What Is My Georgia RV Park Worth?

Quick Definition

This article is written for Georgia RV park owners asking the most important question: what is this thing actually worth? The answer is almost always a function of one number: Net Operating Income (NOI). NOI drives price. Not pad count. Not how nice your bathhouse is. Not what you paid for the land in 1998. NOI. And the multiplier applied to that NOI depends on your location and market risk profile.

If you own an RV park in Georgia, you need to understand this: a buyer doesn't care about your original investment, your emotional attachment to the property, or how many happy guests came through the gates last summer. They care about one thing: how much cash does this park reliably generate after I pay for everything to keep it running? That cash flow—stripped of debt service—is your NOI. It's the metric that drives every professional valuation in this industry.

Georgia's RV park market is strong. You have seasonal parks in the mountains that pack with fall color tourists. You have year-round operations near Atlanta that catch corporate transient traffic and weekend campers from the metro area. You have coastal parks pulling snowbirds down to Savannah and the Golden Isles. Different regions, different seasons, different buyer profiles—but they all start with the same question: what's the NOI?

In this guide, I'll walk you through exactly how to calculate your NOI, show you the cap rates that vary across Georgia's four distinct RV park regions, and give you a straightforward path to understanding what your park is worth. You'll see worked examples for properties at different scales and in different markets. And I'll tell you exactly how to get a professional valuation if you decide to explore selling.

Start with your financials. If you have them organized by month for the last 12, you're ready. If they're scattered across bank statements and receipts, take a week to pull them together. The accuracy of your valuation depends directly on the accuracy of your numbers.

Georgia RV Parks

TL;DR

• NOI is king. Net Operating Income = gross revenue minus operating expenses (utilities, payroll, insurance, repairs, marketing, property tax, supplies, software fees). Do not subtract debt service or depreciation. NOI is the number that buyers use to value your park.
• Georgia cap rates vary by region. North Georgia Mountains: 8–10%. Atlanta Metro: 7–9%. Coastal Georgia: 7–10%. Central Georgia: 9–12%. Cap rate is the relationship between your NOI and estimated value: Value = NOI ÷ Cap Rate.
• Worked example. A park with $120K NOI in North Georgia, full hookups, with a manager: $120K ÷ 8.5% = $1.41M estimated value.
• Top value drivers. Full hookups (W/E/S), year-round occupancy, manager independence, clean financials, expansion potential, I-95 or I-75 corridor access.
• Top value detractors. Owner-operated with no manager, partial hookups only, poor financial records, deferred maintenance, environmental issues, month-to-month leases at below-market rates.
• Three paths to professional valuation. MAI appraisal ($3,000–8,000, 4–6 weeks). Broker Price Opinion (free, but they want the listing). Direct buyer conversation (free, no obligation, no listing required).
• What rv-parks.org does differently. We buy parks directly. We don't take listings or charge fees. We'll give you a free valuation conversation based on your actual financials, no pressure to sell.
• Coastal Georgia parks are hot. Coastal Georgia RV Parks near I-95 and the beaches attract both snowbirds and corporate transient traffic, pushing cap rates lower (more buyer demand = higher prices).

Step 1: Calculate Your NOI

Net Operating Income is the cash your park generates after paying all operating expenses but before debt service (loans), depreciation, or your personal owner draw above what a market-rate manager would earn.

Here's the exact formula:

Gross Revenue

• Nightly site fees
• Weekly site fees
• Monthly site fees
• Dump station fees
• Laundry revenue
• Propane sales
• Storage rental
• Event fees or facility rental
• Any other ancillary revenue

Minus Operating Expenses

• Utilities (electric, water, sewer, propane)
• Property taxes
• Insurance (liability, property)
• Payroll (full-time manager, maintenance staff, seasonal labor)
• Repairs and maintenance
• Supplies (cleaning, office, grounds)
• Marketing and advertising
• Accounting and legal fees
• Reservation software and credit card processing
• HOA or cooperative fees (if applicable)

Equals NOI

What you do NOT subtract:

