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Boat and RV storage

A self-storage model prices boat and RV storage wrong.

Oakside advises owners of self-storage and boat and RV storage, and the two are not the same asset with a different roof. The drive aisles, the tenant, and the revenue lines are all different. A valuation that ignores that starts in the wrong place.

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Our view

Four ways this asset behaves differently.

This is Oakside's position, formed on the deals we have run. Read it as an argument, and hold us to it on your facility.

  1. 01

    The physical requirements are different.

    Wide drive aisles and turning radiuses that a self-storage site plan never has to solve for. Covered versus uncovered, and what each one does to the rate. The dimensions that decide whether a fifth-wheel or a 40-foot cruiser can actually be parked, and how many of them fit.

  2. 02

    The tenant is a different person.

    A self-storage tenant is storing what will not fit at home. A boat or RV tenant is storing an asset they use on a schedule, in a season, near water or near an interstate. That changes what they will drive past, what they will pay for, and how long they stay.

  3. 03

    The revenue model is different.

    Enclosed, covered and open parking price separately. Concierge and service revenue sits alongside the rent. A site can carry outdoor storage, climate-controlled units in lease-up, and a single-use tenant on a term lease at the same time. Each of those underwrites differently.

  4. 04

    Generalists price it with the wrong model.

    Most brokers apply a self-storage valuation model to a product that does not behave like self-storage, then present the number with confidence. In our view that is where the money goes: not to a hard negotiation, but to a model that was never built for the asset. Advisors who understand both asset classes capture what generalists leave on the table.

Case study

Take Cover Storage, Seneca, South Carolina.

A Class A boat and RV storage conversion with concierge services, on a 65-acre site that had been a manufacturing plant. Enclosed boat and RV storage, climate-controlled units in lease-up, outdoor storage, and a single-use tenant on a five-year term.

Oakside identified the subset of buyers who already understood marina and concierge operations, and the property closed at a price 10% above the seller's expectations.

NRSF
125,722
Units
508
Versus expectation
+10%
Read the transaction

“I want to express my appreciation to Cameron Vale and his team that represented us in the sale of Take Cover Storage. We ended up closing with a fantastic result and could not have been more pleased working with this group. I would 100% work with them again in the future and would recommend their services to other owners.”

John B. Former owner, Take Cover Storage, Seneca, SC

The reading list

Everything we have written on this asset.

Written for owners, not for search engines. Start with valuation and turnover if you are close to a decision.

All insights

Oakside Companies. Florida real estate broker licence BK3367978.

Pre-Sale Strategy Session

See your facility through a buyer's underwriting lens.

Thirty minutes with Oakside on where a boat and RV facility sits in its life cycle, what a buyer who understands the asset will pay attention to, and the tax side of the exit. Nobody asks you for financials, a rent roll, or a tax return.