Enter the unit size, monthly rate, and occupancy rate into the calculator to determine the value of a self-storage unit. This calculator helps to estimate the potential income from a storage unit based on these variables.
Self-Storage Value Formula
The following formula is used to calculate the self-storage value.
SV = US * MR * (OR / 100)
Variables:
- SV is the self-storage value ($)
- US is the unit size (square feet)
- MR is the monthly rate ($)
- OR is the occupancy rate (%)
To calculate the self-storage value, multiply the unit size by the monthly rate, then multiply by the occupancy rate divided by 100 to convert the percentage to a decimal.
What is Self-Storage Value?
Self-storage value is a measure of the potential income generated from a self-storage unit. It takes into account the size of the unit, the monthly rental rate, and the occupancy rate to provide an estimate of the revenue. This value is crucial for self-storage business owners and investors to understand the profitability of their units.
How to Calculate Self-Storage Value?
The following steps outline how to calculate the Self-Storage Value.
- First, determine the unit size (US) in square feet.
- Next, determine the monthly rate (MR) in dollars.
- Next, determine the occupancy rate (OR) as a percentage.
- Next, gather the formula from above = SV = US * MR * (OR / 100).
- Finally, calculate the Self-Storage Value (SV) in dollars.
- After inserting the variables and calculating the result, check your answer with the calculator above.
Example Problem :
Use the following variables as an example problem to test your knowledge.
unit size (US) = 100 square feet
monthly rate (MR) = $150
occupancy rate (OR) = 90%
