Opening a self-storage facility comes down to three numbers: the building, the site work and finish-out around it, and the land. At A-Lert's current rates, the metal building itself runs $13 to $25 per square foot depending on type, and a full turnkey project runs $65 to $100+ per square foot before land and soft costs. For a small facility of about 100 units, that works out to roughly $650,000 to $1.5 million turnkey, plus land.
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Self-storage building costs per square foot
| Building type | Building cost per sq ft | Example: one 10x10 unit |
|---|---|---|
| Non-climate, drive-up | $13 to $17 | $1,300 to $1,700 |
| Enclosed boat & RV | $15 to $18 | n/a |
| Climate-controlled | $20 to $25 | $2,000 to $2,500 |
| Full turnkey project (site work, foundation, building, finish-out) | $65 to $100+ | Before land and soft costs |
A building-only price covers the metal building system. A turnkey price also covers site work, foundation and finish-out, which is why two quotes for the "same" facility can look very different.
What it costs by facility size
| Facility | Approx. building size | Turnkey estimate, before land |
|---|---|---|
| Small, about 50 to 100 units | 5,000 to 15,000 sq ft | $325,000 to $1.5M |
| Mid-size, about 150 to 300 units | 20,000 to 45,000 sq ft | $1.3M to $4.5M |
| Large or multi-story, 400+ units | 60,000+ sq ft | $3.9M+ |
Estimates apply the $65 to $100+ per sq ft turnkey range to each building size. Climate control and multi-story construction push a project toward the top of the range and beyond. For the unit-by-unit math, see how much it costs to build 100 storage units and the cost of a 10x10 unit.
What to budget for beyond the building
- Land: from about $50,000 to several million dollars, depending on market and site size. How much land you need depends on unit count and layout.
- Site preparation: typically adds 10 to 20% to the construction budget, more on sites with difficult soil or drainage.
- Permits and fees: usually $10,000 to $30,000 for a standard project, more where environmental review applies. See how self-storage permitting works.
- Climate control: about 50% more per sq ft than non-climate at the building level ($20 to $25 vs. $13 to $17).
- Multi-story construction: less land, but elevators, fire suppression and a heavier structure.
- Soft costs: design, financing, insurance, marketing, management software and working capital for the lease-up period. See financing a self-storage facility.
Build vs. buy an existing storage facility
Buying an existing facility gets you cash flow on day one, but you pay for the seller's stabilized income, and you inherit their site, unit mix and building condition. Prices range from several hundred thousand dollars for a small rural facility to many millions for a stabilized metro asset. Building lets you choose the market, design the unit mix for local demand, and capture the gap between construction cost and stabilized value. There is also a middle path: buy a property with room to grow and expand or convert it.
What you need to open a storage facility
- A market study showing demand, competition and achievable rents.
- A site with the right zoning, access and visibility. See how to choose the right location.
- Financing: most owners combine equity with a construction loan.
- Design, engineering and permits.
- Construction, then a management, marketing and lease-up plan.
For the full sequence, read how to start a self-storage business, step by step.
Where single-source construction changes the number
Most self-storage projects buy the building from one manufacturer and hire a separate contractor to put it up, and each hand-off adds markup and schedule risk. A-Lert engineers, manufactures, supplies and installs self-storage buildings in-house from its 40,000 sq ft plant in New Braunfels, Texas, and manages the build end to end. One team owns the schedule, and when a project needs parts fast, they can sometimes ship in as little as one to two days.
Plan for the lease-up period
A new facility does not open full. Occupancy builds over time, and it commonly takes two to three years to reach a stabilized level of around 85% or higher. Budget working capital to cover debt service and operations until then. Read more on whether owning a storage facility is profitable.
Frequently asked questions
What is the minimum budget to start a storage unit business?
The lowest-cost entry point is a small, non-climate facility on inexpensive land. At the turnkey range of $65 to $100+ per sq ft, a 5,000 sq ft first phase (about 50 units) runs roughly $325,000 to $500,000 before land. Many owners start with one phase and add buildings as occupancy grows.
How much does it cost to start an RV storage business?
Enclosed boat and RV buildings run $15 to $18 per sq ft for the building itself, with site work and finish-out on top in a turnkey project. Open or covered parking needs less building but more land per tenant, so the land price matters even more.
Why do two quotes for the same facility differ so much?
Usually scope. A building-only quote covers the metal building system. A turnkey quote also covers site work, foundation and finish-out. Compare quotes line by line before you compare totals.
Is climate control worth the extra cost?
Climate-controlled buildings cost about 50% more per sq ft at the building level. In markets with heat, humidity and a strong renter base, climate-controlled units can command higher rents, which is why many owners build a mix.
Is land included in these estimates?
No. Land varies from about $50,000 to several million dollars, depending on the market, so it is always budgeted separately.
