Luxelocker Boat & RV Storage in Henderson, NV

[Adam Pakes]

Investment Info:

Boat and RV Storage investment in Henderson, NV.

Purchase price: $5,800,000
Cash invested: $1,800,000

Creating a Commercial Association to sub-divide and condo Boat and RV storage. 

What made you interested in investing in this type of deal?

There is a shortage of Boat and RV storage in the greater Las Vegas area. We provide the opportunity to own a storage UNIT at a fraction of the cost of developing an entire facility.

How did you find this deal and how did you negotiate it?

We have developed 156 units in our home town of Lake Havasu City, Arizona. We are completely sold and are seeking our next piece of land to develop.

How did you finance this deal?

Equity and Debt

How did you add value to the deal?

By establishing a Commercial Association, it allows us to create each unit as its own parcel. That allows the owner to have his/her own tax bill. The annual association dues cover electric, water, and CAM's. By selling the units, the owner has the option to occupy it himself/herself or rent it out for cashflow.

What was the outcome?

TBD. In construction process...

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

www.dustinrunyonteam.com