• Mortgage or loan payments (debt service is handled by the buyer separately)
• Depreciation (accounting concept, not cash)
• Your owner draw if it exceeds market rate for a hired manager
• One-time capital expenses (roof replacement, road rebuild)

Worked Example

A 35-site park in the Atlanta metro with mixed nightly and monthly tenants:

Gross Revenue: $340,000

• Nightly sites (20 sites × avg $45/night × 250 nights): $225,000
• Monthly sites (15 sites × $800/month × 12): $144,000
• Dump station, laundry, miscellaneous: $-29,000

Operating Expenses: $195,000

• Utilities: $48,000
• Property taxes: $22,000
• Insurance: $18,000
• Manager salary (market rate): $55,000
• Maintenance staff and part-time labor: $25,000
• Repairs and supplies: $15,000
• Marketing and software: $8,000
• Accounting and legal: $4,000

NOI = $340,000 - $195,000 = $145,000

This $145,000 is the number a buyer will use to value your park. Not the 35 sites. Not your mortgage balance. Not how much you invested. The NOI.

Step 2: Apply the Regional Cap Rate

A capitalization rate (cap rate) is the percentage relationship between a property's annual net operating income and its market value. The formula is simple:

Value = NOI ÷ Cap Rate

Or rearranged to find cap rate:

Cap Rate = NOI ÷ Value

In Georgia's RV park market, cap rates are not uniform. They move based on location, risk profile, and buyer demand.

North Georgia Mountains: 8–10% Cap Rate

Mountain parks attract seasonal tourists during fall and spring. They're beautiful, but they're seasonal. A park with a strong 5-month season (May through September) and lighter shoulder months trades at higher cap rates (lower prices) than a year-round park at the same NOI. Partial hookups are common at mountain parks because many weekend campers don't need full W/E/S. Full hookups still command a premium. Access matters: parks near Blue Ridge or Helen have competitive advantage over rural mountain parks.

Atlanta Metro (Lake Allatoona Corridor, Canton, Cartersville): 7–9% Cap Rate

Atlanta metro parks draw corporate transient traffic, weekend campers from the city, and some snowbirds. Lake Allatoona parks do particularly well. Year-round occupancy is very achievable. Full hookups are standard. A well-managed park near I-75 with year-round flow trades at lower cap rates (higher multiples of NOI) because buyer demand is strong and risk is lower. These parks are the blue chips of Georgia's market.

Coastal Georgia (Savannah, Brunswick, Golden Isles, I-95 Corridor): 7–10% Cap Rate

Coastal parks have the most volatility. A full-hookup, year-round park near I-95 with strong snowbird appeal might trade at 7–8% cap. A seasonal-only park with partial hookups might trade at 10%. The I-95 corridor itself is golden—straight shot to Florida, easy highway access, strong corporate business. Parks in Savannah or near the beaches command premium pricing if they have good infrastructure and clean finances.

Central Georgia (Macon, I-75 Corridor): 9–12% Cap Rate

Central Georgia parks are less competitive. They serve transient I-75 traffic and local weekenders. Full hookups still matter, but the buyer pool is smaller. Expansion potential and prime highway access help. Without strong seasonal or year-round anchors, these parks trade at the highest cap rates (lowest multiples of NOI) in the state.

How Cap Rates Move: Factors That Compress (Lower Cap = Higher Price)

• Full water, electric, and sewer hookups
• Year-round occupancy (12 months of predictable revenue)
• Manager independence and documented processes
• Clean, organized financial records
• Expansion potential or adjacent land
• I-95 or I-75 corridor access
• Low environmental risk
• Turnkey operations with online reservation system

Factors That Expand (Higher Cap = Lower Price)

• Seasonal only (5–7 months)
• Partial hookups (water/electric only, no sewer)
• Owner-operated with no external manager
• Poor financial documentation or cash income
• Deferred maintenance
• Environmental concerns or liability exposure
• Month-to-month leases at below-market rates

Worked Examples Using $145K NOI

Same park. Different regions. Different cap rates.

