How Much Would It Cost to Build a 100 Unit Storage Facility in 2026
Understanding the total investment required for a 100-unit self-storage facility helps developers create realistic budgets and secure appropriate financing. Costs typically range from $500,000 for basic drive-up facilities in affordable markets to over $2 million for climate-controlled, multi-story developments in high-cost regions. This comprehensive guide breaks down every cost component so you can accurately estimate your project budget.
Quick Cost Summary: 100-Unit Storage Facility
Before diving into detailed breakdowns, here are the typical total project costs for different facility types:
| Facility Type | Total Cost Range | Cost Per Unit |
|---|---|---|
| Basic Drive-Up Only | $500K - $800K | $5,000 - $8,000 |
| Mixed Standard/Climate | $750K - $1.1M | $7,500 - $11,000 |
| Full Climate-Controlled | $1M - $1.5M | $10,000 - $15,000 |
| Multi-Story Premium | $1.4M - $2M | $14,000 - $20,000 |
| Full-Service Class A | $1.8M - $2.5M+ | $18,000 - $25,000+ |
These ranges assume a mix of unit sizes typical for a 100-unit facility (approximately 10,000-15,000 net rentable square feet) and include land, construction, and all soft costs.
Major Cost Categories for Storage Facility Construction
Land Acquisition Costs
Land represents 15-25% of total project costs, varying dramatically by location. For a 100-unit facility, you typically need 1-2 acres for single-story development or 0.5-1 acre for multi-story construction.
Typical land costs by market type:
- Rural/tertiary markets: $50,000 - $150,000 per acre
- Suburban secondary markets: $150,000 - $400,000 per acre
- Urban/primary markets: $400,000 - $1,500,000+ per acre
Beyond purchase price, budget for due diligence costs including surveys ($3,000-$8,000), Phase I environmental assessments ($2,500-$5,000), and geotechnical studies ($5,000-$15,000).
Site selection considerations affecting costs:
- Visibility from major roads (higher land cost but faster lease-up)
- Existing utilities and infrastructure (reduces site work costs)
- Zoning status (entitled land commands premium but eliminates approval risk)
- Topography (flat sites minimize grading expenses)
- Flood zone status (impacts insurance and may require elevation)
Hard Construction Costs
Hard costs encompass all physical construction expenses and typically represent 45-55% of total project budget. For a 100-unit facility, expect these ranges:
Building construction by type:
| Construction Type | Cost Range | Notes |
|---|---|---|
| Pre-engineered metal buildings | $25 - $40/SF | Most cost-effective for drive-up |
| Climate-controlled single-story | $45 - $65/SF | Includes HVAC and insulation |
| Multi-story steel frame | $55 - $75/SF | Elevator and corridor costs |
| Multi-story climate-controlled | $70 - $95/SF | Premium systems throughout |
| Concrete block construction | $50 - $70/SF | Regional preference in some markets |
Sample hard cost budget for 100-unit mixed facility (12,000 SF):
- Building shell and structure: $420,000 - $540,000
- Interior partitions and unit doors: $85,000 - $120,000
- HVAC systems (50% climate-controlled): $75,000 - $110,000
- Electrical and lighting: $45,000 - $65,000
- Fire suppression (if required): $35,000 - $50,000
Site Work and Infrastructure
Site improvements represent 10-15% of total costs and include all work outside the building envelope:
Typical site work expenses:
- Grading and earthwork: $30,000 - $80,000 (highly variable by topography)
- Paving and drives: $50,000 - $100,000 (8,000-15,000 SF of pavement)
- Utility connections: $25,000 - $75,000 (water, sewer, electric, gas)
- Stormwater management: $20,000 - $60,000 (detention, drainage)
- Perimeter fencing: $15,000 - $35,000 (6-8 ft security fence with gates)
- Landscaping: $10,000 - $30,000 (code requirements vary)
- Signage: $8,000 - $25,000 (monument sign plus building signage)
Difficult site conditions can significantly increase these costs. Rocky soil, high water tables, or contamination issues may add $50,000-$200,000 to site preparation.
