Has anyone ever thought of building additional onsite storage assuming demand necessitates it? Assuming one could finance it, the math is compelling. I know F&D tend not to like or add to the ancillary businesses but almost any additional revenue would be incredibly high margin. And storage should theoretically trade at tighter cap rates as it does standalone… which leads to another question… when evaluating deals, do people apply tighter caps to the storage NOI for parks that have them onsite?
Found a couple other older threads that were helpful but probably still worth dusting this one off. Should have also added that the park I’m debating adding more to (at the advice of seller), only has 15 storage units and is a 100 lot park.