Building Storage Units

Mini-Storage You want a long-lasting, low-maintenance building that will give your customers a safe and convenient place to store their valuables. Whether they’re looking for a space to house their collectibles, recreational vehicles or simply items that don’t fit in their home, Morton can construct a facility where they can be confident renting space. That’s because we use quality products and sound construction methods that far surpass industry standards. Because a variety of people utilize storage units, from students to renters and homeowners to business owners, Morton works with you to create the number of units and size of those units that best fit the needs of your community. Morton mini-storage units can also be customized both inside and out with features including steel, brick and stone siding, wainscot, overhead doors and a variety of insulation options. Browse some of our past projects to learn more or contact us to get started today! Latest Projects View More building storage units 1Mini-Storage You want a long-lasting, low-maintenance building that will give your customers a safe and convenient place to store their valuables. Whether they’re looking for a space to house their collectibles, recreational vehicles or simply items that don’t fit in their home, Morton can construct a facility where they can be confident renting space. That’s because we use quality products and sound construction methods that far surpass industry standards. Because a variety of people utilize storage units, from students to renters and homeowners to business owners, Morton works with you to create the number of units and size of those units that best fit the needs of your community. Morton mini-storage units can also be customized both inside and out with features including steel, brick and stone siding, wainscot, overhead doors and a variety of insulation options. Browse some of our past projects to learn more or contact us to get started today!building storage units 2As far as real estate investments go, self storage units are one of the safest bets. While more than half of other real estate investments fail, storage units have a 92% success rate. Mako Steel suggests the most successful storage units have between 83 and 93 percent occupancy rates, but states storage businesses can succeed with occupancy rates as low as 70 percent.building storage units 3Because a variety of people utilize storage units, from students to renters and homeowners to business owners, Morton works with you to create the number of units and size of those units that best fit the needs of your community. Morton mini-storage units can also be customized both inside and out with features including steel, brick and stone siding, wainscot, overhead doors and a variety of insulation options.building storage units 4In the self-storage business, using low-quality storage units can be a serious mistake. Cheaper quality units are not as durable and can be expensive to maintain. High-quality General Steel storage buildings offer increased resistance to external damage factors and normal wear from common use, resulting in an overall lower cost of ownership.building storage units 540% of the self-storage market demand climate controlled units, and it only makes sense to provide customers with what they want! Rent for climate-controlled units averages 25% to 60% higher, and yet costs an average of 10 cents per square foot (Curtis, 2004), yielding you a healthy return on your investment. Again, demographics will dictate just how many units you want to equip with climate control.building storage units 6Since demand far outweighs supply, pricing power resides with the operator in the mini storage business. However, according to sparefoot.com, potential storage space renters rank price as their top concern followed by security, location, access hours, cleanliness, friendliness and reviews. Oddly enough, price is also the primary concern of operators because it determines whether or not the initial investment makes sense. So lets investigate the rates for average sized storage units before we outline how much a typical mini storage project will cost.building storage units 7However, don’t worry; the rate you charge customers will also depend on rental prices in the area. Mako Steel estimates most storage units charge the same amount of rent per square foot as the area’s average apartment does. Furthermore, you can offset your land costs by building a multi-level storage unit.building storage units 8One trend never changes: change. Self storage thrives on change – people moving to new neighborhoods and new jobs, marrying or divorcing, starting small businesses, growing their families. During a recession, fewer units are being rented by homeowners moving from home to home or storing their possessions during a remodel. Instead, renters need storage due to home foreclosures, downsizing, or to make room to temporarily live with family. With the recession over in most areas, storage facilities are now seeing booming activity with increased home sales and moving activity.building storage units 9However, a major factor in what you will pay depends on the area in which you build your storage unit. The Self Storage Association reports that currently, 32% of storage units are in urban areas, 52% are in suburban areas, and 16% are in rural areas.building storage units 10What do mini storage building operators not want you to know about their business?That there’s enough demand for self-storage space to support more mini storage buildings every year, and that this year operators are expecting rental rates to increase even more. In fact, the average net income for a facility operator has increased 147% since 2014.building storage units 11Why is this important to mini storage operators?The Great Recession is the primary reason why the self-storage industry has been experiencing record growth. Those who were forced to downsize had to find a place to store their belongings, and more importantly for storage operators, renting a storage unit is much cheaper than a rate hike an apartment dweller is hit with for adding an extra bedroom or office space.building storage units 12The mini storage industry has been a top growth sector year after year for over 35 years. With 10% of the American population renting storage for an average of 10 months, vacancy levels are at historic lows, resulting in higher rent and swelling net incomes for American mini storage operators. This upsurge in net income is also driving cap rates upward annually which is enticing real estate investment trusts to search for mini storage businesses for sale throughout the country.building storage units 13At the rates above, it would take you approximately 4-8 months to pay off your initial investment in 500 mini storage units. However, according to NationalRealEstateInvestor.com mini storage properties used to take around 48 months to stabilize but today they are taking an average of 36 months to reach average occupancy levels. Therefore, to be conservative in your analysis, you need to account for the 36 months it will take to reach 87% occupancy and allocate enough capital to operate and pay yourself.building storage units 14The Answer:At the rates above, it would take you approximately 4-8 months to pay off your initial investment in 500 mini storage units. However, according to NationalRealEstateInvestor.com mini storage properties used to take around 48 months to stabilize but today they are taking an average of 36 months to reach average occupancy levels. Therefore, to be conservative in your analysis, you need to account for the 36 months it will take to reach 87% occupancy and allocate enough capital to operate and pay yourself.building storage units 15The cost of construction will also depend on the unit’s amenities, such as if the unit is climate controlled. Climate controlled units keep temperatures from dropping below 55 degrees or rising to more than 80 degrees, and while they cost more to build and operate, they can attract more customers. Many people need climate controlled units to preserve items mold or mildew can destroy.building storage units 16Here’s a great tool to help you find the right parcel of land for your project. Simply find the address, then input the mini storage building’s length and width. Next, tap place your building to see how your project would look while evaluating access points and setbacks.Finding the Right Piece of LandHere’s a great tool to help you find the right parcel of land for your project. Simply find the address, then input the mini storage building’s length and width. Next, tap place your building to see how your project would look while evaluating access points and setbacks.Note: This app works best on a desktop or tablet devicebuilding storage units 18Trachte Building Systems Headquartered in Sun Prairie, Wisconsin, we are one of the largest manufacturers of steel self-storage systems in the industry. After over 110 years of experience, we’ve mastered the art of developing smart building products designed, engineered, and customized to meet your needs.building storage units 19There’s nothing steady about the stock market, especially these days. But self storage is a tangible investment, one that stands the test of time – especially during a recession. It’s an industry streamlined for success. Plus, it’s built to generate income right from the start while appreciating over time.  And with a proven, experienced, smart self-storage building supplier on your side, profit potential has never been better.building storage units 2In today’s self storage market, be sure to do your research before building. As part of your preliminary work, check out how the competition is faring. To gain accurate information, it is best to hire a professional consultant to evaluate the area’s untapped potential and the need for self storage in the area where you plan to build. Find out:

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