Recent self-storage transactions illustrate a sector that continues to attract investor attention, with activity spanning both stabilized assets and properties offering growth potential. Buyers are active in secondary and suburban markets, carefully weighing occupancy levels, income trends, and expansion opportunities as part of their strategies. These dynamics reinforce the industry’s resilience, as capital remains focused on opportunities that strike a balance between dependable performance and the prospect of long-term value creation.
Property: Discount Mini Storage
Location: Mead, Washington
Closing Deal: $4,650,000
Seller: Discount Mini Storage LLC
Buyer: Access Mead, LLC
Brokers and Brokerage: Ryan Layton of American Real Estate Associates, Inc. [Argus Broker Affiliate]
Square Feet: 45,200
Unit Count: 268 units
Acquisition Capitalization Rate: 5.5%
Property: Rodeo City Self Storage
Location: Ellensburg, Washington
Closing Deal: $3,100,000
Seller: Rodeo City Storage LLC
Buyer: Cougar Investments, LLC
Brokers and Brokerage: Ryan Layton and Greg Meager of American Real Estate Associates, Inc. [Argus Broker Affiliate]
Square Feet: 18,058
Unit Count: 189 units
Acquisition Capitalization Rate: 6.4%
Property: West Ridge Mini Storage
Location: Elyria, Ohio
Brokerage: SkyView Advisors
Acreage: 2.50 acres
NRSF: 21,960
Unit Count: 200 units
Physical Occupancy: growing 4% (since August 2023)
Economic Occupancy: increasing 8.7% (since August 2023)
Effective Rental Rates: rising 8.5% (since August 2023)
Highlights:
- Investors will also benefit from expansion potential, with the ability to add 4,000 NRSF of new units and utilize ~9,200 square feet of unused space for immediate parking
- Implementation of a tenant insurance program
- Remote management efficiencies
- Minimal annual advertising spend of only $1,389
- 7.24 NRSF per capita within 5 miles
- 43% of homes within three miles are renter-occupied
Property: Oakdale Self Storage
Location: Oakdale, New York
Year Built: 2005
Brokers and Brokerage: Andreas Makris, Kevin Bledsoe and John Horowitz (broker of record) of Marcus & Millichap
NRSF: 27,320
Unit Count: 291 units (190 climate-controlled units, 86 non-climate-controlled units and 15 outdoor parking spaces)
Occupancy: 88%
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