What is the Best Way to Sell My Self-Storage Facility?
By calling ibuystoragefacilities.com, of course! As a fully financed, U.S.-based company with many years of industry experience, we have the resources and expertise to make a fair, fast offer for your storage property.
Will I Have to Clean and Repair my Storage Property?
No, you don’t have to spend more time and money making your property look pretty for us. The same cannot be said for commercial Realtors and REITs, who expect repairs to be completed before valuation or listing.
What Happens to my Tenants if I Sell my Storage Facility?
Nothing. All existing leases and agreements will be honored by new management.
Will I Have to Pay Commissions or Fees?
No, ibuystoragefacilities.com does not charge fees or commissions for its service, like a commercial real estate agent, broker or REIT would.
How Do I Prepare My Self-Storage Facility for Sale?
Just call 844-990-1555 or fill out the contact us form at the bottom of this page. We’ll do the rest.
Does it Matter Where My Property is Located?
No, we offer nationwide service and will come to you.
How Long Will It Take to Sell My Property?
Once you get in touch, we’ll start the process right away, including scheduling an in-person visit to evaluate your property. If we like what we see, we can make a fair market offer right then and there. If you agree, we’ll schedule a closing so you can get your money, fast!
What about a Third-Party Self Storage Management Company?
If you’re not completely ready to give up ownership of your self-storage property but want detach yourself from the day-to-day operations, talk to our partners at Store Space Self Storage. With more than 40 years of combined executive experience, proprietary Storage360 Platform, and in-house support, Store Space offers the cradle to grave property management solution to take your revenue to the next level. If you’re interested in learning more, call Store Space at 888-500-8905 or visit them online.
How can I get a valuation of my property?
A commonly used method for determining the value of a storage property is to determine its capitalization rate.
Cap rate is determined by dividing the Net Operating Income (NOI) by the value of property. For instance, if NOI was $90,000 and the property value was $1.2 million, the formula would look like this:
90,000 ÷ 1,200,00 = .75 or 7.5%
Calculating NOI forthis formula requires a lot of assumptions into the nature of income and expenses. It’s also important to have a recent property valuation for the equation to work.
While cap rate can give buyers and sellers a ballpark valuation for the property, it’s only as accurate as the data put into it. A company with industry experience in buying and selling properties and market intelligence can take a more in-depth approach to create a fair market value.
