China Spring Boat & RV Storage
China Spring, TX
Asking price
Price not disclosed
Units
202
Cap rate
—
Price / unit
—
About this property
MODERN 2023 CONSTRUCTION // Newly built 94,080 NRSF boat & RV storage facility on 15.57 acres with three single-story buildings. 202 TOTAL UNITS, ALL covered parking space // Amenities include gated digital keypad entry, security lighting, surveillance cameras throughout, power in each space, and wide crushed rock drive aisles providing excellent turning radius. Located just minutes from lake waco // A major regional recreation destination that drives consistent boat and RV storage demand. Additionally, the surrounding households average $102,000+ in annual income, supporting long term utilization of premium storage. High visibility frontage ON china spring road // Over 6,000 vehicles per day provides strong exposure and drive by demand. Exciting REO acquisition that foreclosed IN late 2025 // At $12.76/NRSF the asset delivers an entry point at a substantial discount to stabilized value. Value ADD lease UP opportunity // The facility is currently 28 percent physically occupied (as of August 31, 2026), presenting meaningful upside through lease up and revenue management. The offering also includes approximately 9.34 acres of additional land, enabling future development or phased expansion. property summary China Spring Boat & RV Storage is a 202-unit, 94,080 net rentable square foot boat/RV storage facility located in China Spring, Texas which is about 10 miles west of Waco. All 202 units are covered parking spaces. The property sits on approximately 15.57 acres of land, was constructed in 2023 and has three single-story buildings. China Spring Boat & RV Storage has many amenities including a gated entry with a digital keypad, security lighting, surveillance cameras throughout the property and power in each space. Finished with crushed rock, the wide driveways and provide a convenient turning radius. China Spring Boat & RV Storage sits just minutes from Lake Waco which is a popular recreational area. The facility also benefits from annual household incomes that are over $102,000 and fronts on China Spring Road where over 6,000 vehicles pass by the property daily. China Spring Boat & RV Storage offers the opportunity to purchase a recently constructed property in a growing area at a purchase price that would be far below stabilized value. The facility was constructed in 2022 and was foreclosed on by the lender in late 2025 and is only 28 percent physically occupied as of August 31st, 2026. Furthermore, there are approximately 9.34 acres of expansion land included in the opportunity. Broker Information Dave Knobler Senior Managing Director Phone: 713.452.4293 Email: dknobler@marcusmillichap.com License: TX 606252 Mixson Staffel Director Phone: 713.452.4247 Email: mstaffel@marcusmillichap.com License: TX 748276 Charles "Chico" LeClaire Executive Managing Director Phone: 303.328.2025 Email: cleclaire@marcusmillichap.com License: CO EA00147681 Download Marketing Package " * " indicates required fields Name This field is for validation purposes and should be left unchanged. First Name * Last Name * Email * Phone * Title Company What is your role in the industry? * Principal Broker Other Confidentiality agreement this confidentiality agreement (“Agreement”) is made and agreed to by and between The LeClaire-Schlosser Group and Marcus & Millichap Real Estate Investment Services of Denver (“Broker”), exclusive listing broker for the Property, and “Buyer” regarding the property known as CHINA SPRING BOAT & RV STORAGE. The obligations of confidentiality undertaken pursuant to this Agreement shall survive the terms of the Broker’s listing agreement with the Owners. BUYER HAS REQUESTED information from Broker for the purpose of evaluating a possible acquisition of the Property. Much of the information to be provided is non-public, highly confidential and/or proprietary in nature (collectively “Information”) and is being disseminated only to those potential buyers who sign this agreement.
All details
Figures are transcribed from the source listing as published. “Source page last checked” is when our crawler last fetched that page — it is not a check of the financials and not confirmation from the broker.
| Asking price | Price not disclosed |
|---|---|
| Units | 202 |
| Building size | 94,080 sq ft |
| Address | 14037 China Spring Road |
| First seen by UnitListed | Sep 10, 2026 |
| Source page last checked | Oct 26, 2026 |
Before you call the broker
9 things are not disclosed on this listing. These are the questions that would close the gap — specific to a storage facility, not a generic list.
Asking price — not disclosed
What is the asking price, and is it firm or inviting offers?
Everything else is measured against it. A price on request is normal, but it means you cannot screen this against your budget yet.
Net operating income — not disclosed
What is the trailing twelve-month NOI, and what does it include and exclude?
The single number a lender will size debt against. Ask what is excluded — management fees and reserves are the usual omissions.
What period the financials cover — not disclosed
Are these figures trailing twelve months, last calendar year, or projected?
A projected stabilised NOI and a current operating NOI can differ by a third, and both get called "NOI".
Gross income and operating expenses — not disclosed
Can you share a trailing twelve-month profit and loss, with the expense lines itemised?
NOI alone hides whether income is high or expenses are being under-reported. The split is what you underwrite.
Reason for sale — not disclosed
Why is the owner selling, and how long have they held it?
Never published on a listing, always worth knowing. Retirement and a looming capital bill are very different situations.
Physical vs economic occupancy — not disclosed
What is physical occupancy, and what is economic occupancy?
A facility can be 92% full and still be collecting far less, through concessions and delinquency. Physical occupancy alone flatters the deal.
Climate-controlled share — not disclosed
How many units are climate-controlled, and what is the rate premium?
Climate-controlled space earns more per square foot and costs more to run. The mix changes both sides of the model.
Expansion land and entitlements — not disclosed
Is there expansion land, and has anything been entitled or permitted?
Often the whole thesis in storage. Also the difference between a plan and a permit.
How it is managed today — not disclosed
Is this staffed, remotely managed or unmanned, and does a management contract transfer?
Decides whether the expense line you are shown survives the sale.
Currency of the asking price — disclosed
Unit mix and rent roll — disclosed
What has changed
Every date below is when we observed a change, not when it happened. We first saw this listing on Sep 10, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Sep 10, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