Soft Costs and Professional Fees
Soft costs encompass all non-construction expenses and typically total 8-12% of project budget:
Professional services:
- Architecture and engineering: $25,000 - $50,000
- Civil engineering: $15,000 - $35,000
- Market feasibility study: $5,000 - $10,000
- Appraisal: $4,000 - $8,000
- Legal fees: $10,000 - $25,000
- Accounting: $3,000 - $8,000
Permits and fees:
- Building permits: $15,000 - $40,000 (varies widely by jurisdiction)
- Impact fees: $10,000 - $50,000+ (some jurisdictions exempt storage)
- Utility connection fees: $5,000 - $25,000
- Zoning/planning fees: $2,000 - $10,000
Financing costs:
- Loan origination fees: 1-2% of loan amount
- Construction interest (12-18 months): $40,000 - $100,000
- Inspection fees: $3,000 - $8,000
- Title and closing costs: $5,000 - $15,000
Technology and Security Systems
Modern storage facilities require significant technology investment, representing 5-10% of total project costs:
Security infrastructure:
- Access control system: $15,000 - $35,000 (keypads, smart locks, management software)
- Surveillance cameras: $20,000 - $45,000 (40-60 cameras with recording)
- Alarm systems: $8,000 - $15,000 (individual unit alarms optional)
- Lighting (security grade): $12,000 - $25,000
Management technology:
- Property management software: $3,000 - $8,000 (setup plus first year)
- Kiosk rental station: $8,000 - $20,000 (for unmanned operations)
- Website and online rental integration: $5,000 - $15,000
- Smart unit technology: $10,000 - $30,000 (optional Bluetooth locks, sensors)
Climate control systems (if applicable):
- HVAC equipment: $60,000 - $120,000 (for 50-100% climate control)
- Dehumidification: $15,000 - $30,000
- Monitoring and automation: $5,000 - $12,000
Detailed Cost Example: 100-Unit Mixed Facility
Here is a realistic budget for a 100-unit facility in a suburban secondary market with 50% climate-controlled units:
Project specifications:
- 100 units (12,500 net rentable SF)
- Single-story with partial climate control
- 1.5-acre site
- Standard security and technology package
| Category | Low Estimate | High Estimate |
|---|---|---|
| Land Acquisition | ||
| Land purchase (1.5 acres) | $225,000 | $375,000 |
| Due diligence | $10,000 | $20,000 |
| Hard Construction | ||
| Building (12,500 SF @ $45-60/SF) | $562,500 | $750,000 |
| Unit doors and partitions | $85,000 | $120,000 |
| HVAC (climate-controlled section) | $65,000 | $95,000 |
| Site Work | ||
| Grading and earthwork | $35,000 | $60,000 |
| Paving | $55,000 | $85,000 |
| Utilities | $30,000 | $55,000 |
| Fencing and gates | $18,000 | $30,000 |
| Landscaping and signage | $15,000 | $35,000 |
| Soft Costs | ||
| Architecture/engineering | $35,000 | $55,000 |
| Permits and fees | $30,000 | $60,000 |
| Legal and professional | $15,000 | $30,000 |
| Financing costs | $45,000 | $75,000 |
| Technology/Security | ||
| Access control and surveillance | $35,000 | $55,000 |
| Management systems | $12,000 | $25,000 |
| Contingency (5-7%) | $60,000 | $130,000 |
| TOTAL PROJECT COST | $1,352,500 | $2,055,000 |
This translates to approximately $13,500 - $20,500 per unit or $108 - $164 per rentable square foot.
Factors That Significantly Impact Total Costs
Geographic Location
Construction costs vary by 40-70% between the most affordable and most expensive markets:
Cost multipliers by region:
- Rural Midwest/South: 0.70 - 0.85x national average
- Suburban markets: 0.90 - 1.10x national average
- Mid-Atlantic/Pacific Northwest: 1.10 - 1.25x national average
- California urban: 1.25 - 1.50x national average
- Northeast metro: 1.35 - 1.60x national average
A $1 million project in suburban Texas might cost $1.5 million or more in the Bay Area or Boston metro.
Climate Control Percentage
Climate-controlled units cost 40-60% more to build than standard drive-up units:
| Climate Control % | Cost Increase vs. All Standard |
|---|---|
| 0% (all drive-up) | Baseline |
| 25% climate | +10-15% |
| 50% climate | +20-30% |
| 75% climate | +35-45% |
| 100% climate | +45-60% |
Markets with extreme temperatures, humidity, or affluent demographics support higher climate-controlled percentages. Analyze competitor facilities and market rates before committing to expensive climate-controlled construction.
