How a storage facility gets valued
Value comes down to two things: the income the facility holds onto, and the price buyers pay for income like that. This calculator runs the link between them, value = annual NOI ÷ cap rate. Move either one and the estimate moves.
Start with money you'll really collect
Enter operating revenue after vacancy, discounts, and collection losses, then leave those losses alone so they aren't subtracted twice. For the expense ratio, use what it costs to run this property: taxes, insurance, management, maintenance, utilities, software, and marketing. Counting ancillary revenue? Count its costs too. The ratio in the field is an example number, not a forecast.
Back the rate with real sales
At an assumed 6.5% cap rate, $157,872 of annual NOI works out to $2,428,800. That shows the arithmetic; the rate itself has to come from deals you can point to. Look for closed sales with similar location, condition, unit mix, income definitions, and assets included. The range on screen moves your cap rate half a point each way, so read it as a what-if rather than a margin of error.
Check the number two other ways
Price per rentable square foot is handy for lining up similar facilities, as long as both measurements leave out space nobody can rent. What it would cost to build the same thing is a second check, though land, approvals, construction, and the months spent leasing up belong in that comparison. Buying below replacement cost is a point in a deal's favor, not the verdict.
The estimate is built from what you type; the tool doesn't pull local sales or write an appraisal. Read how to value a self-storage facility for the evidence behind each step. Then take your numbers into the operating calculator and the deal-analysis guide to test the loan, the repairs, and the cash you'd put in.
Once you can defend the NOI and the rate, you can defend the price to a seller or a lender.