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Self-Storage Property Valuation and Advisory


Are you confident in the decisions you need to make about your self-storage property? Do the parties involved need an independent opinion?

Self-storage properties, whether an individual facility or a portfolio with multiple facilities, are subject to potential:

  • Purchase or sale
  • Property tax dispute
  • Market rent negotiation
  • Financing or loan monitoring
  • Sale-leaseback
  • Insurance placement
  • Litigation support
  • Tax (including cost segregation) and/or financial reporting

Whatever your needs, American Appraisal can assist you by providing our independent and supportable opinion. We provide valuation and advisory services to owner/operators, attorneys, accountants, financiers, investors, developers and government jurisdictions.

Have you considered the impact of regional and national trends, in addition to local market volatility?
Market volatility in the self-storage sector is influenced by many factors, including:

  • Demographics
  • Economic conditions
  • Technology

American Appraisal’s consultants have backgrounds enabling proper consideration of these issues in our analyses.

Have you identified the probable market participants?

  • Of the over 50,000 self-storage properties in the United States, many are owner-operated single properties.
  • REITs have been active in this sector, expanding their geographic coverage through acquiring well- positioned owner-operated single properties that are deemed accretive to operations.
  • Privately owned portfolios of self-storage facilities also exist.

American Appraisal considers the highest and best use of your property in the context of the probable market participants and their respective purchasing power. Also considered is the time frame to complete the deal.

What we do
With regard to complex real property holdings, which may be operated as going concerns, we estimate the value of the assembled group of assets as a single economic unit. The valuation of tangible-asset-intensive going concerns, which can include elements of real, personal and intangible assets, often includes the application and reconciliation of all three appraisal approaches (income, sales comparison and cost). Our appraisers routinely provide the contributory values and, if appropriate, remaining useful lives of the various assets and liabilities that make up a specific property. This may include providing values for:

  • Land (operating, excess and/or expansion)
  • Easements
  • Air rights
  • Land improvements
  • Buildings and building components
  • Leasehold improvements
  • Personal property assets
  • Excess assets
  • Working capital
  • Intangibles
  • Debt

We consider the nuances of each property, including:

  • Specific cash flow characteristics, such as occupancy levels and the nature of the existing/ potential occupants
  • Opportunities to build up equity
  • Appreciation/depreciation (whether physical deterioration or functional or economic obsolescence) characteristics over a projected holding period, including careful consideration of capitalization rates and the property characteristics that impact these rates
  • The impact of taxes, including income tax considerations associated with different ownership structures and property tax increases or reductions upon transaction of a property

Carefully considering the specific facts and circumstances of each property helps ensure that its value is not understated or overstated, allowing the parties involved to make confident, logical decisions.

Why American Appraisal?
Our objective work efforts and reporting are tailored to each client, considering the purpose of each analysis. Clients have direct access to appropriate appraisers with industry and service know-how, and our senior staff includes qualified expert witnesses.

  • American Appraisal has been in business since 1896. We have been providing services to the self-storage sector for over 30 years.
  • American Appraisal’s real estate and related asset appraisers have diverse educational backgrounds (including engineering, real estate and accounting/finance) as well as diverse professional backgrounds.
  • Our appraisers hold various professional designations (including MAI, ASA, CMI, P.E. and MRICS) as well as state-specific licenses and certifications, and undergo frequent continuing education courses involving real property, personal property, intangible assets and going concerns.
  • Our appraisers utilize major income, transaction and cost analysis software programs. We conduct extensive research and our proprietary databases are international in design and content.
  • Our national presence ensures that local insights and accurate market data are incorporated into our analyses.
  • As a multiservice provider with a significant history of client service, American Appraisal provides an array of cost-effective, timely and efficient services for a variety of purposes for any specific holding throughout its entire life or ownership cycle.

 

 


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