Feasibility Outlook for RV and Boat Storage Development

4075 Camelot Cir, Longmont, CO 80504

Market Overview: Surging Demand for RV & Boat Storage

Recreational vehicle and boat ownership in the U.S. has expanded significantly in recent years, driving a parallel rise in demand for storage facilities. Annual RV sales hit record highs during the pandemic (2021 saw all-time peak shipments) and remain strong despite a recent cooldown. In 2024 alone, there were 356,518 new RVs registered (a slight 6.9% dip from 2023’s volume of ~383,000) – still a historically elevated level of new units hitting the road. The nation’s boat fleet is similarly massive: 11.6 million recreational boats were registered in 2023, just off peak levels (down 1.9% year-over-year). Major boating states like Florida, Michigan, Minnesota, California, and Ohio lead in registrationsn, and Minnesota notably has the highest boats-per-capita (about 14,500 boats per 100,000 people). In total, roughly 8–10% of U.S. households now own an RV, and millions more enjoy boating, underscoring a vast customer base for storage.

Several factors are fueling the need for off-site storage. Most RVs and boats are used only seasonally – RV owners use their vehicles about 25 days per year on average, and boat owners around 54 days – leaving them idle the remaining timet Because these vehicles are large and often cannot be parked in neighborhoods (many HOAs and cities prohibit long-term driveway or street parking of RVs/boats), owners must seek secure storage facilities. In fact, fewer than 14% of homeowner associations even offer on-site RV/boat parking for residents The post-2020 surge in RV/boat purchases, coupled with these storage constraints, has created an acute supply-demand imbalance in many areas – there was a pandemic-era boom of RV/boat sales without a matching increase in storage infrastructure. This imbalance has kept occupancy levels at existing facilities very high (often near full capacity) and spurred strong interest in new development. Overall, the outdoor recreation trend appears durable: the RV industry’s economic footprint is large and growing (the U.S. RV market is valued around $48 billion and projected to reach $80+ billion by 2035 at ~4% CAGR), and younger demographics are increasingly embracing the RV/boating lifestyle. All these indicators point to sustained, robust demand for RV and boat storage for the foreseeable future.

Land Acquisition Dynamics: Prices & Market Benchmarks

One of the first feasibility considerations for RV/boat storage development is land – securing a suitably located parcel at an economically viable price. In today’s market, land costs for this niche have escalated. However, rising interest rates and a broader real estate cooldown have started to temper prices. Transaction activity also slowed: the volume of RV/boat storage properties sold in 1H 2024 was down ~30% compared to 2023, as some investors grew cautious. For developers, this moderating trend could present an opportunity to acquire land at slightly softer prices than seen at the frenzy of 2021–2023. Still, land remains a major cost driver in project feasibility, so careful market selection is critical.

Importantly, the price-per-acre benchmarks vary widely by location. Prime parcels near major metros or resort areas command a premium (often $500k+ per acre, with the most strategic sites reaching the ~$1M/acre range), while land on a city’s outskirts or in secondary markets can be far more affordable (sometimes well under $200k–$300k/acre, depending on region). RV/boat storage projects require ample acreage – even a moderate facility may span 5, 10, or 15+ acres – which amplifies the cost impact. This is why most new facilities are not built in dense city centers but rather in exurban or industrial-fringe locations where large tracts are available and reasonably priced Developers must strike a balance: you want to be near your customer base but not in the priciest zones. In practice, many successful projects secure land a little outside high-cost metro cores, in areas that still have strong population within a 15–30 minute drive but with land costs low enough to make the business model work. Recent expansion trends reflect this – much of the new RV/boat storage construction has been happening in smaller metros and fast-growing Sunbelt markets (particularly throughout the Midwest and Southeast) where demand is high but land is still relatively cheap.

Another key consideration is zoning and entitlement. Suitable land is only feasible if local zoning allows vehicle storage use. Many communities have strict zoning codes and may be reluctant to approve large open parking facilities due to aesthetics or low tax revenue density Early due diligence on zoning is crucial: a parcel already zoned for commercial self-storage or industrial use is ideal, whereas seeking a zoning change can be a lengthy challenge. Overall, land acquisition for RV/boat storage requires navigating a complex mix of price, location, and regulatory factors. Best practices include: leveraging local brokerage expertise for off-market deals, engaging land use attorneys to vet zoning, and being prepared to consider sites slightly off the beaten path (where competition is lower) so long as the surrounding market has sufficient demand drivers.