• Atlanta metro at 8%: $145K ÷ 0.08 = $1,812,500
• Mountains at 9%: $145K ÷ 0.09 = $1,611,111
• Coastal at 8%: $145K ÷ 0.08 = $1,812,500
• Central GA at 11%: $145K ÷ 0.11 = $1,318,182

Same income. Different values. Location and market risk drive the difference.

North Georgia Mountains RV Parks

What Adds Value to Your Park

Not all RV parks with the same NOI are worth the same. The cap rate applied to that income depends on the quality of the asset and the strength of the market it serves.

Infrastructure Premium: Full Hookups vs. Partial

A park with water and electric only (partial hookups) might trade at a 10% cap rate. The same park, same NOI, but with full water, electric, and sewer hookups, might trade at 8.5% cap.

Why? Because full hookups allow longer stays, attract more discerning campers, and justify higher nightly rates. A guest paying $55/night for full hookups is more likely to stay 7–10 days than a guest paying $40/night for W/E only.

On a $145K NOI park:

• Partial hookups at 10% cap = $1,450,000
• Full hookups at 8.5% cap = $1,706,000
• Difference: $256,000 for the same income.

If you're a park owner considering an upgrade (running sewer lines to additional sites, converting to full hookups), this is the value conversation. Not in the short-term rent bump, but in the long-term salability and valuation multiple.

Year-Round vs. Seasonal: The Occupancy Premium

A park pulling 11-month snowbird and transient traffic is worth more than a seasonal park with a strong but short season, assuming the same NOI. Why? Predictability. Buyers underwrite stability. Month-to-month revenue variance in a seasonal park creates risk; consistent monthly cash in a year-round park doesn't.

This stability premium is why Georgia RV parks in year-round markets command better valuations. The cap rate difference is 0.5–1.5 points. On a $150K NOI:

• Seasonal park at 10% cap = $1,500,000
• Year-round park at 8% cap = $1,875,000
• Difference: $375,000 for the same income over different time horizons.

Manager Independence: Operator Risk

A park that requires the owner to be hands-on is worth less than a park that runs itself under a full-time manager. Buyers want to own properties, not jobs. A park with:

• Full-time manager with documented responsibilities
• Detailed operating procedures
• Online reservation system
• Separate P&L reporting
• Minimal owner involvement

...commands a lower cap rate (0.5–1 point advantage) vs. a park where the owner handles reservations, maintenance scheduling, and guest relations.

On a $120K NOI:

• Owner-operated at 10% cap = $1,200,000
• Manager-run at 9% cap = $1,333,000
• Difference: $133,000 for the same income because the buyer gets passive cash flow, not a job.

Expansion Potential: Future Upside

A park with adjacent land zoned for RV use, or with documented expansion approval from local government, tells a buyer: this NOI can grow. That narrative justifies a lower cap rate (0.5–1 point compression) even today.

A 40-site park with 10 approved but undeveloped sites, same $145K NOI:

• Without expansion narrative at 9% cap = $1,611,111
• With expansion narrative at 8% cap = $1,812,500
• Difference: $201,389 today, before you build a single new site.

This is why parks near growing suburbs in the Georgia RV park footprint, particularly those near I-75 expanding south, are worth more than identical parks in stable rural areas. Growth markets reward expansion-ready assets with lower cap rates and higher multiples.

What Hurts Your Park's Value

On the flip side, certain operational and infrastructure deficits drive cap rates higher (lower valuations) and create deal-killers.

Owner-Operated, No Manager: Cap Rate Penalty 0.5–1 Point

If you're the hub of every operation—you answer the gate phone, schedule maintenance, handle complaints at 10 p.m., and manage financials—a buyer sees operational risk. They'll apply a penalty cap rate and potentially demand you stay on as a transition manager (at a salary, reducing their net proceeds).

On a $150K NOI park valued at $1.5M (at 10% cap if owner-operated):

• A buyer might push cap to 10.5–11%
• New value = $150K ÷ 10.5% = $1,428,571
• Loss: $71,429 just for being too present.

