Boat/RV Storage: Site Selection, Design and More

Fifty years ago, nobody knew the self-storage industry would skyrocket the way it has; but it’s grown to become a multi-billion-dollar enterprise. Could the same happen for the related but unique boat/RV-storage business? Experts involved in this niche believe yes … Yes, it could.

Here’s why, according to Baja Carports, which supplies and installs standard and solar carports as well as covered boat/RV-storage canopies nationwide:

Less competition. When big self-storage brands like Public Storage Inc. or U-Haul International open a location next to an independently owned facility, it drives down the little guy’s profit. However, very few companies have accumulated multiple boat/RV-storage facilities, leaving plenty of room for entry-level developers to make their mark.

Long-term rentals. In some areas of the country, people are on a waiting list for a boat/RV storage unit. Once they get in, they rarely leave. If that vehicle is sold, they usually replace it with a newer model and retain the space. Even if they do sell outright, the new buyer likely needs that unit anyway.

Fewer delinquencies. Buyers of boats and RVs invest heavily in these “toys” and will pay higher rental fees to protect and maintain them. Unlike self-storage customers, they rarely default on payments, which means minimal auctions and evictions.

Lower construction costs. Self-storage buildings require massive amounts of expensive steel. Boat/RV facilities require much less, meaning they cost roughly half as much to build.

Lower insurance costs. Most boat/RV-storage structures are tall, open-air canopies rather than fully enclosed buildings. As a result, the operator’s insurance costs are lower than with traditional self-storage buildings.

Renewable-energy income. Boat/RV-storage canopies are ideal for solar-panel installations that benefit the environment and generate profit when power is sold back to the local utility.

A Pressing Need and Big Potential

The most important reason to enter the boat/RV-storage business is the pressing need. According to research by Toy Storage Nation (TSN), an organization providing education on all aspects of the industry, the nation requires five times the current supply of space to meet demand. Nearly 25 million households own a boat or RV, yet there’s fewer than 2,000 facilities in which to store them.

Also, consider the number of residential communities being developed nationwide. Many are governed by homeowners’ associations that restrict the storage of oversized vehicles in backyards and driveways.

“All data indicates that RV and boat storage is where self-storage was 25 to 30 years ago,” says TSN Founder Troy Bix. “That means there’s abundant opportunities for entrepreneurs to profit in toy storage just like they have in self-storage, which has grown into a multi-billion-dollar industry.”

“[Boat/RV storage] is a mom- and pop-driven industry, and there’s a lot of room for new entrants to play—for the time being,” says Devin Beasley, executive director of the recreational properties advisors team for commercial real estate firm Cushman & Wakefield. “When you look at the number of RVs and boats being shipped and the number of storage spaces being developed, we are far underserved.”

Predictions for continued high growth in boat/RV storage are confirmed by commercial real estate data and research firm Yardi Matrix, which revealed fewer than 70 recreational-vehicle and boat-storage developments were underway in 2025. “And yet, if you do the math, we probably need at least 50 projects developed monthly to meet demand,” Bix adds.

Choosing a Site for Boat/RV Storage

As with any type of real estate investment, location is critical for the success of a boat/RV-storage business. Yet, developers and owners can face many roadblocks when searching for suitable sites.

First, these projects are primarily limited to industrial-park zones, according to BETCO Inc., a manufacturer of self-storage buildings. Often, a parcel only permits a single building, and that building can’t be within 150 feet of wetlands. Finally, drainage detention is often required, which eats up a lot of valuable land.

“To reach a viable [return on assets], developers need a location typically between 7 and 10 acres, with buildable coverage of approximately 35% to 40% per acre,” says Sarah Swingler, business development manager for MakoRabco, which designs, supplies and installs buildings for boat/RV storage and self-storage. “Balancing land costs with potential future revenue is key to an economically viable business venture.”

Boat/RV-storage projects need more land than self-storage to house bigger units, which can be as large as 12 feet wide and 60 feet deep. Drive lanes are much wider as well, typically 45 feet. Turning areas must be larger to accommodate big rigs.

To ensure the viability of a potential boat/RV-storage site, a feasibility study is imperative. It’ll provide a wealth of essential data to support the outcome.

“Demographics serve as the basis for supply-and-demand analysis for [boat/RV] storage,” explains Jo Beth White, owner of Development Services Inc., which provides consulting and feasibility analysis in the assisted-living and self-storage industries. “Per the RV Industry Association, most RV owners have a household income of $62,000 and higher.”

In other words, the more disposable income in an area, the better your chances for a successful boat/RV-storage project, particularly if there’s a dearth of competition in the area.

Self-storage development has historically been centered around urban areas, but boat/RV facilities work best outside of major metropolitan areas, with highway access to a route for a recreational area, such as a waterway or national park.

Boat/RV Storage Design and Construction

Design is critical to any real estate project. In the boat/RV-storage industry, facilities can range from open parking lots to premium sites offering condo-style units. Consequently, building costs vary widely.

“While these are ballpark numbers for construction, costs can vary greatly from region to region, with weather and seismic considerations to keep in mind,” Swingler says. “Hurricane winds and heavy snow loads will impact design and material as well as costs, too.”

Let’s look at the different types of boat/RV storage in more detail:

Open parking. This is the least expensive to develop, but it offers minimal protection from the elements and criminal activity. It’s becoming less popular as time goes on.

Standard canopy storage. This consists of a roof with open sides, offering basic coverage from the elements. Structural costs average $9 to more than $14 per square foot. Turnkey costs are at least $36 per square foot.

Three-sided canopies. These offer additional coverage, with side and end walls. They cost $3 to $5 more per structural square foot than standard canopies.

Fully enclosed units. These premium spaces function as private garages while offering maximum environmental protection and security. They run at least $56 per square foot to build, including door packages.

Condo-style storage. This high-end option comes equipped with amenities such as climate control, electricity and wash bays. These units may be rented monthly or purchased outright by tenants, often to create man caves. They top the charts at more than $72 per square foot to build.

Enterprising developers focused on stable, long-term return on investment aim to build a class-A boat/RV facility. This means it includes covered units (fully enclosed or canopied), fully paved surfaces, perimeter fencing and advanced access-control technologies.

Self-storage operators with room for expansion are adding boat/RV storage to their existing properties, which allows them to capitalize on this high-demand, generous-yield niche. Some offer outdoor vehicle storage to start but often gravitate toward covered options to retain tenants. Some even acquire an entirely new parcel for this purpose.

Eye on the Horizon

If you’re interested in tapping the potential of the extremely promising boat/RV-storage industry, learn as much about the business as you can before committing to a development. Get advice from facility operators who have paved the way and learned from their mistakes.

The window of opportunity for savvy developers, investors and owners is wide open, and boat/RV-storage is well-positioned for sustainable growth. Will it reach the same level of success as the self-storage industry? Time will tell. Those who get in on the adventure now may reap the rewards for decades to come, much like their self-storage predecessors.

Drew Whitney has decades of storage experience and is the content curator for Toy Storage Nation, a media brand designed to educate RV and boat storage developers, owners, operators and investors through its website, membership program and quarterly workshops. To contact her, email [email protected].

About the Author

Drew Whitney

Editorial Director, Toy Storage Nation

As a former editor of Inside Self-Storage, Drew Whitney has 30-year history in the self-storage industry. She’s the editorial director of Toy Storage Nation, providing educational resources and professional networking opportunities for RV- and boat-storage developers and operators. For more information, call 602-909-3910.

See more from Drew Whitney

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