The self-storage industry has seen steady growth in the last decade, which is inspired by both residential and commercial demand. If you are considering diving into this profitable market, one of the first and most important questions is: How much does it cost the construct 100 storage units? The answer depends on several factors, including location, type of storage units, land acquisition costs, and facilities.
In this blog, we will break down the cost for the construction of 100 storage units, the average expenses involved, and which factors that affect the overall investment. We will also touch on what the best storage units are in terms of quality, customer demand, and long-term profitability.
Average Cost to Build 100 Storage Units
Let’s first look at some industry standards so that the average cost can be estimated for the construction of 100 storage units.
Original construction cost
- Basic single-story, non-personalized-controlled facility: $ 25- $ 40 per sq ft
- Climate-controlled or multi-story storage units: $ 40- $ 70+ per sq ft
- Each storage unit believes that about 100 sq ft, 100 units will require 10,000 square feet of usable space. Here is a thick estimate:
- Non-Jalvayu-controlled units: 10,000 square feet x $ 30 (AVG) = $ 300,000
- Climate-controlled units: 10,000 square feet x $ 60 (AVG) = $ 600,000
- This number only reflects construction costs. There are many other expenses that you should consider.
Additional Costs Involved
Land acquisition
Depending on the location, land prices vary widely. Urban or high-mang suburban areas can range from $ 5 to $ 25 per sq ft. For units, parking, driveways, and a facility with enough space for potential expansion, you may need 1.5 to 2 acres of land.
Average land cost: $150,000 – $500,000+
Site preparations and utilities
Grading, drainage, access, rhodes, and utility connections (electricity, water, security systems) usually add another $ 50,000 – $ 150,000.
Permission and design fee
The cost of architectural planning, engineering, and local permits can be $ 30,000 – $ 100,000 based on the rules in your area.
Safety and technology
Safety cameras, gate access, lighting, and chemical entry systems are standard features for the best storage units. It can cost $ 20,000 – $ 50,000 or more.
Marketing and operating setup
Budget $ 10,000 – $ 25,000 $ 10,000 – $ 25,000 for branding, website construction, initial marketing campaign, and working.
Total Estimated Cost to Build 100 Storage Units
Expense Category Low-End Estimate High-End Estimate
Construction (100 units) $300,000 $600,000
Land Acquisition $150,000 $500,000
Site Preparation & Utilities $50,000 $150,000
Permitting & Design $30,000 $100,000
Security & Technology $20,000 $50,000
Marketing & Operations $10,000 $25,000
Total $560,000 $1,425,000
So, the cost to build 100 storage units typically ranges from $560,000 to over $1.4 million, depending on your choices and location.
How Much Does a Storage Unit Cost Per Month?
Once your facility is operational, it’s important to understand how much a storage unit costs per month to customers, as this directly affects your return on investment.
On average:
- Non-climate-controlled 10×10 unit: $75 – $150/month
- Climate-controlled 10×10 unit: $120 – $250/month
With 100 units, even at a minor average rent of $ 100/month, you can potentially earn $ 10,000/month or $ 120,000/year in gross fare income. They can produce much more in Upskale features or high-demand areas.
Features of the Best Storage Units
If you want to attract long-term renters and maximize occupancy, offering some of the best storage units is essential. Here’s what top-performing storage facilities typically offer:
- Climate Control: Maintains stable temperature and humidity, ideal for electronics, documents, and furniture.
- Enhanced Security: CCTV, gated entry, and 24/7 monitoring give customers peace of mind.
- Drive-Up Access: Makes it easy for users to load/unload items.
- Flexible Leasing Options: Month-to-month, online payments, and no hidden fees appeal to a wide range of users.
- Clean and Well-Maintained Grounds: Cleanliness builds trust and retention.
Conclusion
Construction of 100 storage units is an important investment, but strong income potential and long-term value. The cost of construction of 100 storage units varies depending on design, location, and features, which range from $ 560,000 to $ 1.4 million. When designed keeping in mind the needs of the customer – clean, cruel, safety, and access – you are more likely to run a profitable operation. Understanding the average cost for the construction of 100 storage units, the cost of a storage unit per month, and what features the tenants see will help you make informed business decisions. Whether you are creating a small facility in a rural area or a multi-story climate-controlled complex in a metro city, careful planning will be the key to your success.
