Storage unit rent
Member since 2024 · 13 posts · 4 votes
Storage unit rent
Most Popular Reply
Henry ClarkPro Member
Developer · Member since 2020 · 4k+ posts · 4k+ votesOP 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.
16 Replies
- Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes6mo
Have you looked at nearby facilities? I know in my area they start the initial rent lower then increase every couple months. I had a unit that I used, it doubled in price over a 2 year span.
- Member since 2024 · 13 posts · 4 votes6moI know alot of places do that, I just dont know how ethical that come across, especially in a smaller town setting.
Quote from @Caleb Brown:
Have you looked at nearby facilities? I know in my area they start the initial rent lower then increase every couple months. I had a unit that I used, it doubled in price over a 2 year span.
- Rental Property Investor · Somewhere over the Rainbow · Member since 2021 · 1k+ posts · 1k+ votes6mo
@Henry Clark is the storage expert
- 6moHenry ClarkPro MemberDeveloper · Member since 2020 · 4k+ posts · 4k+ votes
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.
- Member since 2024 · 13 posts · 4 votes6mo
Quote from @Henry Clark:
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.
Roll up door is true 10x10, building is lean to style. 12 foot at the front 10 at the rear.
Im in Clinton, small town but it's whatvI have to work with.
thanks for your reply!
- 6moHenry ClarkPro MemberDeveloper · Member since 2020 · 4k+ posts · 4k+ votes
OP
Erwin- 15x15 Climate controlled $190
Goldsboro- 15 x 20 $300 drive up access
Wallace- 10x30 Climate controlled $300
Your 20x30 drive up non climate at $450 is not overpriced. But I don't have boots on the ground and know the economics of these towns.
If you can get a boat into yours or a camper, you're on a great location between Fayatteville and the ocean front. Although it would be better to be closer to either one.
- Member since 2024 · 13 posts · 4 votes6mo
Quote from @Henry Clark:
OP
Erwin- 15x15 Climate controlled $190
Goldsboro- 15 x 20 $300 drive up access
Wallace- 10x30 Climate controlled $300
Your 20x30 drive up non climate at $450 is not overpriced. But I don't have boots on the ground and know the economics of these towns.
If you can get a boat into yours or a camper, you're on a great location between Fayatteville and the ocean front. Although it would be better to be closer to either one.
Thanks Henry, just needed some reassurance!
- 6moHenry ClarkPro MemberDeveloper · Member since 2020 · 4k+ posts · 4k+ votes
OP more info than you want.
Per your picture. Recommend you put down either 3 inch rock with fines for a base. Walk it in, then put 1 or 1 1/2 inch with fines on top.
Or look up Tensar TX 160 grid. Put 1 or 1 1/2 inch with fines on top. No base needed. Put about 3 or 4 inches on top. You will never need more gravel or ever get any potholes in the future.
Would also add some small windows for light inside. Plus, LED night lights on a sensor for the outside. Or put standalone solar up that will stay on till early morning.
If your near Oil drilling. Pick up some wider Stem and put on each side of the doors about 4 foot out. Or get some large boulders.
Looks like a Scalable project you can replicate. Google the guy in Kansas City and look at his units. Different market though.
- Member since 2024 · 13 posts · 4 votes6mo
Quote from @Henry Clark:
OP more info than you want.
Per your picture. Recommend you put down either 3 inch rock with fines for a base. Walk it in, then put 1 or 1 1/2 inch with fines on top.
Or look up Tensar TX 160 grid. Put 1 or 1 1/2 inch with fines on top. No base needed. Put about 3 or 4 inches on top. You will never need more gravel or ever get any potholes in the future.
Would also add some small windows for light inside. Plus, LED night lights on a sensor for the outside. Or put standalone solar up that will stay on till early morning.
If your near Oil drilling. Pick up some wider Stem and put on each side of the doors about 4 foot out. Or get some large boulders.
Looks like a Scalable project you can replicate. Google the guy in Kansas City and look at his units. Different market though.
I did get the outside LEDs up last week, also forgot to mention each unit has 8ft LED lighting and one receptacle. Still working on the drive, gravel sure doesn't go far. I have just shy of 4 acres, hoping this one does well enough and can add another. Thinking about boat/rv parking, also truck parking. Some place around here are getting $200 a month for truck parking. Thank you for your insight, im a very small fish in a large pond.
- Member since 2024 · 13 posts · 4 votes6mo
Quote from @Johnny Cooke:
Quote from @Henry Clark:
OP more info than you want.
Per your picture. Recommend you put down either 3 inch rock with fines for a base. Walk it in, then put 1 or 1 1/2 inch with fines on top.
Or look up Tensar TX 160 grid. Put 1 or 1 1/2 inch with fines on top. No base needed. Put about 3 or 4 inches on top. You will never need more gravel or ever get any potholes in the future.