Hire a manager. Document processes. Give buyers the confidence that this park runs without you.

Partial Hookups Only: Cap Rate Penalty 1–2 Points

Parks without sewer infrastructure can't compete on rate or length of stay. Buyers see limited upside. A 1–2 point cap penalty is realistic.

$120K NOI park:

• Full hookups at 8.5% cap = $1,411,765
• Partial hookups at 10% cap = $1,200,000
• Loss: $211,765 because you haven't invested in sewer.

If your park is still partial-hookup, ask yourself: is the cost of running sewer lines less than the valuation uplift? Usually, it's not.

Poor Financials / Cash Income: 10–20% Price Reduction or No Deal

If you run your park on cash and your records are scattered—some revenue on personal tax returns, some unreported, expenses mixed with personal items—buyers will walk. Or they'll demand a 15–20% discount to account for uncertainty.

A park with $150K documented NOI might be valued at $1,800,000 (at 8% cap). The same park with $150K undocumented cash income? Buyers assume it's actually $130K (after haircut) and value it at $1,560,000.

Loss: $240,000 for not keeping clean books.

Deferred Maintenance: Dollar-for-Dollar Plus

A buyer walking the grounds sees a bad roof, cracked asphalt, broken water lines, overgrown landscaping. They calculate what it costs to fix ($50,000). Then they discount the purchase price by 1.5–2x that amount ($75,000–100,000) because:

1. They don't trust your other systems either.
2. It disrupts operations while repairs happen.
3. It signals neglect in the financials too.

Fix deferred maintenance before selling. It almost always pays for itself.

Environmental Issues: Deal-Killer

Soil contamination, wetland violations, or underground tank issues can cost $50,000–$500,000 to remediate or render a property unsellable. Phase I environmental assessments are standard in RV park deals. If you suspect issues, get ahead of them.

Month-to-Month Tenants at Below-Market Rates: Limited Upside

A park with 20 long-term residents on $400/month leases in a market where new nightly rates are $50/night limits buyer confidence in future income. Buyers underwrite growth conservatively. They assume new sites will eventually fill at current market rate, but they won't count on raising existing residents significantly.

Cap rate impact: +0.5–1 point (lower valuation) because buyer sees income stagnation.

How to Get a Professional Valuation

You have three options, each with trade-offs.

Option 1: Certified MAI Appraisal

Cost: $3,000–$8,000 Timeline: 4–6 weeks Best for: Estate planning, divorce proceedings, refinancing

A certified MAI (Member of the Appraisal Institute) appraiser will conduct a detailed inspection, pull comparable sales, and produce a formal appraisal report. It's the gold standard for legal disputes or refinancing.

The catch: Buyers doing their own due diligence will order their own appraisal anyway. Your MAI appraisal is useful for you, not usually persuasive to a buyer.

Option 2: Broker Price Opinion

Cost: Free Timeline: 1–2 weeks Best for: If you're willing to list

An RV park broker will give you a "Broker Price Opinion" (BPO)—their estimate of what your park will sell for—at no upfront cost. They make money on commission (typically 6–10% of sale price).

The catch: They have a financial incentive to list the property and create a commission. Their opinion isn't independent, and you're now committed to a listing agreement and paying commission if you sell.

Option 3: Direct Buyer Conversation (rv-parks.org)

Cost: Free Timeline: 1–2 days Best for: Actual valuations with no obligation, no commission

We buy parks directly. We'll review your 12-month revenue and expense summary, ask questions about your operations, and give you a straight answer: here's what your park is worth in today's market, and here's what we'd pay.

No listing agreement. No commission. No broker middleman. If you want to sell to us, we'll make an offer. If you want to use that valuation conversation to inform your own decisions or shop it to other buyers, that's fine too.