Key Site Selection Criteria for RV/Boat Storage

Choosing the right site can make or break a storage development’s feasibility. MMCG recommends evaluating potential locations against several key criteria:

• Proximity to Customers vs. Land Cost: Ideally, the site should be within a reasonable drive of major population centers or target customer neighborhoods, but not so close to city center that land prices are prohibitive. In practice, many facilities are 5–15 miles outside city limits or in outer suburbs – close enough for convenience, but far enough out to keep land costs viable. RV owners are generally willing to drive farther than typical self-storage renters; many will travel 20–50 miles to a quality storage facility for their “toys”. Thus, a slightly outlying location can work if it offers other advantages (price, space, access). High-growth metro areas (e.g. Houston, Dallas, Denver) tend to have the greatest demand and already host many RV/boat storage facilities, but smaller metros with rapid population and income growth can also be attractive.

• Affluent Demographics & HOA Restrictions: Focus on sites near middle- to upper-income communities where RV and boat ownership is common. The typical RV/boat owner has a solid income (often a household income in the $60k+ range)and likely owns a home; these customers often live in suburbs or exurbs. Notably, neighborhoods with stringent HOA rules create built-in demand – if local subdivisions prohibit parking an RV or boat at home, those residents must seek off-site storage. A site on the edge of a large master-planned community or adjacent to gated subdivisions can tap into a concentrated customer pool of owners who need storage. Essentially, areas with a high concentration of the target customer (boat/RV owners with disposable income and limited at-home space) are prime.

• Access to Recreation Hubs: Many owners prefer to store their vehicle near the places they use it. For boat storage, this means proximity to lakes, marinas, or coastal harbors is a big plus. For RVs, being near major highways leading to campgrounds, national parks, or popular outdoor regions can be advantageous. In some cases, owners even choose to store the RV/boat at the destination – for example, a boat kept near the lake house, or an RV stored near a favorite vacation area to avoid towing back and forth. Thus, sites that are on the way to or directly adjacent to recreational zones (lakes, rivers, state parks, etc.) will naturally attract users. At the same time, a location near population but not recreation can still succeed if it’s the most convenient option for urban owners. The best-case scenario is a site equidistant between a city and a recreation hotspot, or one that captures weekend traffic heading to those leisure areas.

• Visibility and Access: A site with good visibility from a major road and easy highway access will market itself. RV/boat storage often relies on word-of-mouth and drive-by discovery. Being near highways or at a well-traveled intersection can help customers find and trust the facility. Additionally, consider proximity to support amenities: owners may appreciate having gas stations, convenience stores, repair shops, and supply stores en route to the storage. As one expert notes, people want to “gas up, stock up and go” near their storage stop. A location that allows for a quick fuel or grocery stop before picking up the RV/boat is ideal. Good ingress/egress (wide road frontage, turn lanes, etc.) is also important for large trailers.

• Zoning, Utilities, and Site Conditions: Ensure the parcel is properly zoned (or can be permitted) for vehicle storage use early in the process.Industrial or commercial zoned land is usually required; agricultural or residential land will need re-zoning. Check for any ordinances or community opposition that could impede approvals – jurisdictions with lots of RV owners might actually favor a well-screened storage facility to get vehicles off streets. Also evaluate site infrastructure: access to electricity (for lighting, security systems, and possibly tenant plug-ins) and water (for wash stations or fire code) is highly desirable. The land should have suitable drainage and terrain – flat, non-floodplain sites are much more cost-effective to develop given the large paved areas involved. Avoid sites with environmental issues or irregular shapes that limit design efficiency. In sum, a feasible site is one that hits the sweet spot of strong market demand, permissible zoning, and affordable land cost.

Customer Demographics and Ownership Patterns

Understanding the customer profile for RV and boat storage helps developers tailor their projects and marketing. Historically, RV/boat owners were often retirees or camping enthusiasts, but today’s ownership base is broader and younger than many assume. According to recent industry surveys, the median age of RV owners is about 49 (down from 53 a few years prior), with a growing share of millennials and even Gen Z entering the market. Nearly half of RV owners now fall in the 35–54 age bracketrvia.org, and 22% of RV owners are between 18–34 years oldrvia.org – a notable shift as younger families embrace the RV lifestyle. This influx of younger owners, including more diverse ethnic backgrounds, means future demand for storage will extend beyond the traditional retiree segment.

