Investment Overview

Rockport Boat & RV Storage Portfolio is two Boat & RV storage facilities located across the street from one another in Rockport, TX, which is approximately 30 miles north of Corpus Christi. The properties sit on a combined +/- 6.79 acres of land and have five single-story buildings consisting of 240 total units and a combined 86,650 NRSF. There are 28 outdoor parking spaces included in the unit mix. The facilities have numerous amenities including but not limited to video surveillance, gated entrys with digital keycode access, roll-up doors, concrete driveways, a full-service on-site manager’s office, and a wash station. Rockport Boat & RV Storage Portfolio sits near the corner of FM 1781 and FM 3036 which are thoroughfares connecting the northwest area of the city and Copano Bay to the heart of town. The property provides a convenient location for customers coming from throughout Aransas County with nearly 5,000 vehicles passing the facility daily. Additionally, many tenants live outside of Rockport but have a second home in the city and utilize the storage facility rather than hauling their boats from their home cities to the coast. Rockport is a major tourist destination and known for its bountiful fishing, bird watching and art. Its accolades are numerous. USA Today ranks Rockport as the #3 best small coastal town in America and Texas Highways Magazine ranks Rockport as the #6 top travel destination in Texas. Aside from tourism, Rockport is the county seat of Aransas County and the beneficiary of an economic boom throughout Coastal Bend with approximately $54 billion dollars being invested in the area by various companies over the last 10 years. The Seller purchased the property in the early 2000’s, but after they were damaged by Hurricane Harvey in 2017, he completely redeveloped the assets between 2018 and 2019. The property achieved stabilization within six months and has stayed 99 percent occupied with a lengthy waiting list ever since. It appears as if rental rates could be increased dramatically as the competing properties in the trade area are also equally physically occupied and command similar rental rates. In addition to implementing revenue management and creating ancillary revenue streams, there is well over an acre of concrete that could be used for expansion that is included in this offering. Additionally, the buildings and the roofs are windstorm certified. The Seller is in his 80’s and is looking to retire giving an investor a high quality, highly occupied, recently constructed asset with expansion potential in a growing area that’s also one of the most popular tourist destinations in Texas. As of January 2024, physical occupancy is over 99 percent.