RV Park Cap Rates in Michigan
Real capitalization rate data from 14 parks across Michigan. Understand what the market is actually returning before you write a check.
What This Means for Investors
Michigan is a competitive market. At 7.3% average, pricing reflects real buyer demand — this isn't a market where sellers are desperate. That said, the right deal with operational upside can still pencil well if you underwrite NOI improvements rather than buying trailing income.
In markets like this, the edge is in sourcing — not on-market listings, but owners who haven't marketed. The 14 parks in our database with owner contact data give you the starting list. Work it direct.
With data spread across 14 cities, Michigan offers enough geographic diversity to be selective. The city breakdown below shows where the cap rate compression is worst and where pockets of yield still exist.
At an average estimated value of $6,548,139, most Michigan parks are in reach for individual investors or small syndicates — this isn't a market dominated exclusively by institutional buyers.
Cap Rates by City — Michigan
| City | Avg Cap Rate | Parks | Avg Valuation |
|---|---|---|---|
| Union City | 11.7% | 1 | $516,810 |
| Moscow | 11.1% | 1 | $2,925,956 |
| Grayling | 9.3% | 1 | $117,331 |
| Otter Lake | 8.6% | 1 | $6,192,000 |
| Breckenridge | 8.2% | 1 | $7,140,007 |
| Sault Ste Marie | 8.0% | 1 | $1,218,160 |
| Manistique Township | 7.8% | 1 | $190,338 |
| Tawas City | 6.5% | 1 | $250,778 |
| Mount Pleasant | 5.6% | 1 | $8,091,386 |
| Petoskey | 5.6% | 1 | $3,215,120 |
| Lexington | 5.1% | 1 | $11,763,471 |
| Standish | 5.1% | 1 | $21,062,212 |
| Traverse City | 5.1% | 1 | $12,323,636 |
| Dowagiac | 4.6% | 1 | $16,666,750 |
Top 10 Highest Cap Rate Parks
Highest estimated returns — investigate occupancy, management quality, and NOI sustainability before buying on cap rate alone.
| Park Name | City | Cap Rate | Sites | Est. Value |
|---|---|---|---|---|
| Potawatomie Recreation Area | Union City | 11.7% | 30 | $516,810 |
| Moscow Maples RV Park | Moscow | 11.1% | 176 | $2,925,956 |
| RV Park | Grayling | 9.3% | 5 | $117,330 |
| Genesee-Otter Lake Campgrounds | Otter Lake | 8.6% | 129 | $6,191,999 |
| River Ridge Family Campground | Breckenridge | 8.2% | 160 | $7,140,006 |
| Kewadin RV Park | Sault Ste Marie | 8.0% | 64 | $1,218,160 |
| Kewadin Manistique RV Park | Manistique Township | 7.8% | 10 | $190,337 |
| Northern Bear Paw RV Park LLC | Tawas City | 6.47% | 5 | $250,777 |
| Hearthside Grove Motorcoach Resort | Petoskey | 5.57% | 60 | $3,215,119 |
| Mount Pleasant Resort | Mount Pleasant | 5.57% | 151 | $8,091,385 |
10 Lowest Cap Rate Parks
Lower cap rates reflect higher prices relative to income — often found in premium markets, coastal areas, or parks with strong amenities and stable occupancy.
| Park Name | City | Cap Rate | Sites | Est. Value |
|---|---|---|---|---|
| Wonder Woods RV Park and Cabins | Dowagiac | 4.57% | 250 | $16,666,749 |
| Lexington RV Resort | Lexington | 5.07% | 210 | $11,763,470 |
| Timber Ridge RV & Recreation Resort | Traverse City | 5.07% | 220 | $12,323,635 |
| Saginaw Bay Resort | Standish | 5.07% | 376 | $21,062,211 |
| Hearthside Grove Motorcoach Resort | Petoskey | 5.57% | 60 | $3,215,119 |
| Mount Pleasant Resort | Mount Pleasant | 5.57% | 151 | $8,091,385 |
| Northern Bear Paw RV Park LLC | Tawas City | 6.47% | 5 | $250,777 |
| Kewadin Manistique RV Park | Manistique Township | 7.8% | 10 | $190,337 |
| Kewadin RV Park | Sault Ste Marie | 8.0% | 64 | $1,218,160 |
| River Ridge Family Campground | Breckenridge | 8.2% | 160 | $7,140,006 |
Get Full Owner Contact Data for Michigan
Cap rates tell you where to look. Owner contact data gets you in the door. Access phone numbers, emails, and deal pipeline tools for every park in Michigan.
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