388. Watch Us 5x Our Returns in Self Storage (Deep Dive)
About this episode
Tyler Cauble discusses how expanding self-storage facilities can significantly increase their value beyond just raising rents.
Key Takeaways The biggest value-add opportunity in self-storage isn't always raising rents—it's adding units. Expanding a facility can create significantly more value than operational improvements alone. Look for excess land when buying self-storage. Vacant land, truck parking, RV storage, or underutilized areas can often be converted into additional storage units. Modular storage containers allow you to expand in phases. Instead of investing heavily upfront, operators can add units as demand grows, reducing risk and vacancy. Simple site designs often outperform maximized layouts. Customer experience, ease of access, safety, and traffic flow can be more valuable than squeezing in a few extra units. Small business customers are often the best tenants. Contractors, HVAC companies, home stagers, and other service businesses tend to stay longer and expand into additional units over time. Unit mix matters. Offering a combination of different sizes can help attract a broader customer base and maximize occupancy. Appearance affects leasing. New, well-maintained units create a better customer experience and can command stronger demand than older, worn containers. Run the numbers before…
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