47649 Buxton Back Rd - Cape Woods Campground & Resort 200 Unit Apartment Building Offered at $20,531,850 CAD at a 6.50% Cap Rate Buxton, NC 27920

The Esterson MHC Team 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 $1,295,769 in gross revenue for the 2026 calendar year, with $974,409 in NOI, producing a 6.5% 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. The majority of residents are renewing tenants who have been staying at the park for many years in a row.
2026 rental income is supported by average RV lot rents of $486/month ($5,832/annual), with most RV renters paying the full annual rent in January. 24 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 are $494/month, the apartments units generate $916/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. Nearby parks are charging more than of $1000 a month for similar RV lots during the high season furthering a strong case to be made for charging monthly rents as opposed to the annual rents that current ownership is using. Proforma models support revenue growth to $1.618M and NOI of $1.205M, yielding a stabilized exit value of $20.0M at a 6.0% cap rate.
The park includes well maintained roads, a swimming pool and turn-key management. The park is in a flood zone but sits on the highest elevation in Buxton, significantly mitigating the risk of any flooding. It has no park-owned homes, RTOs, or other operational complexities. Trash service is included in taxes, and cable is directly billed. This simplicity and durability of income make it an ideal passive investment for yield-seeking RV park or MH community investors.
The Outer Banks region of North Carolina remains a top-tier tourism destination attracting tens of thousands of RVers, seasonal workers, and long-term coastal tenants. Cape Woods is uniquely positioned to serve that demand with strong infrastructure, flexible unit types, and professional operations. Investors can capitalize on continued price appreciation and revenue growth through seasonal rent premiums, dynamic pricing, and light infill of underutilized structures.
We are asking investors to submit offers at or above $15,000,000, representing a unique opportunity to acquire a fully stabilized coastal RV resort with exceptional upside and efficient operations. All offers must include pricing, inspection period, funding source, and appropriate due diligence timelines.