SSSE’s core values are Fun, Integrity, Drive, and Others-First. As part of our commitment to Others-First, we strive to educate our investors, partners, and the general public about self storage. The Roman philosopher Seneca once said, “Luck is what happens when preparation meets opportunity”. This Frequently Asked Questions page is to serve as preparation for anyone interested in learning more about self storage and SSSE. The opportunities come when you sign up for SSSE’s investors list or buyers list by clicking the links in our menu bar. We hope to be lucky enough to work together.
If there are any questions that you have that are not answered below, please contact info@ssse.com
What is the typical net operating income for self-storage?
The typical net operating income (NOI) for self-storage facilities varies widely depending on a number of factors such as location, competition, occupancy rates, rental rates, and operating expenses. On average, the NOI for self-storage facilities ranges from $7 to $25 per square foot, but can be higher or lower depending on market conditions. The NOI is calculated as the gross operating income minus the operating expenses and is a measure of the profitability of a self-storage facility. A higher NOI indicates a more profitable facility, and a lower NOI indicates a less profitable facility. Factors that can impact the NOI for self-storage facilities include occupancy rates, rental rates, operating expenses, competition, and local economic conditions.
According to the 2022 Self-Storage Expense Guidebook by MiniCo Insurance Agency, the national average net operating income was $8 per square foot.