Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Butler Boat & RV, a newly constructed, institutional-quality boat and RV parking facility located in York, South Carolina, just minutes from Lake Wylie—one of the most active recreational lakes in the Carolinas. Delivered in 2025, the property consists of 359 parking spaces across approximately 140,000 square feet of parking space and sits on over 12 acres, offering a well-designed layout with excellent accessibility and maneuverability for large vehicles. The asset represents a compelling lease-up opportunity with significant upside through continued occupancy growth and revenue optimization. The property is currently approximately 40.9% occupied, allowing a new owner to capitalize on increasing demand for boat and RV storage in the market. As the asset stabilizes, projections indicate the ability to achieve approximately $398,000 in NOI by year two, representing an estimated 8.6% cap rate on the current asking price. Strategically positioned near Lake Wylie, the property benefits from strong demand drivers including direct access to multiple marinas and boat ramps, as well as a growing base of high-income households. The surrounding area boasts average household incomes exceeding $140,000 and is projected to grow approximately 8% over the next five years, supporting long-term demand for recreational storage. The competitive landscape further enhances the investment profile, as Butler Boat & RV is the only purpose-built boat and RV storage facility in the immediate market. Competing properties offer only limited parking inventory with inferior layouts, creating a strong positioning advantage for the subject property and allowing for continued rate growth as the asset matures. Additionally, the investment presents meaningful operational upside through the implementation of professional management practices. A more experienced operator can drive performance through dynamic pricing strategies, optimized discounting, and improved marketing efforts, accelerating lease-up and maximizing revenue. Combined with favorable market fundamentals, including continued residential development and limited new supply, Butler Boat & RV offers investors the opportunity to acquire a high-growth asset with both near-term upside and long-term stability.