Bringing Best-in-Class Amenities to Central California
Known as “The Heart of the Delta” for its proximity to the confluence of California’s two mightiest rivers, the San Jaquin and the Sacramento, Rio Vista is now home to a luxury storage facility aptly named Rio Vista Executive RV & Boat Storage. The facility, offering outdoor enthusiasts best-in-class amenities for their prized possessions, recently welcomed community members to join a ribbon-cutting ceremony marking its grand opening.
Rio Vista Executive RV & Boat Storage is the dream child of a group of savvy investors who recognize prolific opportunities abound in this niche market known as the little darling of self-storage. In fact many believe the RV and boat storage sect is supremely positioned to explode much like self-storage did 25 to 30 years ago, especially if investor-developers find the perfect spot to capitalize on the dream.
As luck and smarts would have it, this group did. Rio Vista Executive RV & Boat Storage stretches across 10 acres (not including a 1.5-acre detention pond) of waterfront property overlooking the Sacramento River. It’s the place of dreams for RVers and boaters seeking adventure, as well as the investors who built the site, which boasts more than 500 units offering security along with convenience.
Class A and Beyond
Rio Vista Executive offers all four of the Class A standards for RV and boat storage, including 9 foot tall perimeter fencing, paved surfaces, security-gate access from Nokē and covered spaces. But that’s just the beginning. Customers will also appreciate knowing their oversized toys are protected by state-of-the-art high-definition security cameras with 24/7 monitoring.
The site also qualifies as Class A+ with the addition of Nokē Smart Entry by Janus, a Bluetooth electronic lock and total access-control system that allows customers to easily access the facility and their units from their smartphones. For customers, this means they no longer have to have their hands on a key or remember a gate code. For site operators, it means no longer having to replace lost keys, with the added benefit of collecting data for improved operations efficiency.
Rio Vista Executive tenants also enjoy the conveniences of free ice and propane filling. They also have free access to air to fill their tires, water machines and restrooms.
More than anything, they can pick up their RV or boat at a prime location that’s on the way to peaceful camping, boating excursions, fishing, birdwatching, hiking and exploring the many magnificent outdoor treasures at Humboldt Redwoods State Park, Lake Tahoe and numerous other elite spots of Northern California.
Developing the Perfect and Most Practical Site Possible
Picking the property for Rio Vista Executive came down to price and practicality. According to Chris Koenig, who, like his colleagues, brings a wealth of storage experience to the investment-partnership, the location offered a world of opportunity from an investment point of view and for outdoor enthusiasts alike.
“The zoning was favorable, the price was good and the location on the Sacramento River–near boating and RV locations–couldn’t be beat,” Koenig says.
Like any development project, there were a few challenges along the way, Koenig adds.
“The planning commission denied the project at first, so we had to appeal to the city council to get it approved.
“The city and residents initially wanted to see multifamily apartments or other type of development,” Koenig continues. “Sadly, RV and boat storage doesn’t create much sales tax, because it only adds one to two jobs to the community. Some cities like it because it helps reduce code enforcement from ticketing residents for illegally parking RVs and boats.”
In the end, the elevated standards of Rio Vista Executive RV & Boat Storage won approval. The project took approximately 18 months to complete, including breaks due to inclement rainy weather. The design incorporated Baja Carport canopies with solar panels to earn environmental favor while significantly offsetting operating costs.
“The canopies allow us to fetch a premium in rent, due to major demand for premium, covered RV and boat storage,” says Koenig. “Additionally, we are exporting to ‘the grid’ and selling 3MW solar to the local utility company, PG&E, for 20 years. This generates $300,000 a year in added revenue!”
“The solar and RV and boat storage is the perfect combination to take advantage of the inflation reduction act, which allows us to participate in the federal tax credits,” explains Bob Hayworth, owner of Baja Carports and Rio Vista investor. “On this project we were able to achieve 50% tax credit. This allows us–either our current partners or whoever buys our facility within the timeframe allotted–to reduce the cost of the project approximately $6.4 million, or it comes off the owners’ tax deductions.”
“Not to mention,” Hayworth adds, “that because we put solar on the canopies, everything that is solar (approximately 70% of the total project cost – equating to 12.6 million) is exempt from property tax!”
Ramping Up for the Future
Although by most standards Rio Vista is considered a sleepy, little town of just approximately 10,500 residents, the developers are banking on its access to major highways and proximity to Sacramento, which is less than 44 miles away, to drive the site’s success.
Industry research indicates that while self-storage tenants are usually drawn from a 3- to 5-mile radius, RV and boat storage owners will travel 50 miles or more to retrieve their toys, saving gas and the inconvenience of lugging them on a trailer through a city. Rio Vista is especially favorable because it’s on the way to so many camping and boating destinations.
At the time of the ribbon-cutting ceremony, the facility was 20% occupied, and with the help of Google Ads and direct mail, it’s leasing up steadily with approximately 15-20 units a month, Koenig says.
“We’re really excited about the project,” he adds. “The city and residents love the project now, and we’ve received great reviews from customers and several local chambers of commerce.”
The road ahead for Rio Vista Executive RV & Boat Storage looks bright, giving investors the reassurance they expected in this flourishing storage market. Adds Koenig, “Several of the owners are already pursuing other Class A RV and boat storage projects. It’s a really fun industry for developers who know what they’re doing.”
“I can personally say this is probably the best business model of RV and boat storage with solar that I’ve been exposed to in my 50-plus years of being in business,” concludes Hayworth.
“And because it’s executive RV and boat storage, our customer base is basically people with money who pay their bills on time and are happy to be storing their vehicles at our facility!”
Interested in learning more about RV and boat storage development, investing, owning, and operating? Toy Storage Nation’s next Executive RV and Boat Storage Workshop in St. Louis, June 7, will give you the headstart you need to achieve success. Learn more, register today.
