Self Storage- Subdivision Collateral
Sunday, May 16
We have continued to grow in the last 7 years with our Storage business. We are now up to 8 locations. Most are at 100% occupancy. 4 have land to expand, and we will next year. Focusing on our last locations 7 and 8. Our last piece of purchased ground should go on line this month, subject to...
Self Storage- What is a good Customer in terms of length of stay?
Wednesday, April 28
Over the last two weeks I was asked what is a good customer in terms of length of stay. My response was all customers are good, because most of them don't know how long they will stay. Even when they tell me they only need a unit for one month, I will rent to them. Even if it is the last unit we ...
Self Storage- Building Cost Increases
Monday, March 08
Just got our latest estimate for our Phase 2 of a location. This is for your normal drive up units. Last fall Phase 1 we were $3,200 erected for 10 x 15 or 10 x 20. This was contracted around February of last year. Latest quote is $4,000 per unit erected.Steel for buildings, rebar steel and Concr...
Self Storage- 10 days to Close
Sunday, February 21
10 days to Close on Land Helping a friend out purchasing some property and then building storage units on it. Not closed yet, so I won't show you location and Market analysis first. Below is the Layout/Unit analysis, Cost analysis, and then PL and payback analysis. Have 10 days till close.Our sur...
Self Storage- Building Pads
Tuesday, February 16
SELF STORAGE- BUILDING PADSListening to an Allie Sherlock buskering tune at minus 14 degrees, thought I would knock out a post.You liked the post on Driveways, so we will go with Building pads since you’re interested in concrete.Pad specs: Basically however engineered and Building codes designate...
Self Storage- Valuation
Wednesday, February 10
Response to question, “How are Self Storage locations valued?”. I will go with a multiple response answer. Simple answer: If you look out on Loopnet, most Self Storage listings will show Cap rate. Layered answer: I'm just talking about Mom/Pop and not REIT valuations. Most of them list for what t...