I am not in the commercial space, so I am not the best expert on this topic. However I would think it would depend greatly on the real estate values. There are vert expensive industrial properties, and some very affordable ones as well.
We utilize this practice in new construction, even before clients have purchased land. As a general contractor, we can call in locates whenever we like. I'm not sure what the rules are for the general public calling in locates on property they don't own, but I do know that the 811 system errs towards encouraging people to call in locates.
When evaluating property for purchase, this is an excellent way to know what utilities come to the property and how far they are they are from the desired homes site. This helps in evaluating costs and home siting logistics. When it comes to sewers, this has been very helpful in determining if there is sewer stubbed on to the property or where the sewer line is located to determine costs for hot taps. We've also used this to identify legacy power lines without easement, as well as not easily identified storm water systems.
I actually lived in a modular duplex (as a renter) when I was in college.
I also worked on a few on these homes doing remodeling work as a contractor. They are built as good or better than any site built home... with the exception of the finishwork that tends to be lower end (about right for a rental though).
There is a double thickness wall down the center of the house where they seam them together on site, but most have layouts that hide this well. You also have the reassurance that nothing was exposed to weather- no rusted nails or wet plywood, during the builidng process.
As to cost, for most markets they are cheaper than site built, but they key is buying the lot and the type of foundation. If a person had cash and the infill lots, they could potentially put several of them up quickly and have them cash flowing fast.
I noticed from this article that most of the cities that have grown during the pandemic have been relatively small ones.
Some of them would be considered mid-sized, like Lincoln, NE or Chattanooga, TN, but I don't see any BIG, big cities on the list. A lot of them are towns I've never heard of before, if that tells you anything.
Matthew Jones Do you know what species are on it? If you want to keep the integrity of the land intact you can look at people who do selective logging for timberframe construction. Generally these are people looking for straight trees with high branches and they might take 3 of 5 trees per acre at the most. They pay better than many for good size as they're using them to make full size beams. There are also mule loggers who pull logs out to the trucks with mule teams rather than tractors, saving the trail scarring.
Max Householder I was talking to someone recently who has had some good luck with this. However, they didn't develop the property into an RV site, it was just just ready to go as-is. It was a flat, vacant parcel with enough room to park an RV, the local code didn't have any issues with parking an RV on a short-term basis, and it was in an area where RV campers wanted to be.
If you're using a site like hipcamp (the airbnb for RVers), you're usually not going to make a ton of money this way, but you can make some smaller trickles of fairly passive income. In other words, if you can get a good deal on a property that is already set up for an RV (without spending a small fortune to develop the property), it could make sense.
Of course, every deal is its own unique thing... there's probably a time and place where it does make sense to spend some money developing it. I just haven't encountered that situation yet in the very few conversations I've had on the subject.
If you're able to find a deal where development cost does make sense, be sure to post your experience here! I'm sure we'd all love to hear about it.
Still pondering the best response to "Our team spent a TON of time putting this one image together over the past several week[s]"...
It is an interesting factoid, but... if you have a ton of time to spend next week, I've got a mailer data set you can scrub and price (Just Kidding) - I enjoy all the various items you come up with out of left field.
This is a very interesting topic. There is a facility (http://www.off-sitegarages.com/broomfield-co.html) that opened up a little bit ago that's maybe five minutes from my house. Here's the site plan of the facility. I plan on calling them tomorrow to get a little more intel on their success. It sounds like a profitable niche with far less competition than normal self-storage.
Steve Kish might want to start by figuring out the cost of drilling and then maintaining, and then approach the neighbors (if you can) to see what they'd be willing to pay. Even if you can find an existing instance of this in the area (perhaps a well drilling company might know of some), you could see how they're handling it.