Situated outside of Tulsa, Oklahoma in a prime location, this premier luxury facility has been the RV storage facility of choice for many notable musicians and professional sports groups. CoachPort LLC promises long-term viability in a thriving market segment.
Highlights:
- 14.7% Target IRR
- Located in dynamic Tulsa suburb - Broken Arrow
- Strong barriers to entry
- Highly visible location
- Experienced local management
- The hottest property type in the storage industry
The property is situated in a prime demographic area of Tulsa and its southeast suburbs, with 88,103 residents within a 5-mile radius and an average household income of $91,890. Ideally located, the property offers convenient access via Creek Turnpike (9,539 vehicles per day), Broken Arrow Expressway (24,319 vehicles per day), and Muskogee Turnpike (38,127 vehicles per day), enabling quick reach for Tulsa residents.
This property boasts top-quality, fully-enclosed steel indoor RV storage, with large 12'x14' doors and deep 50' concrete slab parking bays for added ease. Each bay also includes 30 AMP electricity.
According to the RV Industry Association, RV ownership has increased 62% in the United States over the past 20 years. A significant portion of that growth has been buyers between the ages of 18 and 34, with the median age of a first-time RV buyer dropping to 33 in 2021 from 41 in 2020.
With the rise in the number of recreational vehicles on the roads, the necessity for adequate storage space has become increasingly apparent. Many RV owners find themselves unable to store their vehicles at home, either due to spatial constraints or because of local regulations imposed by municipalities or homeowners' associations.
The typical RV owner only uses their home on wheels about 20 to 25 days a year. That means owners need somewhere to store these large vehicles most of the time because many U.S. cities have ordinances on what can be stored in residential neighborhoods.
There are several advantages associated with RV storage facilities, including:
- Limited risk of market oversaturation: The demand for RV storage remains robust, and factors such as zoning restrictions limit the proliferation of new facilities, reducing the likelihood of oversaturation in the foreseeable future.
- Attractive customer demographics: RV owners typically belong to higher income brackets, making them more inclined to invest in premium amenities and services offered by storage facilities. This demographic profile also tends to result in lower instances of rental defaults, contributing to a stable revenue stream.
- Favorable cost structure and retention rates: RV storage operations generally entail lower overhead costs and experience minimal turnover compared to other forms of storage, resulting in potentially higher profitability and reduced administrative burdens for facility management.
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