Atlanta Metro RV Parks

Valuation Worked Examples by Georgia Region

Small Mountain Park: Seasonal, Partial Hookups

20 sites, May–September operation, water/electric only

Nightly revenue (150 days × 16 sites avg × $35/night): $84,000 Monthly revenue (2 off-season months × 4 sites × $400): $3,200 Total revenue: $87,200

Expenses: $27,200 (utilities, taxes, insurance, part-time labor, minimal repairs)

NOI: $60,000

At 10% cap (seasonal, partial hookups): $600,000 At 9% cap (if you added sewer, hired manager): $667,000

This is an entry-level RV park. Margins are thin. Growth potential is limited by the season. A buyer is paying you for stable 5-month cash flow, not year-round upside.

Mid-Size Mountain Park: Full Hookups, Managed

40 sites, seasonal-to-year-round (10 winter months), full W/E/S

Nightly revenue (200 days × 30 sites × $45/night): $270,000 Monthly revenue (12 months × 10 sites × $600): $72,000 Total revenue: $342,000

Expenses: $222,000 (utilities, taxes, insurance, full-time manager, maintenance, marketing)

NOI: $120,000

At 8.5% cap (full hookups + manager + some year-round flow): $1,411,765

This is a competitive park. It has infrastructure, management, and increasing year-round revenue. A buyer sees stability and potential.

Atlanta Metro Suburban: Year-Round, Full Hookups

55 sites, year-round occupancy, full W/E/S, corporate transient focus

Nightly revenue (250 days × 40 sites × $50/night): $500,000 Monthly revenue (12 months × 15 sites × $700): $126,000 Ancillary (dump, laundry, storage): $24,000 Total revenue: $650,000

Expenses: $475,000 (utilities, taxes, insurance, manager + maintenance staff, marketing, software, accounting)

NOI: $175,000

At 7.5% cap (year-round, full hookups, Atlanta metro, strong demand): $2,333,333

This is a trophy asset in Georgia's market. Consistent monthly cash flow, high per-site revenue, low seasonality risk. Buyers compete to own this.

Coastal/Savannah Area: Full Hookups, Snowbird Pattern

45 sites, full W/E/S, strong November–March occupancy, moderate summer

Nightly revenue (240 days × 35 sites × $48/night): $403,200 Monthly revenue (4 months × 10 sites × $550): $22,000 Total revenue: $425,200

Expenses: $285,200 (utilities, taxes, insurance, manager, maintenance, marketing)

NOI: $140,000

At 8% cap (full hookups, snowbird stability, I-95 access): $1,750,000

Coastal parks are reliable. They pull snowbirds predictably. Infrastructure is good. A buyer sees 8+ months of strong cash flow and modest shoulder seasons.

Georgia RV Park Valuation: At a Glance

Frequently Asked Questions

How do I calculate my Georgia RV park's value?

Divide your Net Operating Income by your regional cap rate: Value = NOI ÷ Cap Rate. Start by calculating NOI: add all revenue streams and subtract operating expenses (not debt service). Then apply the appropriate cap rate for your region (mountains 8–10%, Atlanta 7–9%, coastal 7–10%, central 9–12%). Use the lower end of the range (higher value) if your park has full hookups, year-round occupancy, a manager, and clean financials. Use the higher end (lower value) if it's seasonal, partial hookups, owner-operated, or has deferred maintenance.

What is NOI and why does it matter for valuation?

NOI (Net Operating Income) is gross revenue minus operating expenses—utilities, labor, insurance, property taxes, marketing, software, repairs, supplies. It does not include debt service (loans), depreciation, or your personal owner draw. NOI matters because it's the only metric buyers care about. Your pad count, amenities, or historical investment are irrelevant. NOI is the annual cash profit that an experienced operator will generate from day one after closing. That's what they're buying.

What cap rate should I use to value my Georgia RV park?

It depends on your region and operational profile. North Georgia Mountains: 8–10%. Atlanta Metro: 7–9%. Coastal Georgia: 7–10%. Central Georgia: 9–12%. Within your region, move toward the lower cap rate (higher valuation) if you have full hookups, year-round occupancy, a hired manager, clean financials, and expansion potential. Move toward the higher cap rate (lower valuation) if you're seasonal, partial hookups, owner-operated, have poor records, or need deferred maintenance.

