Commercial Real Estate Investing

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Tyler Hardy
  • Rental Property Investor
  • Williamson, GA
33
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78
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RV and boat storage property

Tyler Hardy
  • Rental Property Investor
  • Williamson, GA
Posted Mar 17 2021, 08:28

I'm in the planning stages now for an RV and boat storage facility in my area of Pike county Georgia. There's an urgent need and I know there's a large number of people in the area who have expressed that something needs to be built. I've already narrowed down a few pieces of property, but I'm wondering what sort of budget I should set for this type of a project?

The issue in my area is the dollar per acre. It looks like this property on a major highway is going to run around $30,000 an acre. That's much more than I think a storage facility can justify. The pricing in my area for this type of storage is generally $50 for outdoor storage, and $125 to $150 for covered storage with power for RVs and boats to maintain a trickle charge. I'm in the process of pricing out buildings for the covered areas but my plan was to open the facility as a simple outdoor lot to start bringing in some cash flow up front. Not to mention, build up the word of mouth in the area. Does anyone have experience in these types of facilities? Is there a certain size piece of property that I should be shooting for? Should I look for a cheaper property and focus on outdoor only, or swing for the fences and do a barge lot of nothing but covered? Any advice is good advice. Thanks for reading!

Keywords: Zebulon, Williamson, mini warehouse, Atlanta, Griffin, McDonough, Henry county, Spalding county, camper, trailer

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