Self Storage Feasibility Study in Oregon

National weight, larger tickets

Oregon self storage sits right at the national weighting, with a 1.00x location quotient, but its loans are bigger than average. The $1.2 million median loan runs 1.32x what the class borrows nationally, and the central half of the approvals run from $601,000 to $2.4 million. The file holds 38 approvals totaling $65.5 million over FY2017 to FY2026, the state ranks 23 of 50, and self storage holds the 18 of 39 slot among Oregon asset types. Cancellation and charge-off rates are both withheld.

A specialist lender dominates

Of the loans in this cell, 20 sit with Live Oak Banking Company totaling $39.1 million, more than half of the loans in the cell, so one lender holds most of the file. Evergreen Business Capital leads the 504 side with 6 loans totaling $7.3 million. Oregon used 7(a) for 28 loans and 504 for 10, and franchising is 2.6%. Deschutes County leads with 6 loans, and Clatsop, Columbia, Curry, Josephine and Umatilla counties have 3 each. The county list spreads across central, coastal and southern Oregon. Annual counts rose to 8 loans in both FY2021 and FY2025, and FY2026 added 5 loans with $14.8 million.

No cancellation or charge-off percentage is offered for Oregon storage, because Loan Analytics prints no rate on fewer than 30 loans and the cohorts here are thinner than that. The absence should not be read as zero. A reader wanting loss evidence should turn to the national class, where cohorts are larger.

Outdoor RV and boat lots have no code of their own and are filed with the heated indoor units. A study must say which product it proposes.

What an Oregon storage study should test

A storage study must answer where the demand comes from: households and businesses within a short drive, the existing storage supply and its rents and occupancy, and the absorption pace of a new facility. Zoning, permits, utilities and access should be resolved before a site is priced. Construction cost per net rentable foot, the balance between heated indoor and drive-up units, and the lease-up path must be tested against a loan near $1.2 million. Coverage of the payment should hold during a slow lease-up of the first year or more, and the appraisal for a new facility values stabilized income, so the study must show how and when the building reaches it.