Does the number of sites matter in valuation?

Not directly. What matters is NOI per site and the quality of that income. A 30-site park with $150K NOI is worth more than a 50-site park with the same $150K NOI because the first park has higher margins and efficiency. Buyers will analyze NOI per site as a sanity check: $150K NOI ÷ 30 sites = $5,000 per site per year is strong. $150K ÷ 50 sites = $3,000 per site per year is thin. But the valuation formula is always based on total NOI and the cap rate, not raw site count.

How does location affect my park's value in Georgia?

Location drives cap rates, which drives valuation multiples. An Atlanta metro park with $145K NOI at 8% cap is worth $1.8M. The same $145K NOI mountain park at 9% cap is worth $1.6M. I-75 and I-95 access, proximity to major population centers (Atlanta, Savannah, Augusta), and gateway destinations (mountain towns, beaches) compress cap rates (higher valuations). Rural roads, seasonal-only markets, and limited nearby demand expand cap rates (lower valuations). A smart buyer will pay a premium for reliable location.

What is a MAI appraisal and do I need one?

A MAI (Member of the Appraisal Institute) appraisal is a certified, formal valuation conducted by a licensed professional. It costs $3,000–$8,000 and takes 4–6 weeks. It's legally defensible for estate, divorce, or refinancing purposes. You don't need one to sell—most buyers will order their own appraisal anyway. If you're refinancing or dealing with estate issues, a MAI appraisal is the right choice. If you're exploring a sale, a free Broker Price Opinion or a direct buyer conversation is faster and cheaper.

Why do full hookups make my park worth more?

Full water, electric, and sewer hookups allow longer stays, higher per-night rates, and attract more discerning guests. A park with full hookups can justify $50+/night for a quality site. A partial-hookups park tops out around $40/night. That rent premium compounds over a year. Plus, a buyer can raise rates more aggressively at a full-hookups park because guests expect full-service infrastructure. The cap rate reflects this: full hookups might trade at 8.5%, partial at 10%—a 1.5-point premium that translates to $150K–$300K in value on a $1.5M park.

How do I get a free valuation of my Georgia RV park?

Contact rv-parks.org directly. Send us your 12-month revenue summary and month-by-month operating expenses. We'll review it, ask clarifying questions about occupancy patterns and local market conditions, and give you a straightforward valuation and an indication of what we'd pay. No obligation, no listing agreement, no commission. You can use that valuation to inform your own decisions, shop to other buyers, or refinance.

What if my financials are not well organized?

Gather 12 months of bank statements, tax returns, and expense receipts now. Organize revenue by month and category. Organize expenses by type. If you've been running cash and your records are spotty, spend a weekend reconstructing estimates based on your memory and available docs. Buyers will haircut unverified income anyway (assuming it's 10–15% lower than claimed). The cleaner your records, the more confident a buyer will be in their valuation and the less they'll discount for uncertainty. Clean books are worth $100K+ on a $1.5M deal.

How long does it take to sell after I know my park's value?

If you're a strong buyer prospect (full hookups, year-round, clean financials, low-drama operations, hired manager), 60–90 days from first conversation to closing is realistic. If your park requires work (deferred maintenance, poor records, owner-dependency, environmental questions), budget 4–6 months for due diligence, underwriting, and environmental assessment. If you're listing with a broker and hoping for a retail buyer, 6–12 months is standard. Direct buyer channels (like rv-parks.org) can move faster because we do our own underwriting and don't need to line up external financing.

If you own an RV park in Georgia, the path to understanding its value is clear: calculate NOI, apply your regional cap rate, and understand what operational factors move the multiple. The parks that sell fastest and for the best prices are the ones with solid infrastructure, clean financials, operational independence, and year-round cash flow.

rv-parks.org will give you a free, no-obligation valuation conversation. Send us your 12-month revenue and expense summary and we'll tell you what your park is worth and what we'd pay. No broker, no listing fee, no pressure. /sell

Jenna Reed Director of Acquisitions rv-parks.org jenna@rv-parks.org