Smith River RV Park
RV ParkBassett, Henry County, Virginia
Listing Details
- Asking Price
- $4.1M
- Sites
- 122
- Acreage
- 74.41 acres
- City
- Bassett
- County
- Henry County
- State
- Virginia
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About Smith River RV Park
Marketing Description
Smith River RV Park is a 122-site full-hookup RV park with 5 tent sites on ±74.41 acres in Henry County, Virginia, with approximately 3,200 feet of frontage on the Smith River. The park has effectively leased up: per the seller-certified rent roll dated 8/7/26, 113 of 122 RV sites (~93%) are occupied, with 109 reservations on pre-paid monthly contracts, most running through winter 2026–27.
Implied in-place monthly rent is roughly $70,900/month — about $600–$680 for sub-metered back-in sites and $720–$775 for river-side pull-throughs.
The lease-up is now showing up in the financials. Trailing-12-month NOI has climbed to ~$300,000 (Sept 2025–Sept 2026), up from ~$218,000 just three months earlier — a ~7.3% in-place cap at the asking price, and still rising as the monthly-tenant base builds. This is real, in-place cash flow, not a projection.
Infrastructure & operations. Major infrastructure was rebuilt in 2020 — county water and sewer to every site and underground electric throughout, with most sites now sub-metered. Improvements include a 5,000 SF general store (liquor license) and an updated 1,200 SF bathhouse with coin- and app-pay laundry. On-site management and maintenance staff are in place, and reservations and billing run through CampSpot.
Expansion. The parcel includes excess land currently used for warehouse and storage, with room for an estimated 60+ additional RV sites — county utilities already on site, no additional land acquisition required.
Location. The Smith River is a regional draw for trophy trout fishing, kayaking, and tubing, pulling visitors from Virginia, North Carolina, and beyond. The park is 8 miles from Martinsville on Route 220, and nearby Philpott Lake & Dam add year-round recreation demand.
Seller Financing
The seller will carry $3,095,000 in first position at 5.25% fixed, with 24 months of interest-only payments; thereafter payments amortize over 30 years, with a balloon at year 5. Buyer equity at closing is $1,000,000 plus closing costs. The below-market rate and interest-only period improve day-one cash-on-cash returns and give a buyer room to work the rent and expansion upside before amortization begins.
Buyer Qualification
CRI works directly with principals and their licensed brokers. To protect our sellers, property financials and the full due-diligence package are released only after registration and an executed Confidentiality Agreement. All offers must be submitted as a Letter of Intent accompanied by proof of funds and/or a lender pre-qualification letter.
We do not release seller information to wholesalers, assignors, scouts, "bird dogs," or other unlicensed intermediaries, and offers contingent on assignment to an unidentified buyer will not be reviewed.
Figures per seller-certified rent roll (8/7/26) and seller P&L (trailing-12 through 9/22/26). Buyer to verify all information in due diligence.
Frequently Asked Questions
How much does Smith River RV Park cost?
Smith River RV Park is listed at $4.1M. Request full financials through Parkvestor for a direct introduction to the listing broker.
How many sites does Smith River RV Park have?
Smith River RV Park has approximately 122 sites across 74.41 acres in Bassett, Virginia.
What type of property is Smith River RV Park?
Smith River RV Park is a RV park located in Bassett, Virginia, currently listed for sale.
Where is Smith River RV Park located?
Smith River RV Park is located in Bassett, Virginia. Browse more parks for sale in Virginia on Parkvestor.
How do I get more information about Smith River RV Park?
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