An independent Boat & RV Storage Feasibility Study evaluating a 437-space dry-stack boat and RV storage facility in Sarasota, Florida.
SARASOTA, Florida — Wert-Berater, Inc., an independent feasibility study consulting firm serving lenders and government agencies since 1998, has completed a Boat & RV Storage Feasibility Study in Sarasota, Florida.
Wert-Berater served as independent feasibility consultant to the lender and CDC. Party names are withheld consistent with the confidential nature of underwriting and capital-advisory work; figures represent the project as evaluated at the study date.
Ground-up development of a 437-space marine and recreational-vehicle storage facility on 3.871 acres of industrial-zoned land: 350 dry-stack boat positions inside a 79,864-square-foot hurricane-rated pre-engineered metal building, plus 87 RV and trailer spaces. The site sits in FEMA Zone X (minimal flood hazard) — a meaningful underwriting distinction for coastal Florida marine assets. The construction budget was validated at $143.99 per square foot for the PEMB structure, at the low end of the applicable RSMeans range, with a 5 percent contingency.
A demand-driven storage platform serving the Sarasota boating market, underwritten on a Year 1 average occupancy ramp of 47.5 percent rising to stabilization in Year 2 — deliberately conservative entry assumptions rather than stabilized-day-one optimism.
Classic 50/30/20 SBA 504 stack: $11,875,000 bank first mortgage at 6.10% with one year interest-only; $7,125,000 CDC debenture at 5.45% over 20 years; $4,750,000 equity ($3,562,500 investor; $1,187,500 sponsor). Annual principal and interest from Year 2: $1,512,592.
The determination was favorable but conditioned, and the conditions were stated as conditions — not buried. The Phase I ESA was 44 months old at the study date, beyond regulatory currency, and its update was made a condition precedent to closing rather than a footnote. Three further conditions followed: lender and CDC confirmation of the SBA 504 operating-business determination, personal guaranties from all owners of 20 percent or more, and confirmation of SBA eligibility for the development management fee. The study also flagged the sponsor's dual role as developer and property manager as a governance consideration. Coverage discipline anchored the analysis: a full 49-combination stress grid across interest-rate and occupancy scenarios, every combination through +2.5 percent passing SBA minimums, with the +2.5 percent rate case still producing 1.30x.
Wert-Berater, Inc. is an independent feasibility study consulting firm founded in 1998, providing lender- and agency-facing feasibility studies, highest-and-best-use analyses, and capital-advisory support. The firm has completed more than 4,000 engagements across all 50 states and internationally, evaluating over $40.2 billion in project value for SBA, USDA, EB-5, conventional, and institutional financing decisions. In every engagement, fiduciary duty runs to the lender and the applicable agency.
Media contact: Donald Safranek, MSc, President, Wert-Berater, Inc. — +1 310-857-2443 ext. 800. Press inquiries only; client, lender, and property identities remain confidential.
President, Wert-Berater, Inc. — independent feasibility study consultants since 1998. More than 4,000 feasibility studies completed across all 50 states and internationally, evaluating $40.2 billion in project value for SBA, USDA, EB-5, conventional, and institutional financing decisions. Fiduciary duty runs to the lender and agency in every engagement.
+1 310-857-2443 ext. 800 · email · 1968 South Coast Hwy, Ste 2382, Laguna Beach, CA 92651 · 111 Town Square Pl Ste 1238 PMB 657834, Jersey City, NJ 07310 · 539 W. Commerce St #8486, Dallas, TX 75208
Schedule a ConversationIndependent feasibility studies since 1998 — 4,000+ engagements, $40.2 billion in evaluated project value. Standard delivery in 10 to 15 business days. Fiduciary duty to the lender and agency.