Introduction: When considering the construction of an RV storage facility, one of the primary factors that demands attention is the cost. Determining the financial investment required to build such a facility is crucial for planning and assessing the feasibility of the project. In this comprehensive article, we delve into the various cost considerations associated with constructing an RV storage facility. From land acquisition to construction expenses, storage unit amenities to ongoing maintenance, we explore the financial aspects that play a pivotal role in successfully bringing an RV storage facility to life.
Land Acquisition:
The cost of acquiring land for an RV storage facility can vary widely. On average, expect prices to range from about $2 to $5 per square foot for development to pencil out. Obviously the cost of land depending on location, accessibility, and local real estate market conditions. Furthermore, higher RV storage rates will justify higher land acquisition costs.
It is also worth noting that when we speak of this costs we are speaking of $/SF in terms of gross SF. The actual RV storage facility can’t occupy the entire site due to things like right of way dedication, landscaping buffers, the need to provide storm drain ponds, etc.
Design Costs:
Design costs are an essential aspect of building an RV storage facility. Hiring an architect or design professional to create a functional and aesthetically pleasing facility can cost about $100,000 for a basic design. These costs include conceptual design, blueprints, engineering plans, permitting applications, and any necessary revisions to ensure compliance with local regulations and optimize the facility’s layout for maximum efficiency.
When considering design costs I recommend allocating at least $15,000 for geotechnical engineering. This will include minimal site investigations, determining soil stripping depths and surfacing recommendations.
Diligence Costs:
A basic feasibility study will costs around $10,000. A basic Phase I Environmental Site Assessments costs around $3,000. A property survey can cost around $5,000, depending on the size of the lot and the amount of vegetation. In some cases it may be necessary to do some clearing to facilitate a land survey.
Permitting Costs:
I’ve spent over $50,000 in permitting fees for a facility that is simply a parking lot with no utilities. Permitting costs will depend greatly on the type of facility and on what permitting agency is involved. When developing in any city in California you’ll spend significantly more time and money than when developing in rural Montana.
To estimate permitting costs it is advisable to contact the permitting agencies to inquire about the process, schedule fees, and permitting durations.
Construction and Infrastructure:
The cost of building an RV storage facility will depend on the type of RV storage facility. A basic outdoor storage facility with asphalt paving, security fencing, a stormwater pond, etc can cost about $400,000 per acre to develop.
Adding steel structures for covered RV storage can cost around $35 per square foot. When developing enclosed RV storage costs can be upwards of $50 per square foot. The biggest factor to keep in mind when building steel structures is the volatility associated with steel prices. For properly estimating steel costs it is best to speak directly with steel suppliers in the industry, such as the guys at Makosteel.com
Conclusion – Cost to Build an RV Storage Facility
So, how much does it cost to build an RV storage facility? The all in costs to build a paved open storage facility with a stormwater pond, security fencing, etc , can range from about $400,000 to $500,000 per acre. That figure does not include land costs.
In conclusion, building an RV storage facility entails a range of costs that must be carefully assessed and considered. From land acquisition to construction, storage units, site preparation, landscaping, and ongoing maintenance, every aspect demands financial planning and budgeting. Understanding the cost implications allows for realistic expectations and better decision-making throughout the process. By comprehensively analyzing and accounting for the various cost factors, you can embark on the construction of an RV storage facility with confidence, ensuring its long-term success and profitability.