In terms of income levels, RV and boat owners generally have above-average incomes and the means to afford large discretionary assets. The median household income of RV owners is around $62,000, and many are solidly in the middle or upper-middle class. A significant portion (approximately 39% of RV owners) have children under 18 at home, indicating that family camping/boating is a major use case. On the other end, there is also a subset of high-net-worth individuals with luxury motorhomes or yachts worth hundreds of thousands of dollars – these clients will demand premium storage accommodations. For storage developers, this means offering tiered options: some customers seek budget-friendly outdoor parking, while others will pay top dollar for climate protection and security. What they have in common is a desire to protect their investment; an RV or boat often represents a significant emotional and financial asset. Owners are typically very motivated to maintain their vehicles and will value features like covered parking, security systems, and maintenance services if available.

Geographically, RV and boat ownership is highest in regions with space and outdoor culture. The Great Plains, Mountain West, and Upper Midwest have the highest RV ownership rates by percentage of households (in some states nearly 1 in 10 households owns an RV). For example, rural Western states and places like Montana or Wyoming have high per-capita RV usage, as do parts of the Midwest. The South and Northeast traditionally had lower penetration, though these regions are catching up post-pandemic as remote work and camping interest spread nationally. Boat ownership skews toward areas with abundant waterways: coastal states (Florida, California) and lake-heavy states (Minnesota, Michigan, the Carolinas) have the greatest number of boat owners. Minnesota notably leads in per capita boat ownership (on the order of 14% of residents owning a boat), far above larger states For a storage facility, this implies that market demand will be very localized – a project in Minneapolis or Tampa will likely see strong boat storage demand, whereas an inland desert location might be 100% RV storage. It’s crucial to study the local ownership patterns: How many RVs/boats are registered in the county? What is the growth trend? Are there seasonal residents (snowbirds) who bring boats/RVs? These factors determine the needed unit mix.

One consistent pattern is that owners need storage for long stretches. RVs and boats spend most of the year not in use (with the exception of full-time RV dwellers, who are a small minority). This means customers will rent storage year-round, often continuously for years, making them generally stable, long-term tenants. In fact, many RV/boat owners treat storage as a necessary ownership cost, much like insurance. They may use their vehicle on weekends or a few months of the year, but during off-season (e.g. winter for boats, or the school year for some RV families) they rely on a secure facility. This dynamic leads to high occupancy and low turnover relative to self-storage. It also influences facility design preferences – for instance, snowbelt customers might insist on indoor or fully covered storage to weather the winter, whereas Sunbelt customers might be satisfied with just a canopy to keep sun and rain off. In summary, the target demographic for RV/boat storage is predominantly middle-aged, financially stable homeowners (often with families or retirees), and this base is expanding to include younger adventurers. They all share the need to protect their recreational investments, which drives demand for quality storage solutions across U.S. regions.

Facility Design & Unit Mix Best Practices

Designing an optimal RV and boat storage facility requires balancing cost, capacity, and customer preferences. Unlike standard self-storage, these properties must accommodate extraordinarily large vehicles and thus demand careful planning of unit mix, dimensions, and on-site circulation. Below, we outline key design considerations – from the mix of open vs. covered spaces to layout and security features – based on industry best practices and MMCG’s RV & Boat feasibility studies.

Modern RV storage facilities often feature covered (canopy) parking bays to shield vehicles from sun and rain while maintaining open drive-through layouts. As shown above, canopy structures provide a roof over each stall, offering a middle-ground option between open lots and fully enclosed units.

