Self Storage Feasibility Study in the Minneapolis-St. Paul-Bloomington, MN-WI Metro Area

Self storage in Minneapolis: the loan record

Minneapolis gets 32 loans approved for self storage, $30.2 million gross, from FY2017 to FY2026. Minneapolis, for self storage, ranks 7 of 513 in the area ranking. Within Minneapolis, self storage ranks 23 of 39. Minneapolis has a quotient of 0.64x, self storage below the national share. Minneapolis spans MN and WI, so both feed the counts.

Minneapolis size and franchise status

Minneapolis shows half its loans at or under $799,000, with the middle half spanning $361,000 up to $1.2 million. Minneapolis loans sit at 0.86x of the national class median. In Minneapolis, borrowers draw smaller loans than nationally. Minneapolis has 12 loans under 7(a). Minneapolis has 20 under 504. Minneapolis finances fixed assets through 504. In Minneapolis, 7(a) is the broader program. Minneapolis's split shows its financing mix. Minneapolis prints no franchise share. Too few Minneapolis loans support one. Minneapolis shows a smaller median. Minneapolis projects were modest in scale. In Minneapolis, budget comparisons should note it.

Minneapolis holders and counties

Holder in Minneapolis: Live Oak Banking Company, 7 loans, $10.1 million, SBA 7(a). Minneapolis SBA 504 holder: 7 loans, $8.3 million, Twin Cities-Metro Certified Development Company. Holder in Minneapolis: WBD, Inc., 6 loans, $4.2 million, SBA 504. Minneapolis names here hold or held loans. In Minneapolis, SBA rows say nothing of requirements. Minneapolis borrowers read the list as holders. Minneapolis self storage lenders get first tests. Minneapolis puts all 10 loans under Anoka County, MN.

Minneapolis years, floors and coding limits

Minneapolis prints only these fiscal years. In FY2019, Minneapolis had 5 loans worth $7.2 million. In FY2021, Minneapolis had 6 loans worth $4.0 million. Other Minneapolis years are withheld. Thin counts leave Minneapolis totals unknown. In Minneapolis, no blank is a zero, and Minneapolis treats FY2026 as complete. Minneapolis floors follow Loan Analytics' own rule. That Minneapolis cohort holds fewer than 30 loans. The Minneapolis cohort covers FY2017 to FY2021 disbursements. So Minneapolis prints no cancellation floor. So Minneapolis prints no charge-off floor. Minneapolis blanks are no zero. Minneapolis blanks are no clean book. Each Minneapolis rate is a floor. Minneapolis borders come from the July 2023 list. Minneapolis places each loan by project county. Minneapolis drops loans with unplaceable counties. Minneapolis note: RV and boat storage cannot be separated from self storage, so Minneapolis counts take in both kinds of facility.

Minneapolis: testing a self storage project

Minneapolis modelling starts from the $799,000 median, against the project in Minneapolis. A self storage study in Minneapolis sets street rates and occupancy at competing facilities against the rate the new one must achieve. In Minneapolis, lease-up is the long stretch, so the study shows debt service covered while units fill slowly. A Minneapolis lender will ask about unit mix, climate control and access, since each changes both construction cost and the rent a unit earns. Daniel Smith, MAI, signs every Minneapolis self storage study. For Minneapolis, demand and cost are tested. In Minneapolis, coverage and value are tested. Minneapolis borrowers are promised no approval here.