Single-Story vs. Multi-Story Construction
Multi-story facilities cost more per square foot but can be economically advantageous on expensive land:
Single-story advantages:
- Lower construction cost per SF ($35-55 vs. $65-95)
- Simpler construction with shorter timeline
- Drive-up access preferred by many customers
- Lower ongoing maintenance costs
Multi-story advantages:
- Maximizes units on limited land (2-3x density)
- Better land cost efficiency in high-value locations
- Climate control more efficient in enclosed buildings
- Often permitted in commercial zones where single-story storage is not
Break-even analysis typically favors multi-story when land costs exceed $400,000-$600,000 per acre.
Financing Your 100-Unit Storage Facility
Understanding financing costs and options is essential for accurate project budgeting. Most developers finance 70-90% of project costs:
Loan Options for Storage Construction
SBA 504 Loans:
- Up to 90% financing (10% down payment)
- Rates: Prime + 2-3% (construction), fixed (permanent)
- Best for: First-time developers, owner-operators
- Timeline: 90-120 days
Construction-to-Permanent Loans:
- 75-80% loan-to-cost
- Single closing, converts to permanent financing
- Best for: Experienced developers with strong financials
- Timeline: 60-90 days
Conventional Construction Loans:
- 70-75% LTV
- Interest-only during construction, refinance at completion
- Best for: Multiple simultaneous projects
- Timeline: 45-75 days
For a $1.5 million project, expect to invest $150,000-$450,000 in equity depending on loan program, plus reserves for debt service during construction and lease-up.
Interest Reserve and Carrying Costs
Budget for 18-30 months of carrying costs from construction start through stabilization:
- Construction interest (12-18 months): $50,000 - $100,000
- Property taxes during construction: $8,000 - $20,000
- Insurance: $6,000 - $15,000
- Utilities during lease-up: $12,000 - $25,000
- Marketing: $10,000 - $25,000
- Management during lease-up: $15,000 - $35,000
Total carrying costs often add $100,000-$220,000 to project budget before reaching stabilized cash flow.
Cost Reduction Strategies
Value Engineering Options
Work with architects and contractors experienced in self-storage development to reduce costs without sacrificing quality:
- Optimize unit mix: Right-size units based on market demand analysis
- Phase climate control: Build shell for future HVAC addition if market uncertain
- Standard materials: Use proven, cost-effective building systems
- Efficient layout: Maximize rentable SF ratio (target 85%+ efficiency)
- Bundle contracts: Single general contractor vs. multiple subcontracts
Phased Development Approach
For larger land parcels, phased development reduces initial capital requirements:
Phase 1: Build 100 units, prove market, achieve stabilization Phase 2: Add 50-100 units using Phase 1 cash flow Phase 3: Complete buildout based on actual demand
This approach also demonstrates market viability to lenders for subsequent phases.
Estimating Your Project Costs
Use our commercial mortgage calculator to estimate monthly payments and cash flow projections for your storage development. Input your expected construction costs, loan terms, and projected rental income to analyze investment returns.
For a detailed project cost analysis specific to your location and facility type, contact our storage facility lending specialists. We can help you:
- Refine construction cost estimates for your market
- Identify appropriate financing structures
- Connect with experienced storage facility builders
- Analyze pro forma projections for lender presentations
Next Steps for Your Storage Development Project
Building a 100-unit storage facility requires careful cost estimation and appropriate financing to ensure project success. Whether your budget is $500,000 for basic drive-up storage or $2 million+ for a premium climate-controlled facility, accurate budgeting starts with understanding all cost components.
Recommended action steps:
- Research your target market to determine appropriate facility type and amenities
- Identify potential sites and estimate land acquisition costs
- Engage storage-specialized contractors for preliminary construction estimates
- Order professional market study to validate demand and pricing assumptions
- Develop detailed pro forma with conservative lease-up projections
- Apply for construction financing with comprehensive documentation
The self-storage sector continues demonstrating strong fundamentals with consistent demand drivers including household formation, downsizing, life transitions, and small business storage needs. Well-located facilities in undersupplied markets offer attractive risk-adjusted returns for developers who accurately budget and appropriately finance their projects.
Ready to discuss financing for your 100-unit storage facility project? Contact Clear House Lending today to speak with our self-storage construction lending specialists. We provide expert guidance on project costs, loan structuring, and financing options tailored to vertical construction projects of all sizes.
Disclaimer: Construction costs vary significantly based on location, site conditions, building specifications, and market conditions. The estimates provided in this article represent typical ranges as of 2026 and should be used for preliminary planning purposes only. Obtain detailed contractor bids and professional cost estimates for your specific project. Contact Clear House Lending for personalized financing guidance based on your individual situation.