Las Vegas self storage facilities for sale REMAX Las Vegas experts advising owners on asset disposition and financing needs at any level of the capital stack.
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Las Vegas Self Storage Facilities for Sale
Our Las Vegas self storage facilities for sale professionals are among the country’s most well-known self-storage REMAX Las Vegas real estate experts.
They have devoted their careers only to the industry.
We have established relationships with industry appraisal and management companies, investors, and lenders, which we’ll leverage on your behalf to maximize value.
Here’s how we help Las Vegas self storage facilities for sale companies like yours:
- Valuation and consulting on self storage properties for sale
- Equity and debt placements with national and regional capital sources
- Asset disposition marketing to national and regional investors in the industry
- Contract negotiations and due diligence to ensure successful self storage properties for sale transactions
Las Vegas Self Storage Facilities for Sale Real Estate
Meet the REMAX Las Vegas team
REMAX Las Vegas coordinates and integrates our efforts daily.
We are Las Vegas self storage facilities for sale industry veterans, focused only on this commercial property class.
Get to know your Las Vegas self storage facilities for sale real estate consultants.
Buying a self-storage facility is more complicated than you think–particularly if you want to make money.
Some essential traits separate winning facilities from losers, and that genetic code is hard to break.
Many people will tell you all about how to buy Las Vegas self-storage facilities for sale, to sell you a book, course, or boot camp.
But they have either limited or no experience.
The concepts we will tell you here are based on real-life information.
And it may be a lot different from what you’ve heard before.
50,000 population within 3 miles of the facility
The myth that you can build a Las Vegas self storage facilities for sale in the middle of nowhere and fill it up needs to be exposed.
Self-storage relies on people–people who need to store stuff.
In the absence of population, you have no demand.
You cannot build or buy self storage properties for sale in a small town of 5,000 people and be successful–at least not successful enough to make any money with it.
Population density is key.
25,000+ cars per day
Most self-storage customers find their storage facility by driving by it. It is a point of purchase decision.
Few people put a scientific study on where to store their stuff. Instead, they look at convenience and often pull into the first one they pass near their home or business.
As a result, it is also a myth that you can have a successful Las Vegas self storage facility for sale that is hidden from view or stuck on a two-lane street with no traffic.
$50,000 median household income
To pay for storage — $100 per month or more — the customer has to have discretionary spending ability.
If they struggle to cover their rent or mortgage, they lack a goodwill notice to add to their already working finances.
In addition, to need storage, they will have to have excess belongings.
Only people with higher incomes can amass enough material items to need to store them.<
400 units and up
There are some major fixed significant in a Las Vegas self storage facility for sale, the largest of which is the manager.
In addition, have enough units to support the staff to run the complex.
Contrary to what some folks may suggest, you cannot run a self-storage facility from a kiosk. And you cannot run it with no form of management.
That’s why small complexes in rural markets are always on the market for sale.
High barrier to entry
You may have noticed a vast supply of Las Vegas self storage facilities for sale units in almost every major city in the U.S.–and most midsize markets as well.
You must select a market that allows no further construction of self-storage facilities.
Otherwise, you may find that the occupancy can never rise above a certain level since more supply is constantly being brought onto the market.
These barriers to entry can include no correctly zoned property or a high price per square foot for suitably zoned land, which makes building a new facility uneconomic.
Not greater than 6 square feet of storage space per person in the market.
A market of 100,000 population should not have over 600,000 square feet of space available.
If it does, they overbuilt the area.
The best markets have ratios far less than 6.
Remember that the density of the market has a lot to do with this.
In areas with far denser housing, there is less land for self-storage facilities and a more significant population to support them.
San Francisco is highly dense and an excellent self-storage market, whereas Stockton, California, always suffers from vacancy.
REMAX Las Vegas – Las Vegas Self Storage Facilities for Sale
It isn’t easy to be a buyer of Las Vegas self storage facilities for sale these days.
This exuberant market makes it especially difficult to purchase a property that’ll be profitable to operate and relatively simple to exit.
The task becomes even more challenging when there are multiple offers on the Las Vegas self storage facilities for sale you’d like to buy.
You must establish yourself as the seller’s best choice to succeed in these situations.
(Sometimes, being the REMAX Las Vegas listing broker’s best choice is even more critical.
Self storage properties for sale sellers choose the buyer with whom to negotiate and to whom to ultimately sell their property based on price and several other criteria.
The best way to establish credibility is to have a track record of closed transactions.
It persuades have a previous self storage properties for sale seller tell the current one how great it was to work with you.
You will close the sale if everything about the property proves to be as represented.
Absent a REMAX Las Vegas recommendation—for example, this is your first deal—a self storage properties for sale seller will evaluate your offer based on other standards, including:
- The format and attention to detail in the offer you present. Short, sweet, and to the point—addressing every key deal point but not too detailed—is the way to go.
- They will request a certain length of inspection period and a list of due-diligence materials and financial records from the seller.
- The amount of the earnest deposit offered. Large deposits can trigger a seller’s interest in your offer because it indicates you’re serious about the deal.
- What happens to the earnest money after the inspection period is concluded? Will they increase it? Will some become non-refundable?
- The specificity of your finance contingency and what happens to the earnest deposit at the expiration of the finance contingency. Let the seller know you seek realistic and readily available loan terms.
- How long will the self storage properties for sale deal take to close escrow? Consider that you need 30 days for inspections, 30 more for the loan, and 15 days to close.
- Add it to complete documents include references from other lenders, letters of credit, proof of sources of funds, and perhaps even a commitment letter from a lender for the property you’re seeking to buy.
- Whether you are REMAX Las Vegas professionally represented. A seasoned Las Vegas self storage facility for sale REMAX Las Vegas broker will work with buyers. So, ensure you have the most experienced REMAX Las Vegas broker to provide guidance.
To be a successful buyer, you must understand these criteria and be prepared to address each with the seller to the best of your ability.
A seller wants to know if the buyer is able to and willing to finish the transaction.
Tell him your due diligence will comprise a series of investigations in search of reasons that support the purchase rather than a search for reasons you shouldn’t make it.
Las Vegas Self Storage Facilities for Sale Real Estate
Now that you have the Las Vegas self storage facilities for sale seller’s attention, it’s essential to get your offer accepted, a contract drafted and signed, and escrow opened.
Until the contract is signed, you have nothing.
I can’t tell you how many times a transaction appears to progress, only to have another more aggressive buyer swoop in at the last minute and steal the deal.
This is a high-stakes self storage properties for sale business, and no holds are barred in the competitive acquisition process.
When buying or selling Las Vegas homes for sale.
Contact an experienced Realtor!
Bob and Diana
Robert Ratliff RE/MAX Reliance
702-508-8262
Las Vegas Self Storage Facilities for Sale
