How RV Park & Campground Valuation Works
Same income approach as every commercial property — NOI ÷ cap rate — with one rule that matters more here than anywhere: use full-year trailing-12 income, never a peak-season run rate. A park that grosses $80,000 in July doesn't gross $960,000 a year; seasonality is the whole game. Broker pro formas annualizing the summer are the most common way buyers overpay for campgrounds, and now it's the mistake you'll spot from across the room.
Income mix matters too. Monthly and seasonal tenants produce cheaper, steadier revenue; nightly transient guests gross more per site but cost more to service (turnover, utilities, staffing, reservations). Two parks with identical revenue can deserve different cap rates because of that mix — note it when you pick yours.
Choosing the Cap Rate
RV parks trade wider than apartments or storage because the income is part real estate, part hospitality business. Indicative ranges as of early 2026 (verify locally):
- Well-located park, strong T12, long season, full hookups: 7-8.5%
- Smaller, seasonal, or tertiary-market park: 8.5-10%+
- Destination resort with amenities and events: can trade tighter — priced on the business as much as the land
The Price-per-Site Cross-Check
Divide value by total sites and compare to recent sales: basic rural campgrounds have commonly traded around $15,000-$35,000 per site, while destination parks with long seasons and amenities can exceed $50,000-$100,000+. A big gap between your income value and local per-site comps means an input needs another look — usually the expense ratio or an annualized peak season.
From Value to Offer
Market value is the starting line, not the finish. Your price depends on financing, deferred maintenance (utility pedestals, septic, roads), expansion room, and how much of the revenue depends on the current owner's hustle. Model the full deal — seasonality, site mix, ancillary income — in the RV Park & Campground Calculator, and if you're comparing against cabins or safari tents, the Glamping Calculator covers the hospitality-heavy version of this math.
Financing the deal? Get a free introduction to lenders who close RV park loans.