Model a self-storage development from the ground up. Configure your unit mix, rental rates, and costs to see NOI, yield on cost, and market valuation at stabilization.
Gross building area
% of units with climate control
As % of effective gross income
5x5
164 units
5x10
205 units
10x10
143 units
10x15
41 units
10x20
30 units
Total Units
583
Across 5 sizes
Gross Potential Income
$809,154
At 100% occupancy
Effective Gross Income
$712,056
At 88% occupancy
Net Operating Income
$441,474
OpEx ratio: 38%
Total Development Cost
$3,250,000
Land: $500,000 + Build: $2,750,000
Yield on Cost
13.6%
NOI / total development cost
Market Value (6% Cap)
$7,357,907
Value created: $4,107,907
Break-Even Occupancy
20.1%
Occupancy to cover fixed costs
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Self-storage has consistently outperformed other commercial real estate sectors over the past two decades. Average cap rates range from 5% to 8% depending on market, with stabilized occupancy typically between 85% and 93%.
| Metric | Typical Range |
|---|---|
| Construction cost | $35 – $80 per sq ft |
| Climate-controlled premium | 25 – 40% over standard |
| Operating expense ratio | 30 – 45% |
| Stabilization period | 18 – 36 months |
| Break-even occupancy | 55 – 70% |