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Last updated on Feb 8, 2023
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Self Storage Asset Classes

Learn what constitutes Class A, Class B, and Class C self storage properties.

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Self-Storage Asset Classes

  • Class A

    Class A self-storage properties represent the highest quality facilities in their market and MSA. These are generally newer properties built within the last 15 years with relatively low vacancy rates. Class A self-storage facilities have prime locations within their market and typically command the highest rent with little or no deferred maintenance issues.

  • Class B

    Class B properties are a step down from Class A and are typically older, and may or may not be professionally managed. Rental income is usually lower than with Class A storage assets, and there may be some deferred maintenance issues. Even so, Class B facilities are reasonably well maintained and are often seen as value-add investment opportunities to investors — who acquire these facilities at a higher cap rate than comparable Class A properties.

  • Class C

    Class C self-storage properties are typically more than 20 years old and are often located in less desirable locations. Class C properties usually require varying levels of renovation, typically regarding the building infrastructure. Class C storage facilities generally have the lowest rental rates in a market compared to similarly located Class A or B assets.

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