Biloxi RV & Boat Storage
11% COC with Owner Financing
Marketing description
Property Description
Exceptional opportunity to acquire a superbly constructed 36-unit boat and RV storage facility with an on-site 1,400-square-foot, 2-bedroom residence. The property was originally developed by the seller for personal use and built to a high standard, with quality construction, premium finishes, and wind-rated improvements designed to withstand at least 160 mph winds.
The storage facility is currently producing strong in-place income, with annual storage income of approximately $140,990 and only three vacant units, representing 91.7% physical occupancy and 93.3% economic occupancy. The on-site residence is currently being held vacant to provide flexibility for an owner-operator, but it is projected to generate at least $18,000 per year if rented.
Including the house rental income, total in-place income is projected at $158,990, with estimated operating expenses of $41,322, resulting in a current NOI of approximately $117,668. At the storage facility asking price of $1,600,000, this represents an in-place cap rate of approximately 7.35%.
An additional income component is available through a nearby ice machine located on a separate lot. The ice machine grosses just over $33,000 annually, with estimated expenses of approximately $9,000, producing an additional net income of roughly $24,000 per year. When included with the storage facility and residence, total projected NOI increases to approximately $141,668. The full package is being offered at $1,800,000, representing an estimated cap rate of approximately 7.9%.
Seller financing is available, with proposed terms of 75% LTV, 6.5% interest-only payments, and a 3-year balloon. Based on these terms, projected pre-tax cash flow is approximately $53,918, representing an estimated 12% cash-on-cash return.
This property offers a compelling combination of durable construction, stable income, upside through lease-up and residential rental income, additional cash flow from the ice machine, and attractive seller financing. With online management systems, full security camera coverage, and remote gate access, the facility has been successfully managed from out of state, making it well-suited for both hands-on and remote ownership.
Investment highlights
Highlights
- 36-unit boat and RV storage facility with strong in-place income
- Includes a newly built 1,400-square-foot, 2-bedroom on-site residence
- Residence may be owner-occupied or rented for projected income of at least $18,000 annually
- Current storage income of approximately $140,990 per year
- 91.7% physical occupancy with only 3 vacant units
- 93.3% economic occupancy
- Projected NOI of approximately $117,668 with the residence rented
- 7.35% in-place cap rate at the $1,600,000 asking price for the storage facility
- Additional nearby ice machine income available as part of the package
- Ice machine produces approximately $24,000 in annual net income
- Full package offered at $1,800,000
- Estimated total NOI of approximately $141,668 with ice machine income included
- Estimated 7.9% cap rate on the full package
- Seller financing available at 75% LTV, 6.5% interest-only, with a 3-year balloon
- Projected pre-tax cash flow of approximately $53,918 under proposed seller financing
- Estimated 12% cash-on-cash return with seller financing terms
- High-end construction; wind rated to at least 160 mph
- Fully online management capability
- Security cameras cover the property
- Remote gate access allows ownership to manage and provide tours remotely
- Ideal for an investor or owner-operator seeking stable income with additional upside
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