The short answer: Sold storage facilities ran at a $990,000 median price on BizBuySell 2021–2025 transaction data, with the realistic band at ~$500,000 to $2.5M+ depending on whether the real estate is included. Price = owner earnings × the 3.36× median multiple (quartiles 2.61–4.24×). With an SBA 7(a) loan you need a 10% equity injection on the total project cost, about $100K on a $1M facility, and up to half can be a standby seller note, so your own cash can be as low as ~$50,000 plus closing costs and reserves. Run it in the valuation calculator.
What storage facilities actually cost
Sold-deal data, not asking prices, is the honest yardstick here. The 2021–2025 sold benchmarks:
| Benchmark | Revenue | Owner earnings | Price |
|---|---|---|---|
| Median sold facility | $1,653,526 | $332,776 | $990,000 |
| Smaller, business-only deals | varies | varies | from ~$500K |
| Property-included or multi-site | varies | varies | $2.5M+ |
Sales closed at about 92% of asking (median ask $1,085,000) after a median 144 days on market, slower than most Main Street listings because the diligence runs property-grade. The first question behind any quoted price: does it include the real estate? The same cash flow trades at a very different total with the land under it.
How the price is set: the multiple
Storage deals price off owner earnings × a multiple. The sold-deal median is 3.36×, with the middle quartiles between 2.61× and 4.24×.
| Multiple | Implied price | When it applies |
|---|---|---|
| 2.61× (bottom quartile) | $869,000 | Weak occupancy, deferred maintenance, short remaining upside |
| 3.36× (median) | $1,118,000 | Typical stabilized facility at collected market rates |
| 4.24× (top quartile) | $1,411,000 | High occupancy, expansion room, property included or priced well |
Same earnings, a $542,000 swing, set by occupancy quality, the supply pipeline nearby, and what the property needs. See the sourced ranges on the self-storage multiples data page and the mechanics in valuation.
The listing quotes advertised occupancy at advertised rates. The price should follow the rent roll and the deposits.
The down payment and the full capital stack
Under SBA 7(a) rules, a change of ownership needs a minimum 10% equity injection, calculated on the total project cost, the price plus financed fees, not on the loan amount. Up to half of it can be a seller note on full standby, and the injection cannot come from borrowed funds. The worked stack on a $1,000,000 self-storage:
| Source / use | Amount | % of price |
|---|---|---|
| SBA 7(a) bank loan | $900,000 | 90% |
| Your cash injection | $50,000 | 5% |
| Seller note (full standby) | $50,000 | 5% |
| Purchase price | $1,000,000 | 100% |
| + Est. closing costs & fees (financed) | ~$35,000 | |
| + Working-capital reserve | $40K–$60K |
The honest cash to close is the ~$50,000 injection plus reserves, not the full million. Where the real estate is part of the deal, the property is appraised and financed alongside the business, the injection still applies to the total project cost, and the timeline stretches for the appraisal and environmental review.
Does the deal cash-flow?
At $332,776 of owner earnings and roughly $140K of annual debt service on a $935K financed total, coverage sits near 2.4×, comfortable. Occupancy erosion is what moves it, so stress the number at 10% lower collected revenue. Check any structure against a DSCR of ~1.15× to 1.25× before you sign anything.
Costs buyers forget
- Property appraisal and environmental review, required where real estate transfers, and they set the closing timeline.
- SBA guarantee & packaging fees, a percentage of the guaranteed amount, usually financed.
- Legal & closing, purchase agreement, entity setup, lien and title work.
- Quality-of-earnings review, reconcile the rent roll to deposits before trusting the stated income.
- Deferred maintenance capex, roofs, doors, gates, and cameras are near-term cash, not part of the price.
- Working capital, the lease-up and seasonality buffer that protects year one.
Model your self-storage deal end to end
Price, down payment, loan payment, and take-home in one place.
Frequently asked questions
The sold-deal median was $990,000 on BizBuySell 2021–2025 data, with realistic deals from about $500,000 (business only) to $2.5M+ (property included or multi-site). Price is owner earnings times the 3.36× median multiple.
An SBA 7(a) change of ownership needs a 10% equity injection on the total project cost, about $100,000 on a $1M facility. Up to half can be a seller note on full standby, so your own cash can be as low as ~$50,000 plus closing costs and reserves.
On the total project cost: the purchase price plus financed fees, not the loan amount. On a $1M facility with ~$35K of financed costs, the 10% injection is roughly $103K, and it cannot come from borrowed funds.
Sometimes, and it changes everything: property-included deals price far above business-only sales, are financed with an appraisal and environmental review, and close slower. Settle what the quoted price covers before comparing it to any benchmark.
Sources
- Sold-deal benchmarks, BizBuySell Storage & Warehouse Valuation Benchmarks (2021–2025).
- Multiples, Acquisition Ace self-storage multiples.
- Financing structure & equity injection, SBA 7(a) program; SOP 50 10 8. See our SBA loan guide.
