With the year wrapping up we can see how the average price per square foot for 10x10 CC units compared to the average price per square foot for 10x10 NCC units in the top 25 markets.
From January 1st 2021 to December 18th 2021 the average price per square foot for a 10x10 CC unit was $1.40. Whereas from January 1st 2022 to December 18th 2022 average price per square foot was $1.46 a 4.2% increase YoY.
The same time frame for a 10x10 NCC saw unit a 2.45% increase from $1.23 per square foot to $1.26 per square foot.
The take away being that 10x10 CC units have been able to increase in rates YoY more than 10x10 NCC units. Showing that CC units seem to be more in demand than NCC units in the past year.
Pros and Cons of Self Storage SBA Loans vs. Traditional Loans
Decide wisely between SBA and traditional loans for your self-storage business. SBA offers lower down payments, but traditional loans provide lender reliability. Make informed investment choices for your storage facility.