Ft.Delaware RV project- Preliminary
EYEHEART PROPERTIES
Preliminary Investor Report & Business Proposal
Fort DuPont RV & Campground Resort Development
Delaware City, Delaware
1. Executive Overview
EyeHeart Properties presents a preliminary investment opportunity to participate in the development of a fully approved 135-acre RV and campground resort adjacent to Fort DuPont in Delaware City, Delaware.
The site has previously secured development approvals for:
- 347 RV sites
- 55 cottages
- 20 tent sites
This scale positions the project as one of the most significant outdoor hospitality developments in the Mid-Atlantic corridor.
The project benefits from:
- Strategic proximity to Interstate 95 (I-95)
- Accessibility to major metropolitan markets
- Established tourism drivers
- Approved master plan status
This report outlines the investment rationale, location advantages, revenue potential, and projected return profile.
2. Strategic Location Advantage
Proximity to I-95: A Core Investment Driver
The property is located within convenient driving distance of Interstate 95, the primary north–south corridor of the Eastern Seaboard.
I-95 provides direct connectivity to:
- Philadelphia (~1 hour)
- Baltimore (~1.5 hours)
- Washington, D.C. (~2.5 hours)
- New York City (~3 hours)
This proximity provides three critical investment advantages:
-
High Travel Visibility & Accessibility
RV travelers prioritize convenient interstate access. Easy ingress and egress significantly increase occupancy probability. -
Large Addressable Market
Within a 3-hour drive radius, the population base exceeds 30 million residents. This creates consistent weekend and seasonal demand. -
Interstate Travel Capture
Long-distance RV travelers along the East Coast corridor require overnight and short-stay options near major routes. This project is positioned to capture that transient demand.
In outdoor hospitality, accessibility directly correlates with occupancy stability and revenue resilience.
3. Market Opportunity
Industry Fundamentals
The RV and outdoor recreation sector has demonstrated strong growth over the past decade, supported by:
- Increased RV ownership
- Demand for experiential travel
- Preference for flexible accommodations
- Growth in seasonal and remote-work travel
Outdoor hospitality assets benefit from:
- Lower operating costs relative to traditional hotels
- Flexible pricing structures
- Seasonal premium pricing capability
- High-margin ancillary revenue streams
4. Project Scale & Revenue Mix
Approved Plan Includes:
| Accommodation Type | Quantity |
|---|---|
| RV Sites | 347 |
| Cottages | 55 |
| Tent Sites | 20 |
| Total Units | 422 |
This diversified lodging mix supports:
- Nightly transient guests
- Seasonal renters
- Extended stay RV tenants
- Premium cottage stays
- Event-based bookings
Diversification mitigates revenue volatility.
5. Preliminary Financial Model (Illustrative)
Stabilized Year Assumptions (Conservative)
- Average RV nightly rate: $60–$85
- Cottage nightly rate: $110–$160
- Average annual occupancy (blended): 60–70%
- Operating expense ratio: 45–50%
Estimated Stabilized Annual Revenue
| Category | Estimated Revenue |
|---|---|
| RV Sites | $1.8M – $2.3M |
| Cottages | $500K – $750K |
| Tent Sites | $120K – $180K |
| Ancillary (events, add-ons) | $150K – $250K |
| Total Revenue | $2.6M – $3.4M |
Estimated Stabilized Net Operating Income (NOI)
Projected NOI range:
$1.2M – $1.6M annually
6. Capital Investment & ROI Outlook
Estimated Development Capital
(Preliminary estimate; subject to engineering review)
- Infrastructure & utilities
- Site work & grading
- Roads and pads
- Cottage construction
- Amenities & common areas
- Working capital
Estimated total development: $12M – $18M
Stabilized ROI Estimate
| Scenario | Annual NOI | Estimated Yield |
|---|---|---|
| Conservative | $1.2M | 8–10% |
| Base Case | $1.4M | 12–15% |
| Optimized | $1.6M | 15–18%+ |
Long-term exit valuation (at 7–8% cap rate) suggests significant appreciation potential once stabilized.
7. Risk Profile & Mitigation
Strengths
- Approved master plan reduces entitlement risk
- Strategic interstate proximity
- Large regional population base
- Diversified lodging mix
- Scalable 135-acre footprint
Mitigated Risks
- Demand volatility mitigated by proximity to I-95
- Seasonal fluctuations offset by cottage rentals and event programming
- Development scale allows phased buildout
8. Competitive Advantage
Unlike remote campground developments, this site combines:
- Interstate proximity
- Waterfront adjacency
- Historical tourism appeal
- Major metropolitan accessibility
Few projects in the Mid-Atlantic offer this combination at scale.
9. Strategic Alignment with EyeHeart Properties
EyeHeart Properties focuses on:
- Scalable real estate assets
- Regenerative tourism infrastructure
- Community-centered economic ecosystems
- Long-term value creation
This project supports:
- Regional economic stimulation
- Hospitality-driven asset appreciation
- Sustainable travel infrastructure
- Mixed-use expansion opportunities (future phases)
10. Investment Structure Options
Potential structures include:
- Equity partnership
- Preferred return structure (8–10% pref + profit participation)
- Joint venture model
- Phased capital deployment
- Strategic operating partnership
Detailed pro forma and capitalization model available upon NDA.
11. Preliminary Conclusion
The Fort DuPont RV & Campground Resort represents:
- A shovel-ready large-scale hospitality asset
- A strategically positioned interstate corridor investment
- A diversified revenue model with multiple yield drivers
- A strong long-term appreciation candidate
Given current macro trends in experiential travel and outdoor recreation, this asset class continues to outperform many traditional hospitality segments.
EyeHeart Properties believes this project warrants serious capital consideration.
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