Storage Types & Unit Mix: A critical decision is what ratio of open, covered, and enclosed storage to provide. Each format has a role in the product mix: open-air parking is cheapest to build, canopy (roof-only) structures offer moderate protection, and fully enclosed units offer maximum protection at higher cost. Most new developments opt for a blend of all three to serve different customer segments. For example, a project might plan roughly 50% open lot spaces, 30–40% canopy-covered spaces, and 10–20% fully enclosed “garage” units. In warmer climates or more cost-sensitive markets, the majority may be open or canopy spaces, since many customers are content with basic weather protection for a lower price. In harsher climates, the mix shifts toward enclosed units (e.g. in snowy northern states, canopies are less common – many customers either want full indoor storage or will accept uncovered storage and winterize their vehicles). Open lot storage is essentially a secure parking lot: painted stalls on asphalt or gravel with no roof. This is the simplest option and maximizes space usage (~50–70 RVs per acre can fit), but offers no protection from sun, rain or snow. Notably, many municipalities today discourage pure open RV lots as unsightly “parking farms”, so developers tend to include at least some structures. Canopy storage (roof-only covers) is now a common baseline for modern facilities Canopies protect from UV, rain, and hail, greatly preserving vehicles’ exteriors, and they strike a balance between cost and benefit. They do leave the sides open, so vehicles are still exposed to humidity, dust, and potential theft unless other security is in place. Enhanced versions include three-sided canopies, which add back and side walls for more weather blockage (popular in areas with wind-driven rain or snow). Lastly, fully enclosed units are the premium offering – essentially private lockable garages for RVs or boats. These units command the highest rents but also cost the most to build. A well-planned facility might start by building a limited number of enclosed units (say 20% of the total) to gauge demand, since not every market can fill dozens of high-end RV garages. As one expert advises, it’s wise to initially construct perhaps 70–80% of enclosed units in mid-size formats (suitable for Class B/C motorhomes, trailers, and smaller boats) and 20–30% as extra-large units for Class A coaches or big offshore boats. This prevents over-building too many giant units which rent for less per square foot. The mix can then be adjusted in later phases based on which sizes lease up fastest.

Unit Dimensions: Sizing the storage spaces to fit various vehicles is crucial. RVs and boats vary from 20-foot trailers to 45+ foot bus-style motorhomes. Standard unit widths are typically 12 feet minimum, with many newer facilities opting for 14–15 ft wide bays to allow room for slide-outs and vehicle mirrors. Length/depth of units commonly ranges from 30 feet up to 50 feet. A popular enclosed unit size, for example, is 14 ft x 40 ft, which can handle most towable RVs and moderate motorhomes. The largest Class A motorhomes or big boats may require 45–50 ft of depth, and facilities targeting that market will include some 50’ deep unitsi. Heights are another factor – RVs can be 12–13 feet tall. Thus, enclosed units are built with high clearances (often a 16+ ft eve height) and roll-up doors around 12-14 ft tall to accommodate the biggest rigsi. Canopy structures similarly must have adequate clearance (typically metal canopies are built 14–16 ft high). It’s wise to design a variety of lengths – e.g. some 30’, 35’, 40’, 45’ spaces – to avoid turning away customers. The majority of demand tends to be for mid-size units (30–40 ft) since they fit common travel trailers and fifth-wheels, whereas only a minority of owners have 45+ ft coaches. Oversizing every unit would waste space and reduce income per square foot, so a graduated mix is ideal. Additionally, consider extra space for trailer hitches, boat trailers, and accessories. Many owners appreciate a bit of extra room to store gear (e.g. coolers, fishing equipment) alongside the vehicle, or to maneuver around it when prepping for a trip. Designing some units with a “double-width” or an L-shape for ancillary storage can be a unique selling point for premium customers.

Site Layout & Maneuverability: RVs and boats require a much more generous site layout than standard cars or self-storage units. Key design rules include wide drive aisles, ample turning radii, and avoidance of tight corners. For perpendicular (90-degree) parking layouts, industry guidelines call for 50 to 60-foot wide drive aisles to allow large trailers to back in comfortably. Even with angled parking (e.g. 60-degree slant slots), you still need ~35+ ft aisles at minimum. Essentially, the space between rows of units must accommodate the swing of a long RV and tow vehicle – this can be roughly double the aisle width of a normal self-storage facility. In practice, many facilities use one-way angled layouts to ease traffic flow: e.g. 60-degree angled stalls with a 35–40 ft aisle can let drivers pull in and out more easily than a 90-degree back-in. Providing pull-through capability is highly recommended where possible. This could mean designing some drive-through units (with doors at both ends so an RV can enter from one side and exit out the other) or simply having a loop road on the property so that trailers never have to make a tight U-turn. A common strategy is to have multiple exit gates or a large turnaround area at the back of the lot for those who need to circle around. The layout should allow smooth flow such that even a novice driver can navigate without anxiety – if the site is a maze or requires difficult backing maneuvers, customers will go elsewhere (and risk of accidents increases). In short, designing with generous space is not wasted in RV storage; it is essential for safety and customer satisfaction.

