Self-storage investing means owning facilities that rent storage units, monthly, to individuals and businesses needing space for belongings, inventory, or equipment.
Log in to followI've been trying to decide between a small facility and small multifamily, so I asked two owners to log a month for me and I built the comparison out. The 118-unit facility, self-…
I'm going to lay this out simply because I understood almost none of it at the time and I suspect other people reading are where I was. A friend I've known 15 years owns a 210-uni…
I've been looking at storage as a way to make a piece of ground pay without me showing up every day, and I've got two very different listings in front of me. Both are around 100 t…
Working through a term sheet on a small facility and the insurance section lists four things, two of which I understand. Loss of rents endorsement and customer goods legal liabili…
Pulled operating statements on a 240-unit facility to practice on. Revenue line grows 6 percent year over year while unit count and occupancy are both flat. The broker said that's…
I'm looking at a stabilized 140-unit facility in a secondary market where nothing new has broken ground in four years. Current mix is 110 drive-up non-climate and 30 climate-contr…
55,000 rentable square feet, 480 units, asking $4.9M. Trailing twelve NOI is $348k, so 7.1% on the ask, and the broker is running his pro forma to a 8.4% year-three yield entirely…
Looking at participating in a bridge position on a facility that opened in late 2023. 62,000 rentable square feet, currently 61 percent physical occupancy, targeting stabilization…
Closed August of the year before last, sold this past spring, out about 118k including closing costs on both ends. First facility I ever bought and I'd read everything twice, whic…
I bought this parcel in 2016 because it was cheap and sat on a highway just past the edge of town. Held it, paid the taxes, mowed it twice a year, did nothing with it. Nine years…
I've spent most of my time on raw land, so storage is new to me. What pulled me in is that the sector seems to be arguing with itself right now and both sides sound reasonable. Th…
212 units, 24,600 net rentable square feet, 89 percent physical and 81 percent economic occupancy. Asking price implies a 6.1 cap on trailing twelve, which is fine. The problem is…
I've held this facility eleven years and the manager who came with it is retiring in the spring. She works 22 hours a week and costs me a bit over 26k all in with payroll taxes. O…
I've been pulling apart the three ways to own storage without running it, and they turn out to be three different bets wearing the same name. Public REIT shares give me daily liqu…
Owner group asked me to review a management agreement before they sign. 480 units, roughly 52,000 net rentable square feet, small metro on the edge of a bigger one. Occupancy 86 p…
An owner I've been talking with has a 42,000 rentable square foot facility, about 310 units, grossing roughly $560k. He's decided he wants out of the day-to-day and asked me to re…
The facility is 180 units on a paved lot, gate with a keypad, no manager on site. The seller told me he drives over twice a week, walks the rows, and the rest is done from his lap…
Small syndication, one facility, 310 units plus 22 outdoor RV/boat spaces. Sponsor owns it already and is selling down 40 percent of the equity to fund a canopy build and a gate/a…
I've got capital sitting and I've been circling self-storage because everyone describes it as the low-hassle option. But I don't know how to tell a good facility from a bad one wh…
I'm reading a package on a 240-unit facility. The first page says 93% occupied. Then the rent roll shows a bunch of units at $49 when the website advertises $89 for the same size,…