RV Park Cap Rates in Minnesota
Real capitalization rate data from 20 parks across Minnesota. Understand what the market is actually returning before you write a check.
What This Means for Investors
Minnesota is running hot. An average cap rate of 19.5% is well above the national norm, which signals either underpriced assets, rural markets with strong cash flow, or operators who haven't professionalized revenue. For buyers, that spread is opportunity — find the bottom-quartile operators and you're buying cash flow, not just real estate.
The wide range (6.1%–25.0%) tells the other side of the story: there are parks in this state priced like trophy assets and parks priced like distressed debt. Know which bucket you're bidding on. The highest cap rates typically reflect either management upside or location risk — underwrite both.
With data spread across 17 cities, Minnesota 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 $2,119,049, most Minnesota parks are in reach for individual investors or small syndicates — this isn't a market dominated exclusively by institutional buyers.
Cap Rates by City — Minnesota
| City | Avg Cap Rate | Parks | Avg Valuation |
|---|---|---|---|
| Spicer | 20.4% | 2 | $1,964,087 |
| Hinckley | 17.4% | 2 | $6,964,470 |
| St. Cloud | 11.3% | 2 | $2,419,977 |
| Howard Lake | 25.0% | 1 | $2,506,574 |
| Clearwater | 24.7% | 1 | $2,419,977 |
| Minneapolis | 24.7% | 1 | $1,921,746 |
| Owatonna | 24.7% | 1 | $1,898,021 |
| Randolph Township | 24.7% | 1 | $1,352,340 |
| Waterville | 23.9% | 1 | $819,528 |
| Clarkfield | 22.9% | 1 | $259,986 |
| French Lake Township | 22.9% | 1 | $64,997 |
| Maple Plain | 17.3% | 1 | $5,074,486 |
| Aitkin | 16.5% | 1 | $1,328,615 |
| Pine Island | 16.5% | 1 | $237,252 |
| Savage | 16.5% | 1 | $1,186,264 |
| Ogilvie | 16.3% | 1 | $397,493 |
| Peterson | 15.3% | 1 | $216,655 |
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 |
|---|---|---|---|---|
| Codgers Cove | Howard Lake | 25.0% | 104 | $2,506,574 |
| Hope Oak Knoll Campground | Owatonna | 24.7% | 80 | $1,898,021 |
| Lake Byllesby | Randolph Township | 24.7% | 57 | $1,352,340 |
| Westrich RV Park | Spicer | 24.7% | 84 | $1,992,922 |
| St. Cloud Clearwater RV Park | Clearwater | 24.7% | 102 | $2,419,977 |
| Lowry Grove RV Park | Minneapolis | 24.7% | 81 | $1,921,746 |
| Cannon Gate Park | Waterville | 23.9% | 36 | $819,528 |
| Stanley Eddy Regional Park Reserve South | French Lake Township | 22.9% | 3 | $64,996 |
| Lion's RV Park | Clarkfield | 22.9% | 12 | $259,986 |
| Grand Casino Hinckley RV Resort | Hinckley | 18.0% | 271 | $7,261,103 |
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 |
|---|---|---|---|---|
| St. Cloud Campground & RV Park | St. Cloud | 6.1% | 102 | $2,419,977 |
| Peterson RV Campground | Peterson | 15.3% | 10 | $216,655 |
| WestRich RV Park & Campground | Spicer | 16.1% | 84 | $1,935,250 |
| Woodsong RV Resort | Ogilvie | 16.3% | 17 | $397,493 |
| Hickory Lake Campground | Aitkin | 16.5% | 56 | $1,328,615 |
| Town & Country RV Park and Campground | Savage | 16.5% | 50 | $1,186,263 |
| St. Cloud Campground and RV Park | St. Cloud | 16.5% | 102 | $2,419,977 |
| Hidden Meadows RV Park Inc | Pine Island | 16.5% | 10 | $237,251 |
| Grand Casino RV Park | Hinckley | 16.9% | 271 | $6,667,835 |
| Baker Campground | Maple Plain | 17.3% | 200 | $5,074,485 |
Get Full Owner Contact Data for Minnesota
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 Minnesota.
Get Access →