Fully enclosed, garage-style units offer the highest level of protection and privacy. These premium units are typically 14–16 feet wide with 45+ foot depth and large roll-up doors, accommodating even Class A motorhomes. Such units cater to owners willing to pay top-tier rates for full weatherproofing and security.

Security and Amenities: Given the high value of boats and RVs (often ranging from $50,000 to $500,000+), security is a top priority in facility design. At minimum, a site should be fully enclosed by perimeter fencing or walls (masonry walls or vinyl fencing can improve aesthetics compared to chain-link). Automated gated entry with keypad or card access is standard; ideally with individual PIN codes so entry/exit is logged. Many facilities install 24/7 camera surveillance covering all drive aisles and entry points. It’s wise to include cameras that capture vehicle license plates and to position keypad entry pedestals at dual heights (so both car drivers and someone sitting high in an RV can reach easily). Lighting is another critical element – bright, uniform LED lighting deters theft and allows customers to access in early morning or late evening safely. (Modern sites also comply with “dark sky” ordinances by using downcast shielded lights to avoid light pollution.) Some high-end facilities even offer on-site security personnel or resident managers for added oversight. Beyond security, value-added amenities can differentiate a facility. Common offerings include: electric outlets at stalls (so customers can trickle-charge batteries or power onboard systems), a dump station for RV waste tanks, a wash bay for cleaning vehicles, and compressed air/water stations. Higher-end developments might feature a lounge or clubhouse, potable RV water fill stations, propane refill services, or even concierge maintenance (e.g. staff who can move your RV out of storage and prep it for your trip for an extra fee). These extras can create additional revenue streams and foster customer loyalty. However, every added feature comes with cost, so the feasibility study should gauge which amenities the local customer base will support. For many markets, offering the basics – a secure, accessible, and weather-protected space – at a competitive price is the key formula, whereas ultra-luxury touches make sense in only the most affluent markets.

In designing the facility, weather protection considerations must also be factored into construction. If located in hurricane-prone regions, structures should be engineered to high wind loads. In snowy regions, canopies need to handle snow loads or have a maintenance plan for snow removal to prevent collapse. Drainage is important for open lots to avoid pooling water around tires. Some enclosed buildings in cold climates provide minimal heating to prevent winter moisture issues (or at least allow customers access to winterize their boats/RVs onsite). Overall, the goal is to give each customer peace of mind that their vehicle is safe from theft, vandalism, and the elements when stored. By thoughtfully mixing unit types and incorporating smart layout and security design, developers can create facilities that meet a wide range of needs while operating efficiently. MMCG’s experience is that investing in a quality design upfront pays off in higher occupancy and the ability to charge premium rents, especially given that demand still exceeds supply in many regions.

Expert Commentary and Conclusion

Entering the RV and boat storage sector presents a compelling opportunity for developers, investors, and lenders – but success lies in meticulous planning and execution. As our feasibility analysis shows, market fundamentals are strong: there is a large and growing installed base of vehicles, consumer lifestyles continue to favor outdoor recreation, and existing storage supply has lagged, keeping occupancy and rents resilient Even with RV/boat sales normalizing from the pandemic spike, the sheer volume of units now in circulation (millions of which did not exist a decade ago) ensures a deep customer pool. Many facilities across the country remain near full, and new projects can lease up quickly if sited and designed well. In fact, nearly 800 new dedicated RV/boat storage properties came online since 2020 (the total count grew from about 800 to 1,798 facilities between 2023 and 2025), yet many regions are still undersupplied. This bodes well for continued development – but it also means competition will slowly increase, putting a premium on savvy site selection and differentiation.

