I have several SFH that I own and rent but recently I have been curious about RV and Boat Storage commercial real-estate (not self storage).
Does anyone know about this type of investment along with any advice you care to share and/or where I can get more information about it?
There is a shortage in many places for boat and Rv storage. This can be a very good business but you need to get land at a reasonable price to work best. Unlike self storage , your market area will be larger because people are willing to drive several miles to store their toys. The property should be several acres and if you are going to build structures, you will need to allow adequate drive space between buildings. For example if you'd be building fully enclosed buildings you will need to have drive aisles of at least 125% of the width of the largest building on the drive for turning radius. If you are building canopies you can have drive aisles that aren't as wide because you can angle the parking under these structures. Depending on the size of the facility you may be able to operate it as an unmanned facility using technology.
I have also been interested in the idea of a storage park. Havent seen too many threads here on BP about the subject but it does seem that dependent on your area it could be lucrative.
Here in CA most outdoor places are between 100-175 a month depending on size. After a few years of dealing with toilets, leaking this and that, renters not willing to change bulbs etc... RV storage is looking better and better.
Toss some solar panels on the canopies and get even more income (no idea if that numbers even pencil out).
Inside Self Storage will most likely be the best overall resource. I’ve seen multiple articles in their magazine about the topic through the years.
I think Baja is the leader in covered boat and RV solar canopies if your interested in that feature.
We offer general uncovered parking at our storage facility but see very little demand. However, I see facilities that offer it in adjacent larger cities killing it. I think boat and RV storage does great when you are located in or near a city that passes code enforcement that keeps folks from parking recreational toys in their driveway.
Hope that helps!
Not finding anything on Teachable. Want's account and more info from me than necessary. Got an easier way?
Find an area where there are HOA's . Most dont allow campers or boats . They need storage . With the Covid , RV sales are up as are small boats , people dont trust planes or hotels .
One customer of mine owns a storage lot . 50 spots at $125 a month . Card key access , 8ft chain link fence , and gravel lot . There is a waiting list .
https://premierparkplace.com/ this place charges $400 a month for full size RV's with a 30 amp electric hookup. They are completely full with a 4 to 6 month wait list. They also will store cars/truck inside for $185 a month. This is the nicest indoor RV storage place I was able to find in North Texas/DFW area. Most other places are only offering covered parking with an electric hookup.
I don't have experience in this area - but the first thing you would need to look at is insurances. What happens if their property is damaged or destroyed whilst you store it?
Then access, how can they access their stuff? Is it 24hr access?
Just throwing some questions out there for you, don't need answers but it can help you when considering ideas!
My partner and I are actively looking for opportunities in this space. Anybody have any avenues for that? We are also happy and interested in developing.