Self Storage - Lease

[Josh Williams]

Hello All,

Newbie here - If this is in the wrong forum, please let me know.  

I have a friend, who recently purchased a strip mall in N. Georgia.  In the mall there are two grocery / box area's at about 33,000 square feet. It is pretty open and conditioned space.  The previous owner stated that one of the other parties interested in the property was planning on putting in Self Storage.  He knew I had been researching Self Storage as a potential new investment opportunity and reached out.. so yes, super new at this. All of the opportunities I've looked at so far, you own the property. 

A few high level questions:

1) Is leasing a common method for setting up conditioned self storage? 

2) If so, does anyone have any calculators / models / articles I can review? 

Any thoughts or guidance is appreciated. - Thanks!

[Henry Clark]

OP    Would only own the Storage facilities, never lease.  If you leased a facility from me and turned it into self storage.  When the lease came due, I would tell you to leave, or I will buy for 30% of value.

Your business doesn't travel.  And you renters won't move with you.