Owner-Operated Small-Town Storage Facility

Local households, landlords, contractors and small businesses who rent units month to month.

Monthly unit rents, plus fees, lock and box sales and tenant insurance. Gains come from filling empty units, updating rates and keeping costs under control.

• Reading financial statements
• Negotiation
• Customer service
• Basic property maintenance

• The startup cost shown is the cash you would typically need up front: a down payment on the purchase (lenders often ask for roughly 10% to 25%), plus closing costs and some working capital. The full purchase price of a small facility is usually much higher, often around $250,000 to $1,200,000, and the rest is covered by the loan
• Don't rely only on the seller's numbers; check rent rolls, bank deposits and tax returns
• Loan payments, property taxes and insurance can use up much of the income, so test your numbers at lower occupancy
• Check your state's lien and auction rules for unpaid rent, and the facility's existing rental contracts
• General liability, property and possibly business interruption insurance; check what is needed with an agent
• New competing facilities nearby can pull down rents, so check planning applications in the area

The startup estimate of around $50,000 to $250,000 is typical upfront cash: a down payment, closing costs and working capital. The full purchase price is usually much higher, with a loan covering the rest.

Monthly revenue is typically estimated at around $2,500 to $12,500, depending on unit count, occupancy and local rents. Loan payments, property taxes and insurance can use much of it, so test lower occupancy.

Check your state's lien and auction rules for unpaid rent, and the existing rental contracts. Verify the seller's numbers through rent rolls, bank deposits and tax returns, check insurance needs, and look at nearby competing facilities.