Boat and RV Storage Facility for Sale
Very profitable and easy to manage boat and RV storage facility for sale in Oklahoma. This property requires very little of the owners time to run. This property has historically been over 90% and currently is around 95% full. The property has 56 enclosed boat storage bays, 20 covered bays for RV parking. The property also has 50 gravel uncovered parking spots. There is an office that is rented on the property for $750 per month and a house that is rented for $1000 per month. Yearly gross income is over $120,000 per year with net income of over $93,000.
The property has upside in the rents are slightly below market value and could easily be raised when purchased. Additionally the new buyer can convert the gravel parking to covered parking and increase the rents received from each of those spaces by $70 per month adding an additional $3000 or more of income per month.
Asking price is $1,311,000 which provides a 7% CAP. This property could easily be increased to a 9% CAP or greater by increasing the rents and installing more covered parking.