What’s the best way to dig up info on self storage properties?
Any self storage guys/gals in the group? Trying to figure out the most effective/efficient way to get info on -  unit amount, RSF, etc to get offers out. Unlike traditional property types (office, retail, industrial) - this data isn’t always available/accurate in CoStar.
[{"id": "if9fjsk", "text": "Call the properties.Sometimes you gotta act like you are going to rent a unit and get rental rates. Sometimes they have this stuff on their website but it isn't always the case. \n\nSometimes they will be helpful if you just straight up ask their occupancy rate.", "replies": [{"id": "ifa47vh", "text": "As an appraiser this is what I have to do to get comps. The best way to find out occupancy is to ask how many units they have total, then later ask how many are available. You can do the math to calculate occupancy. Often times if you call and ask what their occupancy is they get huffy and shut down the conversation.", "replies": [{"id": "ifa6wxq", "text": "I'm an appraiser too. Sometimes you get the friendly old guy that will tell you everything. Then you got to make friends with him and send him a Christmas card so you can call him to get updated Occ% on his two properties everytime you do another self-storage appraisal.", "replies": [{"id": "ifagvxg", "text": "Back in my day, I at least offered market survey results to contacts to make it warm call instead of a cold call. This was also when I was doing monthly surveys instead of periodic updates.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "if9tlbt", "text": "Call the properties. If they\u2019re not busy, guys at the front desk aren\u2019t paid enough to care about protecting the owners interests, lol.", "replies": [{"id": "if9x9sd", "text": "Nice. I didn\u2019t think about that lol", "replies": [], "depth": 2}], "depth": 1}, {"id": "if9undp", "text": "Honestly there is a whole industry of consultants that do this work, you can find and meet them at industry conventions and shows and through contacts in the industry.  Shows like SSA and ISS are good for learning about the industry.", "replies": [], "depth": 1}, {"id": "if9w4wh", "text": "Yes. Message Me. I have over $4B of Self-Storage Debt &amp; Equity Execution experience under my belt. I started placing equity &amp; debt on other property types back in 2020 but storage is still my bread and butter.", "replies": [], "depth": 1}, {"id": "ifa5ufs", "text": "All the major brokerages publish SS quarterly reports for the top 50 or so markets. Also the property website has the unit mix (although not the exact # of each type) and prices online. \n\nAlso, file a FOIA request for the building\u2019s property tax appeals. They usually submit a rent roll and P&amp;Ls to the taxing authority.", "replies": [], "depth": 1}, {"id": "ifacd9o", "text": "Depends on the market \nI\u2019m in NYC\nExisting supply is all you have unless and until the administration changes. \nIndustrial areas where storage is permissible (c8 and higher) wants to preserve job creation - storage is not that at all", "replies": [], "depth": 1}, {"id": "ifaij72", "text": "As others have indicated. It depends on the area and market. There are some market data in top markets. When you get info.\n\nWhen you start diving into sub markets you can get estimates from market info \n\nBut if you are looking in small cities and towns, that means looking online for asking rent and calling to get details on occupancy and rent discounts. \n\nKeep in mind seasonal fluctuations. Some areas get higher occupancy and revenue during summer moving season since they also will sell boxes and rent moving equipment. Other areas might have higher winter occupancy with boat parking.", "replies": [], "depth": 1}, {"id": "ifax7cp", "text": "Self storage appraisal specialist here. You can call properties and they are likely to give you the unit count but probably not usually the RSF. When I first started doing these properties a lot I made an excel file of all my subjects showing the unit count, the GBA, the RSF, and the average unit size. So eventually I had a pretty large sample size of what the ratio between GBA and RSF was depending on the property class. So for comps if I\u2019m not able to get the unit count I can usually get a pretty close estimate based on my GBA and RSF ratio and average unit size.\n\nIf you\u2019re looking for stuff like occupancy rates, most properties will not give you that but I have a subscription to Reis which tracks most SS properties in primary and secondary markets where im at so I usually just go with what they say.", "replies": [], "depth": 1}, {"id": "iqivxid", "text": "It\u2019s definitely not everything you need but on Costar I search by properties that have financial info, this gives you their income and expenses if it has been collateralized by a CMBS. From double check just the taxes on the expense information it\u2019s accurate for the most part so that makes me assume the remainder of the info is accurate.", "replies": [], "depth": 1}]