Self Storage Feasibility Study in Nevada

Large tickets in a mid-ranked state

Nevada's self storage record is shown here mainly through the size of its loans rather than its volume. Between FY2017 and FY2026 SBA approved 31 loans for the class, totalling $58.6 million, and the typical loan is $1.4 million, which is 1.45x the national median for self storage. On the state table Nevada sits at 29 of 50, while on Nevada's own class table storage lands at 14 of 39. The location quotient of 1.17x shows a modestly heavier reliance on the class than the national book. In short, the typical Nevada storage loan is larger than the national median for the class, within a state where storage ranks in the middle of its own class table.

Program mix and franchise share

The middle half of approvals runs from $444,500 to $3.1 million. Nevada's 31 storage loans split 17 to 14 between the 7(a) and 504 programs, with 7(a) slightly ahead. Franchise share is 6.5%, so a few facilities carry a brand. A borrower should decide early which program fits the project, because the two differ in how the real estate and the lender's share are structured. No lender list is shown for Nevada storage, so nothing is said here about which banks hold these loans.

Counties and the pattern over time

Clark County leads with 12 loans, Washoe follows with 8 and Elko has 6, so the loans are spread across several counties. Lyon recorded 2, with Douglas, Humboldt and Nye one each. Annual approvals ran from 5 in FY2017 and 5 in FY2020 to a high of 6 in FY2022, then fell to none in FY2023 and 1 in FY2026. That makes recent activity much thinner than the early years of the series, and a lender looking at a current request has few recent local precedents.

The coding limit and the outcome floors

SBA's data folds RV and boat storage into self storage, with no way to pull it apart; the activity lands in either the self storage or the other warehousing class, so the Nevada figures may include some vehicle lots. Cancellation and charge-off rest on cohorts too small for a stable percentage, so Nevada storage shows neither as a number or as a zero. Any rate shown on another page is a floor.

Supply, lease-up and the appraisal

A feasibility study for self storage in Nevada has to test supply first: the square feet of existing storage per household inside a few miles of the site, the occupancy and rate trends of the nearest competitors, and any pipeline of new facilities. Cost should be weighed against a loan that tends to land near $1.4 million, with land price, climate-controlled share and construction type separated. Lease-up is the central risk, so the coverage ratio belongs on a slow fill, with a harsher fill case run alongside, and it should say how far the stabilised income leans on fees and rate increases. An appraiser will value the facility on stabilised net income, so a forecast ahead of local evidence will be marked down.