Why Self Storage?
“The bottom line is that if we go into a bad housing market, people have to put their stuff somewhere, when the economy is good and people buy too much stuff they have to put it in storage. You’re winning as the market goes down, and winning as the market goes up.” – Scott Mednick, US News. See Article Below
There are 45,000+ primary self-storage facilities totaling over 2.3 billion square feet of storage space and generating over $38 billion in annual revenue. The average monthly cost of a unit is $91.14 and the occupancy nationwide is 91% as of 2019. This info is according to the 2019 Self Storage Almanac.
Key Points on Self Storage Investments
A “safe” investment.
For investors looking for an alternative to being a landlord, self-storage is considered a relatively safe real estate asset type with many positive characteristics.
It’s all about location.
The market for self-storage facilities relies on a number of factors, and chief among them is, of course, location.
Steady cash flow.
For investors looking to buy and hold self-storage for the long run, experts say you can expect a good steady cash flow to result.
The retail apocalypse.
Retailers will likely announce plans to close more than 100 million square feet of retail space in 2020. This is a once in a lifetime opportunity for Square Storage to expand.