From MMCG’s perspective, the best practices for feasibility in this sector include: thorough market analysis (study local RV/boat registration trends, existing competitor occupancy, and even seasonal population swings to accurately forecast demand), engaging community stakeholders early (proactively address any zoning or neighbor concerns, highlighting that a well-kept storage facility can actually reduce neighborhood clutter and serve local needs); and phased development. We often advise clients to build in phases – for example, start with a first phase of core infrastructure and maybe 50% of planned capacity, then expand as occupancy grows. This phased approach manages risk and allows fine-tuning of the unit mix. It also aligns with financing milestones and lease-up rates, ensuring the project’s cash flow stays healthy.

Another key recommendation is to differentiate the product offering according to your market. In an upscale suburban area, that might mean offering a higher proportion of enclosed units and white-glove amenities (and pricing accordingly). In a rural or middle-market area, focus on cost-effective covered storage and perhaps DIY amenities (like a simple wash pad) to keep rates affordable. Always consider the “mom-and-pop factor”: many existing RV storage lots are older, bare-bones operations. A new facility that emphasizes security, cleanliness, and customer service can quickly capture demand from dissatisfied customers of aging competitors. Features like online reservations/billing, valet parking services, or even minor conveniences (free air pump, RV supplies for sale) can go a long way with this clientele, who often have an emotional attachment to their vehicles.

From an investor/lender standpoint, RV and boat storage can offer attractive returns, but one should underwrite conservatively. Construction costs for covered or enclosed storage are higher per square foot than regular self-storage, and lease-up may take 12–24 months to reach stabilized occupancy depending on market awareness. However, the asset class has shown resilience – rental rates nationally have held fairly steady even as traditional self-storage saw declines. Furthermore, customer stickiness is high; boat/RV owners, once they find a convenient storage home, tend to stay for years (vehicles often remain stored 6+ months at a time). Delinquency rates are low because these renters have a lot to lose by defaulting (the facility can lien and auction a $100k RV). Lenders should note that while this is a niche sector, it’s maturing fast with more institutional players and even REIT interest. Cap rates historically have been slightly higher than regular self-storage (reflecting the niche risk), but the gap may shrink as the sector proves its performance. Recent sales achieved strong pricing – e.g. the record year 2022 saw $556 million in RV/boat facility sales volume– though the transaction pace slowed in 2023–24 as interest rates rose.

Looking ahead, MMCG remains optimistic about the market outlook for RV and boat storage. Demographic and cultural trends (from retirees traveling the country to younger families taking up camping and boating) support long-term demand. The pipeline of new facilities, while growing, is still modest relative to need – Yardi Matrix tracked only 52 projects under construction nationwide in mid-2024 which is a drop from prior years and suggests no risk of overbuilding in the near term. There is particular opportunity in underserved secondary markets and recreation-heavy regions where RV/boat ownership is high but quality storage options are few. For example, smaller cities near popular lakes or parks in the Midwest/South may have pent-up demand for a modern facility. Developers who can navigate land and permitting challenges in those areas may find a lucrative niche.

In conclusion, RV and boat storage development can be a highly feasible and profitable venture when approached with rigorous analysis and strategic execution. By selecting the right location (balancing population, income, and recreation factors), designing the facility to meet market needs (with an optimal mix of storage types and user-friendly layout), and adhering to best practices in security and operations, investors can create enduring value. As a consulting firm, MMCG stresses diligence at every step – from confirming demand drivers to project budgeting and phasing – to ensure that each project not only pencils out on paper but also achieves long-term success. The overall market outlook is positive: Americans’ love of RVing and boating shows no sign of abating, and with it comes the consistent need for secure storage. In a fragmented industry ripe for modernized facilities, developers following feasibility best practices can capitalize on this demand while delivering a service that fellow outdoor enthusiasts greatly appreciate. The road ahead for RV/boat storage is bright, and with informed planning, it offers a rewarding journey for stakeholders.

May 28, 2025, by Michal Mohelsky, J.D., principal of MMCG Invest, LLC, RV & Boat storage feasibility study consultant

Sources: National Marine Manufacturers Association (boat registration statistics); RV Industry Association and Statistical Surveys Inc. (RV sales and ownership data); Yardi Matrix and Toy Storage Nation (RV/boat storage market reports); Inside Self-Storage and industry white papers (design and development guidelines); Matthews REIS and Mini-Storage Messenger (market research and expert commentary)