Storage unit rent

[Johnny Cooke]

I need a little help. Finishing up a 30x120 storage building, has 6 20x30 bays with 10 foot roll up door and a walk trough door for each unit. There is no large storage units in my area but there is plenty of the smaller ones. The question is $450 too much per unit?

in my area 

10x10 $100  $1.00 sqft

10x15 $140. $0.93 sqft

10x20 $170  $0.85 sqft 

At $450 that's $0.75 sqft. The few that have inquired say it's to high. Im already planning for a longer that normal rent up, just dont want to be too high. Any thoughts? Thanks!

[Henry Clark]

@Jeremy Horton

OP the rental value of your units all depends:

1.  What are the door openings and the unit heights?  Normal storage is 10 wide by 10 tall, which is 8 1/2 by 8 1/2 door opening.  When we go larger, we do 12 wide by 12 tall.  This gets us about a 9 1/2 by 9 1/2 door opening.  If you have the smaller or regular door opening, you probably lose about 1/3 of your potential customers for larger units.

2.  Drive way in front of door way.  Is it clear to where they can back in a say 28 foot trailer?  Our normal Self Storage driveways are 25 foot wide, so two vehicles can pass easily.  For larger units, you need larger driveways to get the full value out of.

3.  Height?  

4.  Small but larger units are in a sweet spot.  Normally the larger a unit, the lower the per square foot price.  But for these mid range units say 800 to 2,500 sq ft, their price will be the same or higher than your 10x20 normal unit per square foot.  Your 20x30 600 sqft is a little odd size, but have their market.  Our next larger are 12 x 30 x 12 and stay full forever.  We need to raise the price.

5.  Your local market.  Can't tell what town "Southeast NC" is near.  Look up Sparefoot for your surrounding area and look for near your size.  Or call local spots.