Self-Storage Valuation • Section 15
2021 Self-Storage Almanac 137
Actual Rent (Occupied) Plus Market Rent (Vacant)
Billboard & Cell Tower Income Parking Income
Other Rental Income Ancillary Income
Economic Vacancy
Real Estate Taxes Property Insurance Utilities
Repairs & Maintenance Administration
$1,792 $1,846 $1,901 $1,958 $2,017 $2,078 $2,140 $2,204 $2,270
$397,660 $409,590 $421,878 $434,534 $447,570 $460,997 $474,827 $489,072 $503,744 $518,856 $534,422 3.00% $1,740
36,054 20,654 0
20,569 ($39,093)
$49,918 4,326
14,420 9,270
Off-Site Management (% of EGI) 5.00% 21,824 On-Site Management Advertising
Miscellaneous Ground Lease
Rent Growth (Income in place) Rent Growth (Market) Other Income Growth Economic Vacancy Expense Growth Ground Lease
Source: Compiled by NKF
70,000 5,000 250 0
14,935 22,478 72,100 5,150 258 0
37,136 21,273 0
21,186 ($40,265)
$50,916 4,456
14,853 9,548
15,383 23,153 74,263 5,305 265 0
38,250 21,911 0
21,822 ($41,473)
$51,934 4,589
15,298 9,835
15,845 23,847 76,491 5,464 273 0
39,397 22,569 0
22,476
40,579 23,246 0
23,151 ($42,718) ($43,999)
$52,973 $54,033 4,727
14,500
15,757 10,130 16,320 24,563 78,786 5,628 281 0
41,796 23,943 0
43,050 24,661 0
24,561 ($46,679)
44,342 25,401 0
25,297 ($48,079)
45,672 26,163 0
47,042 3.00% 26,948 3.00% 0
26,838 3.00% ($51,007) 3.00% 4,869
16,230 10,433 16,809 25,300 81,149 5,796 290 0
14,000 9,000
16,717 10,746 17,314 26,059 83,584 5,970 299 0
17,218 11,069 17,833 26,840 86,091 6,149 307 0
18,267 11,743 18,919 28,475 91,334 6,524 326 0
$59,656 2.00% 5,644 3.00% 18,815 3.00% 12,095 3.00% 19,487 3.00% 29,329
94,074 3.00% 6,720 3.00% 336 3.00% 0
$5,866 3.00% $2,338 3.00%
35,004 20,052 0
19,970 23,845 ($45,319) 26,056
($37,954)
($49,521)
2.00% $48,939 4,200
$55,113 5,015
$56,216 5,165
$57,340 5,320 17,735 11,401 18,368 27,645 88,674 6,334 317 0
$58,487 5,480
3.00%
Replacement Reserves (% of EGI) 1.00% $4,365 Near Term Capital Expenditure
$0 8.00%
3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 8.00% 8.00% 8.00% 8.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00%
3.00% 3.00% 8.00% 3.00% 3.00%
3.00% 3.00% 8.00% 3.00% 3.00%
3.00% 3.00% 8.00% 3.00% 3.00%
3.00% 3.00% 8.00% 3.00% 3.00%
3.00% 3.00% 3.00% 3.00% 8.00% 8.00% 3.00% 3.00% 3.00% 3.00%
$4,631 $4,769 $4,913 $5,060 $5,212 $5,368 $5,529 $5,695
$4,496
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