RV and Boat Storage in central Texas

[Molly Morlino]

We have 64 covered (40 ft x 13 ft) RV and boat storage spaces in Kyle, TX.  We currently get $85/mo per space (not inc tax) and we rarely have vacancies for more than 12 hours.  In other words, it's been a great investment.  They sit on 2 acres.  We already owned the land so the improvements cost about $200k (site prep, building the covered storage, etc)

So... We're looking at more land about 20 minutes west of San Marcos, TX.  It's unrestricted and has 200 feet of 32 road frontage.  We have seen uncovered storage do very well.  We have run the numbers and expect we could get about $45 per space and would squeeze about 250 *uncovered* spaces on this land.

This would require grading, putting down road base, security lighting, cameras, an 8 ft perimeter fence with gate (not automatic).  We wouldn't really need to add anything else, I don't think... basically renting the land out.

Does anyone have any thoughts or opinions?  There's a serious lack of RV storage in the area.  We have friends with 240 spots who, like us, aren't vacant for long.  We do all of our payments through Cozy, which makes it easy.  It's a high turnover but it's easy to keep up with, with little maintenance.