The more storage units your self-storage facility has, the more profits it has the potential to generate. For this reason, many entrepreneurs looking to get their start in the recession-resistant self-storage industry choose to erect large-scale mini storage buildings with multiple storage units inside.
Say, for example, you want to open a self-storage business in a high-demand area and wish to include 100 units. While many different factors (building complexity, number and type of doors and windows, etc.) help determine the final cost of your self-storage building, two of the main price drivers are material costs and construction costs.
You should anticipate some fluctuation in terms of material costs from one materials provider to the next. At Mini Storage Outlet, our Regency Storage Systems metal mini storage buildings are available for between about $8.50 and $14 per square foot. So, how much you should expect to spend in materials to create 100 storage units will depend on the size of those units. Common storage unit sizes are available below alongside estimated costs associated with creating 100 of each.
100 10’x20’ storage units:
To create 100 10’x20’ storage units, you need to finance 20,000 square feet of space. Expect to pay somewhere between about $170,000 and $280,000 for materials to create a building with 100 10’x20’ units inside.
100 10’x10’ storage units:
To create 100 10’x10’ storage units, you need to finance 10,000 square feet of space. Expect to pay somewhere between about $85,000 and $140,000 for materials to create a building with 100 10’x10’ units inside.
100 5’x10’ storage units:
To create 100 5’x10’ storage units, you need to finance 5,000 square feet of space. Expect to pay somewhere between about $42,500 and $70,000 for materials to create a building with 100 10’x10’ units inside.
The cost of erecting your steel mini storage building may vary greatly based on who you choose to do the job. Contractors use different formulas to determine how much to charge you, so it often pays to get quotes from several erectors. That said, you want to be wary of selecting a building erector based on price, alone. Make sure to ask potential contractors other questions, too, such as how long they’ve been in business, how many mini storage buildings they’ve erected and how much experience their erection teams have before choosing to work with a particular metal building contractor.
Looking to open a self-storage business and need a quote for a steel mini storage building? Click here to check out current Mini Storage Outlet building specials or to request a quick building price quote.