Would also add some small windows for light inside. Plus, LED night lights on a sensor for the outside. Or put standalone solar up that will stay on till early morning.
If your near Oil drilling. Pick up some wider Stem and put on each side of the doors about 4 foot out. Or get some large boulders.
Looks like a Scalable project you can replicate. Google the guy in Kansas City and look at his units. Different market though.
I did get the outside LEDs up last week, also forgot to mention each unit has 8ft LED lighting and one receptacle. Still working on the drive, gravel sure doesn't go far. I have just shy of 4 acres, hoping this one does well enough and can add another. Thinking about boat/rv parking, also truck parking. Some place around here are getting $200 a month for truck parking. Thank you for your insight, im a very small fish in a large pond.
Who's the guy in Kansas City.?
- Property Manager · Calabasas, CA · Member since 2026 · 141 posts · 67 votes6mo
Your $0.75/sqft for large drive-up units is actually reasonable based on what I see in smaller markets. The $450 hesitation from inquirers is probably sticker shock on the number itself, not the per-sqft math. One thing that works on the commercial side when you're in a market without good comps for your size: instead of discounting the rate, offer a free month on a 12-month commitment. You preserve your base rent (which sets the comp for future tenants and any eventual valuation) while giving the tenant enough of an inducement to sign. A month of free rent on a 12-month deal is effectively about 8% off, which is softer than cutting your monthly rate and doesn't lock you into a permanently lower price point. On the boat/RV and truck parking idea — that's real money in the right location. Truck parking in particular can be surprisingly strong if you're near a logistics corridor. Make sure you're comfortable with the lease terms though, especially for long-term truck tenants; they can be hard to move if the relationship sours.
- Member since 2024 · 13 posts · 4 votes6mo
Quote from @Ryan Stomel:
Your $0.75/sqft for large drive-up units is actually reasonable based on what I see in smaller markets. The $450 hesitation from inquirers is probably sticker shock on the number itself, not the per-sqft math. One thing that works on the commercial side when you're in a market without good comps for your size: instead of discounting the rate, offer a free month on a 12-month commitment. You preserve your base rent (which sets the comp for future tenants and any eventual valuation) while giving the tenant enough of an inducement to sign. A month of free rent on a 12-month deal is effectively about 8% off, which is softer than cutting your monthly rate and doesn't lock you into a permanently lower price point. On the boat/RV and truck parking idea — that's real money in the right location. Truck parking in particular can be surprisingly strong if you're near a logistics corridor. Make sure you're comfortable with the lease terms though, especially for long-term truck tenants; they can be hard to move if the relationship sours.
Great information, thank you.
- Member since 2024 · 13 posts · 4 votes2d
Just a quick update, have a tenant that is scheduled to move in on the 4th of October. That will put me at 100%. Lowered the rent to $400 and finally got my wife on board to put the listing on facebook (I dont have facebook). Surprisingly, only one of the tenants is local, all the others are from out of town. Thanks again for all the advice!
- 2dHenry ClarkPro MemberDeveloper · Member since 2020 · 4k+ posts · 4k+ votes
Yahoo. Worst part. Time to expand. I like variety. Check out 1trip 8x20. See my post on setting up the base for them. Put them away from where you might build your next units.
- Specialist · Tampa FL · Member since 2026 · 18 posts · 6 votes3h
Johnny, congrats on getting to 100%!
Dropping to $400 and filling up fast was a smart trade.One thing worth doing before you file this year, since the building just went into service: I work in cost segregation, and on a new build like yours the site work often matters more than people expect. Paved or gravel drive areas, exterior lighting, cameras, fencing and signage can usually be written off much faster than the 39-year building, and with 100% bonus depreciation, often all in the first year. Keep your contractor invoices itemized and run it by your CPA.
Same goes if you take Henry's advice and add containers. Those can often be depreciated like equipment rather than as a building. Are you leaning toward another building or containers next?
- Specialist · Tampa FL · Member since 2026 · 18 posts · 6 votes3h
Congrats on hitting 100%, Johnny! Filling six 20x30s at $400 in a small town, mostly with out-of-town tenants, says that larger drive-up size was a real gap in your market. Good sign for the next building.
Since you're thinking about expanding (and Henry's container idea), one thing I always notice because I work in cost segregation: not everything you build has to be depreciated over 39 years like the building. The gravel drive, exterior LED lighting, fencing, gate and drainage are generally 15-year site improvements, and with 100% bonus depreciation now permanent for property acquired after Jan 19, 2025, they can often be written off in year one. Containers may fall into a shorter class too, depending on how they're set and used.
The catch: storage is usually a passive rental activity, so those losses mostly offset rental income unless you qualify as a real estate professional. Worth running with your CPA before you build.
Are you leaning toward another building like this one, or trying containers first?
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