5 Options For How To List Your Own Self Storage Facility - For Sale By Owner
If you're considering selling your self storage facility but want to avoid paying realtors or brokers huge amounts in commission, you may be wondering what options you have? Some owners will take on the process themselves and will actually list their self storage facility "for sale by owner." While this option can take a lot more effort than just listing with a self storage real estate broker, it can also yield much higher profits by avoiding commissions.
If you're considering selling your self storage property on your own, we're including 5 options you may want to consider below:
Option 1: LoopNet
LoopNet is perhaps the most popular national listing site in the commercial real estate industry. Thousands of brokers use the site to list everything from office buildings to marinas and everything in between. This includes self storage listings.
Many potential self storage buyers are on this site often, so your listing should get good visibility if you take care to add adequate details and pictures to the listing. Also make sure that you have your books in order, and have Profit and Loss statements ready to send to prospective buyers. If you'd like buyers to keep this information to themselves, you can consider having them sign an Non Disclosure Agreement (NDA) in which they'll be required to keep the information you share private.
Keep in mind that Loopnet is not a free listing service, so it's important to plan for that expense.
Option 2: CREXI
CREXI is a website that may be less familiar to the masses than LoopNet, but is very familiar to commercial real estate investors and can be a great spot to list your mini storage facility. CREXI listings are also FREE which is a huge advantage. Some will also say that the interface on the CREXI website is also a bit more user friendly than LoopNet depending on preference, and it does have a dedicated Self Storage distinction for listings.
Option 3: Bizbuysell
BizBuySell is also a very popular site, but is much more geared towards selling businesses of many varieties and less to commercial real estate assets. Self storage falls into a bit of a "grey area" as it's a business but much of the business is in the associated real estate. Because of this, Bizbuysell can be a good place to list your self storage facility. However, keep in mind that this website has the tendency to attract "tire kickers" as people are toying with buying a business (oftentimes their first) and can have the tendency to waste your time if they're not serious buyers.
Option 4: List Self Storage
Listselfstorage.com is another option that specifically caters to self storage buyers and sellers across the country. The listings are free, but unfortunately the site is not user friendly. In addition, the website is crawling with ads which doesn't make it the most ideal site for interested buyers. That said, because the site is so specifically catered to self storage owners it can still be a decent option for listing your self storage property by yourself.
Option 5: Contact Us at Sell Self Storage Now!
If you're looking for an option to sell your self storage property without paying realtor fees and commissions, selling to a company like Sell Self Storage Now can be another great option. Dealing with experienced buyers can help to eliminate the confusion and frustration of trying to market the property on your own. Even if you're not sure if now is the right time to sell your self storage facility, we'd still love to talk to you! Reach out any time by either filling the form on our contact page or giving us a call at (717) 687-1883. We buy self storage properties throughout the east coast, and beyond!