Multifamily Property for Sale in Buxton, NC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Buxton, NC 27920
  • Year built: 1980

Description

Marcus & Millichap is pleased to present Cape Woods Campground & Resort, a 200-unit RV resort located in Buxton, North Carolina, on North Carolina’s scenic Outer Banks. Situated on 15.29 acres across two contiguous parcels in Dare County, the property is positioned within the Kill Devil Hills MSA, offering an exceptional cash-flow opportunity with stabilized operations, favorable infrastructure, and strong tourism demand. This income-producing RV campground features 195 RV lots that include 6 tenant owned cabins, 1 A-Frame apartment unit, 2 apartments, 1 single-family home, and 1 shop, with all 200 units currently occupied and performing. Over 90% of the income is collected annually in advance, typically from Nov-Jan. The property has generated $1,281,213 in gross revenue for the 2026 calendar year, with $955,037 in NOI, producing a 6.4% in-place cap rate. Renters typically leave their RVs onsite year-round and use it as a vacation home during the summer months. The property has maintained 100% occupancy over the last 6 years and has a waiting list that exceeds 300 people. 2026 rental income is supported by average RV lot rents of $480/month ($5,764/annual), with most RV renters paying the full annual rent in January, 17 RV tenants have renewed for the 2026 season at $7500/annual providing a clear path to higher rates for remaining RV lots moving forward. Cabin lot rents at $494/month, the apartments units generate $1,000/month, and the single family home earns about $2,000/month. The house was previously used as an owners home and is in good condition. Sub-metered electric is billed back to tenants. With 100% occupancy and increasing demand for seasonal and affordable coastal stays, the park offers multiple levers for revenue growth. Pro forma models support revenue growth to $1.625M and NOI of $1.204M, yielding a stabilized exit value of $20.07M at a 6.0% cap rate. The park includes well maintained roads, a swimming pool and turn-key management. The park is in a

Market Context

This multifamily in Buxton, NC is listed for sale. It is offered at an approximate 6.5% capitalization rate, a key benchmark for income-producing multifamily assets. The building dates to 1980. It has been on the market for 67 days. Compare it against other multifamily listings for sale in Buxton, NC — <a href="/search/sale/multifamily/north-carolina/buxton">view the full market</a>.

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