Low cost high yield airport parking investment - just $32,000 per space with 8% + net returns at Charleston International, one of America's fastest growing airports.
Charleston International is one of America's fastest growing airports and the busiest airport in the State of South Carolina with more than 3.7 million passengers per year. $200 million was recently invested into Charleston Airport and passenger numbers are increasing year on year.
Expansion of the airport and also expansion of major employers Boeing, Mercedes and Volvo in the locality are fuelling the growth of the Airport and the surrounding area, yet there are no mass transit connections in place. Driving is by far the most efficient and flexible option for travellers and workers alike, and secure, cost effective parking is in high demand.
The operator and facility
- The only major oﬀ-airport parking company close to Charleston International Airport
- Operating successfully since 2001, increasing revenue steadily year on year
- Located just 1.9 miles from the airport, and offering valet parking and a shuttle service
- Very favourable customer reviews of the service and facility
- Occupancy rates of 80% - 100%. (Actual occupancy rate exceeds 100% as additional spaces are rented in busy periods.)
- Increase in local zoning restrictions also means the private oﬀ-airport parking market has high barriers to entry and is still very far from being saturated. For this established operator there is a clear benefit of high and increasing demand for parking in a climate of low competition.
- 175 spaces available out of 250
- Purchase spaces at $32,000
- Guaranteed net return of 8% in year 1
- First year returns payable within 30 days of closing
- Projected return with 90% occupancy years 2-5 = 8.06% to 9.97%
- Projected returns with 100% occupancy years 2-5 = 9.33% to 11.45%
- Clearly defined exit strategies including buy back at year 5