5 Things to Consider Before Selling Your Storage or RV Property

Selling a storage facility or RV property is one of the most significant financial decisions an owner can make. Whether you’ve managed the business for decades or recently acquired it, the process of selling requires careful thought. The right preparation can lead to a smooth transaction and maximize your returns, while overlooking key details can leave money on the table. Below are five critical factors to consider before putting your property on the market.

1. Understanding the True Value of Your Property

The first step before selling is determining what your property is really worth. Owners often focus on the number of units or acres, but buyers evaluate assets based on income performance. Net Operating Income (NOI), occupancy rates, and operating expenses all play a major role in valuation. A facility with consistent cash flow and strong financial records will attract better offers.

Consider having a professional valuation or broker opinion of value completed. This not only clarifies what your property might sell for but also helps set realistic expectations. Remember, even small changes in NOI can dramatically affect sale price because of how commercial properties are appraised using capitalization rates.

2. Timing the Market

Market conditions can heavily influence how much you receive for your storage or RV property. High demand, low interest rates, and growth in your region can all push values upward. On the other hand, waiting too long in a softening market can reduce offers significantly.

Keep an eye on industry trends. Self-storage and RV parks have seen strong investor demand in recent years, particularly in growing suburban and Sun Belt markets. Selling during a period of heightened interest can make your property more attractive and result in more competitive bids.

3. Preparing Your Financials and Records

Buyers will want detailed financial records before making an offer. Accurate profit-and-loss statements, rent rolls, tax returns, and expense reports build confidence. Inconsistent or incomplete records can slow the process or even reduce the number of interested buyers.

Before listing, work with your accountant or property manager to ensure all documentation is up to date and organized. Transparency helps eliminate uncertainty and can speed up due diligence once a buyer is identified.

4. Choosing the Right Buyer

Not all buyers are the same. Some are local investors seeking smaller facilities, while others are large operators looking to expand into your market. Direct buyers, like professional real estate firms, often offer speed and certainty, closing without the lengthy broker-driven process.

Evaluate what matters most to you: Is it selling quickly? Maximizing price? Ensuring your property is in good hands after the sale? Understanding these priorities will help you choose the buyer who best fits your goals.

5. Considering the Tax Implications

One area owners often overlook is how the sale will affect their taxes. The proceeds from selling a storage or RV property may trigger capital gains taxes, depreciation recapture, and other obligations. Depending on your circumstances, options such as a 1031 exchange may help defer taxes by reinvesting in another property.

Consult with a tax advisor before making final decisions. Knowing what you’ll keep after taxes ensures you walk away with a clear understanding of your financial outcome.

Bringing It All Together

Selling a storage facility or RV property is more than just finding a buyer. It’s about timing, preparation, and strategy. By understanding your property’s value, aligning with the right market conditions, preparing financial records, choosing the right buyer, and planning for tax implications, you can set yourself up for a successful and profitable sale.

At Great Lakes Land Holdings, we specialize in acquiring storage and RV assets directly from owners, providing fair valuations and smooth closings. If you’re considering selling your property, we can help you navigate the process with confidence.

Ready to explore your options? Contact our acquisitions team today to discuss how we can provide certainty and value in your sale.