How does outdoor storage & outdoor covered storage appraise

[Brandon Jack Reneau]

Hello BP,

I'm working on getting a boat/RV storage facility built. When it comes to refinancing will the parking spaces/covered spaces income be considered in the appraisal value when it's time to refinance? Is there a good way to develop one of these facilities and get the most bang for your buck when you refinance? 

[Brad S.]

Hey @Brandon Jack Reneau, I'm not 100% clear on what you're asking or doing.

Is this a commercial property you are developing into a boat/RV storage yard? ..or is this a sfr you are building a boat/rv storage garage?

My guess is you are talking about a residential property. If that is the case, most likely your boat/RV storage facility will considered an over-improvement, unless that is a common amenity in the area. And as an over-improvement, it typically has an only incremental positive affect on value and appeal, if any. For residential property, income is not typically not a significant factor in the valuation, since residential properties are typically purchased for owner use, not for income producing potential. But, again, I am unsure of exactly what the situation is.