Owning a storage facility often sounds like easy money – you provide the space, and people pay you monthly to store it. Simple, right? The reality is that it’s not. There’s constant maintenance, fluctuating occupancy rates, people who abandon storage lockers and rooms full of things, and utility and security costs. All these things can turn what looks like passive income into a full-time job and money pit.
So, is it time to sell? Read on to consider your options, the benefits of selling up, and the easiest way to sell so you can move on as soon as possible.
Why sell your storage facility?
Here are some of the most common reasons storage businesses choose to sell:
- Maintenance costs are too high
- Profit is too low after all other costs while competing with big brand names
- You are tired of your life revolving around other people’s needs
- Occupancy rates are low
- Utility costs are too high
- Security needs upgrading, but you don’t have the cash to do so
The Benefits of Selling Your Storage Facility to a Professional Property Buyer
When it comes to selling your storage facility, opting to sell to a professional cash buyer like us can offer you a whole host of advantages:
- Speed of sale: Time is a valuable resource, and also means money when you’re keeping up on the costs of maintaining your storage facility. Selling to a cash buyer is much faster than selling through traditional methods because there’s no need to market the property or try to prove its potential. We can buy your property in just a matter of weeks.
- You don’t need to hide its flaws: Selling an asset like a business or storage facility means you need to market its potential – but if you feel your business has little value to offer, you can feel like you’re fighting an uphill battle. We buy property in as-is condition, so there’s no need for you to tidy up or do repairs prior to selling. We’ll assess the property as-is and give you a fair offer.
- Fewer costs: Selling any asset on the open market will come with costs, namely a real estate agent marketing the property. Real estate agents charge a percentage of the overall sale price for their work, which can be a significant portion of your sale.
- Discreet: Would you prefer to keep the sale private, rather than having to market your property publicly? We understand, and we are more than happy to help facilitate a discreet sale.
- Guaranteed buyer: Properties and businesses often go onto the market with no guarantee that they will sell. If there are no interested buyers, it will just sit and you’ll have to continue running it as you are. If you want to move on quickly, this may not be a good option for you. Selling to a company like us guarantees your sale.
The Process of Selling Your Storage Facility
Understanding the process of selling your storage facility can alleviate any uncertainties or concerns you have about selling your property. Here’s what the process will look like if you choose the traditional route:
Selling via a Traditional Sale
- Reach out to a commercial real estate agent and find one you like
- Give them all the details about the property and your business
- Prepare the property for pictures and viewings
- Your property will go “on the market” and your realtor will actively advertise your property
- You’ll have viewings sporadically (this can be over days, weeks, or months)
- If someone’s interested they’ll give you an offer, and you’ll negotiate what that includes
- The sale will then move forward, possibly waiting for your buyer to attain funding
- You’ll collect all necessary documentation and close
Selling to a Cash Buyer
We’ve simplified the selling process to make it as easy as possible for you:
- You reach out to us with details about the property (location, size, current occupancy (if applicable), and so on)
- We’ll do market research to assess the value of your property and give you our best offer
- We may view the property before giving you our final, no-obligation cash offer
- If you accept, we can move forward and close in just a matter of weeks
As you can see, selling your property traditionally can be a rocky road while selling to a cash buyer like us can give you certainty and a clear path to follow.
Selling Your Storage Facility: FAQs
What types of storage facilities do you buy?
We’re interested in all types of storage facilities, operational or not, regardless of size or condition. Our only limitation is we currently only purchase property within Massachusetts and other nearby areas of New England.
How fast can I sell my storage facility?
Speed is one of the key benefits of selling to us. While the exact timeline will depend on the specifics of your situation, we can often close deals within a matter of weeks.
Are there any fees involved in selling to you?
There are no hidden fees or unexpected expenses when you sell to us, and you can avoid the costs associated with selling on the open market.
What if my storage facility is not in good condition?
We buy properties in any condition. Whether your facility needs major repairs or is in perfect condition, we can make you a fair offer.
We’re Here to Help
If you’re considering selling up and moving on, we get it. We’re a professional property buyer that buys residential and commercial property in Massachusetts, New Hampshire, and Tampa Florida for cash, and that includes storage facilities. No matter your property’s condition, we can give you a fair, competitive cash offer that allows you to free yourself from the demands of your business.
To learn more or if you have any other questions, please don’t hesitate to contact us. We’ll be happy to talk you through the process and ensure you feel confident about your decision, whether that’s selling to us or not. To reach out to us with questions or for a cash offer for your storage facility, click here.