Gulf Coast indoor storage facility, bad idea?
I hope this is not a rules violation of some type, I am a fairly new member here in the process of shopping for my first Class A. On a side point I have partial ownership (closed family business) of a 35,000+ sq ft warehouse located just off I-10 near the Texas / Louisiana line, the warehouse has been up for sale for the last couple of years, was previously a mixed drygoods / refrigerated warehouse, and I am considering the practicality of converting it to RV, boat and other outdoor toy storage. It is a dock level warehouse, so a ramp would have to be added, and interior ceiling height is a concern as there are cross members at about 13 ft, maybe 13'6", there are also partition dividers, old coolers and freezers, etc. Right now the largest single open space is about 100x100 ft, second largest is about 70x100.
For this to be a going venture it would need to pay at least $70,000 per year after expenses to go to the other owners. Expenses would likely include hiring a care taker as I live about 50 miles away, adding better security alarm system, utilities overhead, insurance (this is a big question mark) and then of course there is the pricing rate and level of amenities needed to attract customers.
I would love to hear any thoughts you might have on this matter.