Self Storage Metropolitan Statistical Area Reports for 3rd Quarter 2017
S lf St e - orage e ropo an a s ca rea epor M t lit St ti ti l A R t
3 d Q t 2017 r uar er
Charlotte-Gastonia-Concord, NC-SC MSA Sample Size SSDS Sample Size 111 Sample as Percent of Total Facilities 45% Market Conditions Rentable SF Per Person Conclusion MSA 6.05 Under-Supplied National 6.50 Supply Ratios MSA Top 50 MSA
Diff
Performance at a Glance Households per existing self storage unit
9.9
7.6
2.3
Quarterly
Seasonal
Annual Change
3Q17 vs 2Q17
3Q17 vs 3Q16
Down -2.4% 0.0% Down -1.7%
No change
No change
Asking Rental Rate Physical Occupancy Rate Rent per Available SF (Rental Income)
0.0% Down -6.0% Down -5.3%
0.0% Down -6.0% Down -1.4%
No change
Self-Storage Performance Index (SSPI)®
Asking Rental Rates Non-Climate Controlled - Ground Levels Min
190
Median $47.00 $63.00 $96.00 $150.00 $215.00
Max
Average $46.36 $62.46 $94.28 $155.29 $205.22
140
25 SF 50 SF 100 SF 200 SF 300 SF
$34.00 $50.00 $79.00 $125.00 $170.00
$57.00 $75.00 $114.00 $194.00 $237.00
90
Base = 4 Quarter 2003
SDS Index
40
S
Rent per Available SF 100 SF
3Q16
3Q17
Change
MSA Index
National Index
Median Average
$0.6604 $0.6868
$0.6255 $0.7126
-5.3% 3.8%
Rent Per Available Square Foot (based on 100 square foot units)
Occupancy
3Q16 88.0% 82.6%
3Q17 82.0% 78.2%
Change
Physical Unit Occupancy Economic Occupancy
-6.8% -5.3%
$0 90 $0.40 $0.50 $0.60 $0.70 $0.80 .
Concessions (Percentage Offering)
3Q16 56.4% 74.2%
3Q17 36.9% 43.4%
Change -34.5% -41.5%
MSA
Nationwide
MSA - Income & Expenses Guide Medians MSA
National
$/SF 6 54 . 0.32 0.06 0.15 0.34 0.82 0.39 0.25 0.15 0.03 2.51
$/SF 11 35 .
MSA
National
Effective Gross Income
Physical Occupancy
1.12 0.12 0.35 0.46 1.04 0.67 0.27 0.21 0.07 4.31
Taxes
Insurance
% 80.0% 84.0% 88.0% 92.0% 76.0
Repairs & Maintenance
Administration
On-Site Maintenance Off-Site Maintenance
Utilities
Advertising Miscellaneous Total Expenses
38.4%
38.0%
Expense Ratio
MSA
National
The data and findings contained in this report are the result of operating data collected each quarter from more than 17,000 self- storage facilities located in the United States. Source: Cushman & Wakefield, Inc. This publication is intended solely for use by paid subscribers. Reproduction or distribution in whole or part without written permission is prohibited and subject to legal action. Copyright® 2017.
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