Self-storage is one of the most searched-for passive investments in the Triangle, which means sellers price optimistically. This page covers how storage facilities are actually valued and what to check before you trust the listing.
Self-storage trades on cap rate, typically 6.5% to 8.5% of net operating income depending on occupancy stability and unit mix. Key local factors: occupancy history, street-rate vs. in-place rents, climate vs. non-climate mix, and new supply in the pipeline within 3 miles. Before trusting the broker's numbers, verify occupancy reports, rate escalation history, and deferred maintenance on doors and pavement.