Self Storage Property Loans and self storage property financing are now easier than ever to secure. Many lenders within our network have special self storage property loan programs in place for this very purpose.
Self Storage properties consist of mini-warehouses that are subdivided into a mixture of cubicles of generally small size. These spaces are designed primarily to be rented for small self-storage or noncommercial storage and may include some office and/or living space and may be climate controlled.
K2 Commercial Finance will work with you to create the strongest possible loan package for the purchase or refinance of a self storage property. As part of our underwriting process, we consider Market and Location considerations as well as the Property Conditions and Characteristics of the self storage property.
Market and Location Underwriting Considerations include:
“Safe” neighborhood near residential areas with high density
Adequate community services such as fire and police
Scrutinize properties located in ecconomically depressed, seasonal or resort-oriented areas.
Property Conditions and Characteristics Underwriting Considerations include:
The property should be designed and configured for ease of entry and egress by tenants, including access by 18-wheel tractor trailers.
Buildings of low quality construction or poor insulating capacity are discouraged.
Property should have adequate traffic exposure