Self storage business for sale with occupancy and NOI
Self storage sits closer to commercial real estate than to a typical small business. Revenue comes from many small monthly rentals, labor needs are low and the land and buildings carry most of the value. That is why storage deals are usually priced on net operating income and a cap rate rather than a simple SDE multiple. CompanyBrokers listings show revenue, earnings, asking price, multiple and reason for sale in a structured format, and rent rolls and property reports sit in a data room that opens after NDA and proof of funds.
- NDA signed
- Proof of funds
- Data room
Self storage facilities for sale near me
Set a deal alert for self storage by state, price range and minimum earnings, and new listings arrive by email once a broker or owner publishes them. Every inquiry goes through an NDA e-sign and a proof of funds step, so rent rolls and tenant data reach serious buyers only. You can also browse every business for sale near me or start with how to buy a business.
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What buyers look for in a storage facility
- Physical and economic occupancy, and the gap between them caused by discounts and delinquent units
- Street rates compared with nearby competitors, showing room to raise rents
- Unit mix: climate controlled, drive up, vehicle and boat parking
- Land available for expansion, and zoning that allows more buildings
- Supply pipeline of new facilities within a three to five mile radius
- Online rental, gate access and management software that runs without a full time manager on site
How much is a self storage business worth
Self storage is usually valued by dividing net operating income (NOI) by a market cap rate, which reflects the local market, the age of the facility and the quality of the income. Small owner run sites without much real estate value are sometimes priced on a multiple of SDE instead. Buyers commonly underwrite upside: below market rents, expansion land and better marketing all raise what a buyer will pay. Deferred maintenance, high delinquency or heavy new supply nearby lower it. For a first business level estimate, try the business valuation calculator, then confirm with a real estate appraisal.
Self storage due diligence checklist
- Current rent roll and twelve to thirty six months of occupancy, rate and delinquency history
- Monthly operating statements reconciled to bank deposits and property tax bills
- Lien and auction records, which show how the facility handles non paying tenants
- Phase I environmental site assessment, survey, title report and zoning confirmation
- Roof, paving, door and gate condition, with a property condition report where possible
- Insurance policy and any tenant protection or insurance program revenue
- Competitor study with rates and occupancy at nearby facilities
Financing a self storage purchase
Self storage is often financed with commercial real estate loans, but owner operators can also use the SBA 504 program for property or an SBA 7(a) loan; see our guide to an SBA loan to buy a business. Lenders focus on debt service coverage from current NOI, not projected upside. Seller financing appears often in smaller rural facilities, and an earn-out tied to occupancy can help when a newer facility is still in lease up.
Selling your self storage facility
Owners ready to sell my business get stronger offers with a clean rent roll, current street rates and documented expense history. Our selling a business checklist covers the rest. List the facility or get matched with business brokers who know storage and real estate deals in your state, including business brokers near me. Listing plans are on the pricing page.
What is a cap rate in a self storage sale
The cap rate is NOI divided by price. A lower cap rate means a higher price for the same income. Rates depend on location, facility quality and interest rates at the time of sale.
What occupancy should a self storage facility have
Mature facilities in balanced markets commonly run well above eighty percent physical occupancy. More important is economic occupancy, which shows how much rent is actually collected after discounts and delinquencies.
Can I manage a self storage facility remotely
Many owners do, using online rentals, automated gates, cameras and a part time manager. Remote management works best when the software and access control are modern.