Big-Box Retail to Self-Storage Conversion Solver

Underwrite mezzanine steel structural infills, converting high clear heights into climate-controlled storage units, achieving $1.85/sq ft/mo rates.

Building Footprint & Conversion Capex

Vacant Retail Building Ground Footprint (Sq Ft)

Mezzanine Multiplier (e.g. 1.7x with 2nd level steel)

Average Storage Rent ($ / net rentable sq ft / mo)

Turnkey Retrofit Capex ($ / gross sq ft)

Stabilized Net Operating Income (NOI - 25% Opex)

+$1,093,028 / yr

Redeveloped Storage Asset Value (At 6.25% Cap)

$17,488,440 Value

Net Development Equity Created Above Capex

+$11,413,440 Equity Spread