Funding Requirements
$295,000 - $450,000
Roaring Creek Campground LLC is seeking funding for a 46 acre parcel of land located in Dunlap TN. The parcel ID is 114M C 005.00. This property was purchased in Oct of 2024 as a 155 acre property which was the former Mt Airy Golf Club. The purchase price was $1,7m.
Our company began to subdivide the property and sell it in larger parcels. With extensive experience in the development of RV parks our company saw an opportunity to add value to this property due to the fact we could purchase this which was unrestricted in a county with no zoning and change the use of the property to an RV park and then sell the remaining land for residential and commercial use.
These types of projects can often be purchased for less than asset value due to the fact many golf courses lose money on operations and will sell based on a cap rate which is below the asset value of the land. In July of 2025 our company sold approx. 50 acres of the 155 acres for $1.34M to a RV park operator from NC.
Since that time we have sold:
10.7 acres for $170,000
6.5 acres for $125,000
7 acre for $99,000
7 acres for $120,000
And we have a 7.5 acre parcel pending close in mid March for $125,000
This portion of the property was the least attractive for development, so it was sold off first in order to focus on the development of the remaining 52 acres which has a private 16 acre lake as well as three large ponds. Almost ¾ of a mile of road frontage on a major US highway (US 127). An irrigation system valued at close to $1m. Almost 2 miles of paved walking trails. And million-dollar views.
We have installed a six-inch water main across the property which would provide city water for a large scale residential development as well as three phase underground power. The property has been soil mapped and entrance permits have been issued by the state of TN and a new entry road has been built to enter off of the main highway and several other access points exist.
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The company current owes a mortgage of $150,000 on the remaining property and is seeking funding to pay out the exit of a partner that we have on the property. The partner is asking for $295,000 to sell out his portion of the project so we are seeking either a 2nd position at $295,000 or a first position of $450,000.
The current value of the remaining property is approximately $1m. We have a large national brand glamping company looking to lease the property for one of their franchise operators so we would prefer some long term debt and keep the property or at least most of the property.
Homes around the course are in the $400k to $600k range and is a very high growth area with the county seeing a 20-30% appreciation rate (https://www.redfin.com/county/2621/TN/Sequatchie-County/housing-market). This area is one of the few parts of the county that has counties in a major Metro market that has no zoning or building permit requirements, which is a major selling point for buyers.
Principal of the company has a credit score of around 720. Open to preferred equity financing or Non QM bank statement loans. ould be open to short term 12-18 month bridge loan which would allow us to sell off a few parcels to cover the debt and retain the commercial portion of the property and lakefront portion. We do have 15 acres (three parcels at 5 acres each) listed at $155k or $30,000 per acre.
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