No. of Recommendations: 0
If you don't mind sharing a little more, roughly what is your percentage occupancy?

I'm roughly 60% occupancy on average. There are seasonal variations. Used to be higher years ago. I think what hurt was a couple climate control places opened up closer into town.

JLC
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No. of Recommendations: 2
I’ll comment on self storage since I’ve owned one for about 20 years.

Like anything real estate, location, location, location. Mine happens to be on a busy highway, so get lots of independent contractors storing stuff there that they can’t keep at job sites. It also feeds off the trailer park next door. This is an older facility built back in the 70s so there have been maintenance issues over the years. Mostly roofing and security fences/cameras.

If starting from scratch, I’d do gross majority climate control especially if you’re in a very humid environment. I currently have none and not too feasible to build at my site. Go for larger storage rooms, 10x10 as smallest. I currently go up to 10x30. First thing I did was convert 5x10s into bigger places. Have as much automation as possible: security gates, indoor access, collections/payments, etc.

Biggest thing is location. If not easy to access not going to attract people.

JLC
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Looking at your profile, I'm probably between you and Dallas, so I would say its a humid climate. I think the city I am in is overbuilt on self storage, but one of the larger cities I work in seems like it may be undeserved (growing population, adding apartments).

If you don't mind sharing a little more, roughly what is your percentage occupancy? I currently have some stuff at a SecureCare self storage facility, which really opened my eyes to the business model.
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No. of Recommendations: 0
If you don't mind sharing a little more, roughly what is your percentage occupancy?

I'm roughly 60% occupancy on average. There are seasonal variations. Used to be higher years ago. I think what hurt was a couple climate control places opened up closer into town.

JLC
Print the post Back To Top