What does it actually cost to build a self-storage facility in 2026?

In Episode 5 of The Smartest Hour in Self-Storage, TractIQ released its construction benchmark dataset in partnership with ARCO/Murray Design Build, covering 100+ completed projects, 27 states, nearly 20 million square feet of built storage, and a decade of hard cost data from 2016 through 2026.

This is submitted contract data, not estimates. Not memory. Not a number someone heard at a conference. We then take that data and put it to work on a real active listing, Texas Secure Storage in McKinney, Texas, a 32,000 square foot boat storage facility sitting on 16 acres of expansion land in one of the hottest submarkets in the Dallas-Fort Worth Metroplex. Broker Danny Cunningham walks through the deal, and then developer Rachel Parham breaks down exactly how she would approach the site, what due diligence looks like from day one, and why going under contract before calling your builder is one of the most common and costly mistakes in self-storage development.

What you will learn:

• How much it actually costs to build self-storage today by story count, state, and delivery type.
• Why sitework costs went from under 8% of a project budget in 2016 to nearly 20% today.
• What building efficiency really means and why the typical 3-story facility runs at 74% NRSF efficiency.
• Where costs are heading into 2027 as steel prices continue to rise.
• How to structure due diligence on a development or expansion deal before you go under contract.
• Why every deal with expansion potential requires a builder conversation before you submit an offer.
• How to use replacement cost data when evaluating acquisitions versus ground-up development.

Guests:

• Noah Starr, CEO and Lead Host, TractIQ
• Eric Fleps, Principal, ARCO/Murray Design Build
• Rachel Parham, President, Noah’s Ark Development
• Danny Cunningham, Senior Managing Director of Investments, Marcus & Millichap