Maximum RV Storage Lake Mead: Las Vegas
Located centrally on the main road to Lake Mead, this 8.34 acre facility has covered and uncovered storage space for over 550 vehicles. Maximum RV Storage accommodates vehicles of all sizes and has spaces ranging in size from 20 to 60 feet. The facility is centrally located with easy access to McCarran International Airport, downtown Las Vegas and the Lake Mead recreation area, attracting customers from around the US and internationally.
The facility is fully stabilized with occupancies of 88% in low season up to 96% during peak season. Upon purchasing the facility in 2016, the Maximum Storage team rebranded and invested in marketing, new software and security and introduced new management systems. uHaul trucks were added to the service offerings. Net Operating Incomes have grown over 120% and the value of the facility has more than doubled.
The facility was purchased with debt from private finance. The increase in value enabled the facility to be refinanced with a long-term bank loan. The investors were paid back in full within 3 years and now enjoy healthy dividends from profit sharing and will share in the capital gains upon sale of the facility.
Maximum Storage RV & Self Storage: Colorado Springs
Located on the Eastern side of Colorado Springs, this 5.3 acre RV and self storage facility was built to take advantage of the explosion of population growth and development occurring in this part of the city. Maximum RV and Self Storage boasts 269 units in total, composed of 110 fully enclosed RV units and 159 oversized self storage units. The facility caters to RV owners, small businesses and residential customers including military personnel.
The facility opened in 2018 and leased up in record time, despite the complications of Covid-19 due to a combination of effective digital marketing and strong management. Net Operating Incomes continue to grow as prices are raised and demand increases. The facility has a 5 star rating on Google with over 50 reviews.
The facility was developed using SBA financing and equity investment. The growth in NOI and facility value have enabled the Maximum Storage team to further stabilize the facility through refinancing into a long-term conventional loan.
