An appraisal is a professional, written opinion of what your campground or RV park is worth on a given date. It is one of three common ways owners get a sense of value, along with a broker’s opinion and conversations with buyers. This page explains when an appraisal is worth paying for, who does them, what they look at and how to prepare. An appraisal can help whether you list with a broker or sell your campground to an operator.
Appraisal, broker opinion or buyer offer?
| Appraisal | Broker opinion of value | Buyer’s offer | |
|---|---|---|---|
| Who prepares it | A licensed or certified appraiser | A real estate broker, often one who specializes in parks | A buyer |
| What it is | A formal, documented opinion of market value | A market-based estimate of a likely selling price | What that buyer will pay, on their terms |
| Typical cost | A fee paid by whoever orders it | Often free or low-cost, usually tied to a possible listing | None |
| Can be used for lending, court or tax purposes | Often, if it meets the requirements | Usually not | No |
| Best for | Financing, estates, gifting, partner buyouts, disputes | Setting a list price and testing the market | Knowing a real, actionable number |
None of these is “right” on its own. An appraisal looks back at evidence. A good broker knows what buyers are bidding now, including sales that never show up in public records. A buyer’s offer tells you what one party will actually pay.
When an appraisal makes sense
- Estate and succession planning. Passing a park to children, or settling an estate, often needs a documented value.
- Partner or family buyouts. A neutral number can keep a buyout fair and reduce arguments.
- Financing or refinancing. Lenders order their own appraisals, but knowing your value beforehand helps.
- Tax matters. Gifting, charitable donations of land, or property tax appeals may require one. Talk to your CPA and attorney about what’s required.
- Pricing an unusual park. If there are few comparable sales near you, a careful appraisal can help anchor your expectations.
If you are simply curious what your park might sell for, many owners start with their own NOI math and a broker opinion of value before paying for an appraisal.
Keep in mind that if you sell to a buyer who uses a loan, their lender will usually order its own appraisal. If it comes in below the agreed price, the buyer may need to bring more cash, ask you to lower the price, or ask you to carry part of the financing.
Who appraises campgrounds
Look for a state-certified general appraiser, which is the credential needed for commercial property in most cases. Many experienced commercial appraisers also hold the MAI designation from the Appraisal Institute.
Credentials aren’t enough on their own. Campgrounds and RV parks are a specialty. The Appraisal Institute even publishes a dedicated book on the subject, Appraising Manufactured (Mobile) Home Communities and Recreational Vehicle Parks (2017). When you call appraisers, ask:
- How many campgrounds or RV parks have you appraised in the past few years?
- Where do you find comparable sales for parks?
- How do you handle seasonal income and owner labor?
- What is your fee, and how long will the report take?
- Will you visit during the operating season?
What an appraisal costs and how long it takes
We haven’t found a reliable published fee range for campground appraisals, so we won’t quote one. Fees depend on the size and complexity of the park, the purpose of the report and the appraiser’s workload. Get two or three written quotes with fees and turnaround times before you choose.
What appraisers look at
Most appraisers consider three approaches and then reconcile them:
- Income approach. Normalized net operating income divided by a market cap rate. For an operating park this usually carries the most weight.
- Sales comparison approach. Recent sales of similar parks, adjusted for size, location, site types and season.
- Cost approach. Land value plus the cost to build the improvements today, minus depreciation.
Appraisers also deduct a reserve for replacing items like roofs and utilities. MMCG’s August 2026 market outlook describes the appraiser’s convention as roughly $75 per pad per year, in line with Newmark’s 2026 survey as reported by BVWire.
What to have ready
- Three years of profit and loss statements and tax returns
- A trailing-12-month P&L and reservation reports by site type
- A site map with site counts, hookups and amperage
- Seasonal agreements, rate sheets and renewal history
- Permits and licenses, including campground, health, well and septic permits
- Recent inspection reports and a list of major repairs and upgrades with dates
- A list of equipment and anything that would not be included in a sale
Be ready to explain owner expenses, unpaid family labor and one-time costs. The clearer your records, the better the appraiser can see the park’s real earning power.
After the appraisal
An appraisal tells you value. It doesn’t set your asking price on its own.
If you’d like to understand how an operating buyer would look at your park, GatherGrounds owns and runs three campgrounds in Michigan and Ohio. We can walk through our view of your numbers. You can reach us through the form on our Sell Your Campground page. For larger parks, multi-park portfolios or owners who want the widest exposure and competitive bidding, a specialized broker is often the better route.
GatherGrounds looks at campgrounds and RV parks with 130 or more sites in Michigan, Ohio and other Great Lakes states, and parks that need work, such as deferred maintenance or dated infrastructure, are welcome.
Thinking about selling? Talk with us confidentially through the form on our Sell Your Campground page.
Questions
Do I need an appraisal to sell my campground?
No, not always. Many owners price their park using their own NOI math and a broker opinion of value. An appraisal is often needed for financing, estates, gifting, partner buyouts or disputes.
How much does a campground appraisal cost?
Fees vary with the park’s size and complexity and the purpose of the report. We haven’t found a reliable published range, so get two or three written quotes with fees and turnaround times.
What is the difference between an appraisal and a broker opinion of value?
An appraisal is a formal, documented opinion of market value by a licensed or certified appraiser. A broker opinion of value is a market-based estimate of a likely selling price, often free or low-cost, and usually not accepted by lenders or courts.
Will the buyer’s lender do its own appraisal?
Usually, yes. If it comes in below the agreed price, the buyer may need more cash, may ask for a lower price, or may ask the seller to finance part of the purchase.
What credentials should a campground appraiser have?
Look for a state-certified general appraiser, often with the MAI designation, and recent experience appraising campgrounds or RV parks.
