3,500          67           

Total Expenses $101,120 $1,945 $103,416 $1,989 $82,035 $1,578 $144,457 $2,778

     Expense Ratio 27.5% 34.4% 22.3% 37.8%

NET OPERATING INCOME $267,134 $5,137 $197,514 $3,798 $285,488 $5,490 $237,447 $4,566

Expense Adjustments:

Real Estate Taxes ‐                ‐          $21,818 $420 $21,244 $409 ‐               ‐          

Property Insurance ‐                ‐          ‐                ‐               1,800         35           ‐               ‐          

Payroll & Benefits 30,000         577         30,000         577              30,000      577         ‐               ‐          

Management Fee 11,048         212         9,028           174              11,026      212         ‐               ‐          

Adjusted NOI $226,086 $4,348 $136,668 $2,628 $221,419 $4,258 $237,447 $4,566

2016 2017 2018 Pro Forma

Upcoming Projects in Brazoria County

1: DOW CHEMICAL / MEGLOBAL - OYSTER CREEKIrving, Texas-based Fluor Corp. has been awarded a $1Billion contract for mechanical construction of a facility inFreeport. MEGlobal is building the monoethylene glycolmanufacturing facility at Dow’s Oyster Creek site. Thenew MEGlobal plant will create 1,400 construction jobs atthe project’s peak, and the Company will employapproximately 50 new workers when it goes on stream inmid-2019.

2: INEOS CHOCOLATE BAYOU - ALVININEOS Oligomer’s new Linear Alpha Olefin plant willprovide raw materials to the area’s petroleum andchemical industry. The more than $550 million facility willuse ethylene to produce linear alpha olefins — alsocalled LAOs, for use in plastics. Construction is set tobegin in January and will be complete by the end of2018. This project will add 70 full-time positions and10 in-house contractors to the 500 people alreadyworking at the Chocolate Bayou site.

3: FREEMONT LNG EXPORT FACILITY - QUINTANA/OYSTER CREEKHouston-based Freeport LNG Expansion LP plans tospend about $14 billion to construct a liquefied naturalgas export facility in Freeport that would employ 3,800construction workers and create 163 permanent jobs.The company expects to start construction of Train 4 bythe end of 2018, with operations commencing in 2022.The initial three liquefaction trains of the Freeportliquefaction project are currently under construction, andare scheduled to commence operations sequentiallybetween fourth quarter in 2018 and third quarter in 2019.

4: PRAXAIR - FREEPORTPraxair’s new world-scale air separation unit (ASU),expected to start up in 2019, will provide oxygen toMEGlobal’s plant for use in its EG manufacturing processand into Praxair’s extensive industrial gas pipelinesystem.This $104 million investment is expected to provide15 permanent jobs as well as create 70 construction jobs.

5: PHILLIPS 66 - OLD OCEANPhillips 66 plans to invest $1.2 billion, including $1.0 billionof growth capital, in its Natural Gas Liquids (NGL) andTransportation businesses. The company is developinggrowth projects integrated with its existing assets andinfrastructure, such as ongoing expansion of theBeaumont Terminal, additional Gulf Coast fractionationcapacity, and investment in pipelines and otherterminals. This investment will create 1,300 constructionjobs and 12 permanent jobs.

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Regional Overview

Freeport LNG/Quintana, Oyster Creek 2017‐2021 $3 Billion 1,000        60 282

INEOS/ Alvin‐Chocolate Bayou 20218‐2019 $145 Billion 200            15 37

Shintech/ Freeport 2018‐2019 $17 Million 25              10 17

Total 1,225        85 336

Total Direct & 

Indirect Jobs

Projected 

Start/End DatesEmployer

Est. Capital 

Investment

Est. # of 

Workers

Direct 

Jobs

Please do not contact park or disturbresidents. Appointments required forproperty tours.

Employer Location # of Employees

Dow Chemical Freeport 3,900

Olin Corportation Freeport 1,200

Phillips 66 Sweeny 1,035

BASF Corporation Freeport 922

Freeport LNG Various 849

Schlumberger Technology Rosharon 849

Chevron Phillips Sweeny 615

INEO Olefins & Polymers USA Alvin 575

Fluor Corporation Freeport 450

Source: Brazoria County Economic Development

Major Employers

Thao Nguyen(214) 732-1992thaodfw@gmail.com