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The residents of Key RV Park in Marathon, Fla., have reached an agreement to buy the land on which the campground is located, according to the Keynoter newspaper of Key West, Fla.
Pat O’Malley, principal owner of the facility, said the agreed-upon sales price is “just shy of $13 million.
“I think it’s a great deal for everybody,” O’Malley said. “We’re really selling the park at a discount.”
Key RV Park includes 190 sites, which puts the average price at around $60,000 per lot.
The pending sale follows evictions at other RV and manufactured home parks in the Florida Keys to make way for the development of luxury residential properties.
Residents of Lion’s Lair Travel Park in Grassy Key, Fla., bought the park property in July for $4 million to avoid having to move, the Keynoter reported.
O’Malley, who is based in Arizona, bought Key RV Park in July for $6 million, according to Monroe County (Fla.) Property Appraiser’s Office records. He will pay around $900,000 in closing costs and other fees, but still will come close to doubling his money in less that a year, the newspaper reported.