You have plenty of options when considering investing in commercial properties to make a passive income. You can invest in office and retail spaces in addition to industrial properties and other special-purpose buildings. There are multiple benefits to investing in those forms of commercial real estate. Another underrated investment that deserves more recognition is storage units. Below are several solid reasons to consider supporting a storage unit facility.
A Storage Unit Has Value
Storage units are popular for numerous reasons, but the main reason is their access and space. People often use a storage unit to help decrease clutter while moving. People who live in small apartments and don’t have much room in their apartment homes usually rely on using a storage unit.
Little Maintenance With Storage Units
When owning and operating a storage unit facility, the maintenance and upkeep are less than those compared to owning commercial real estate like warehouses, industrial buildings, offices, and other forms of commercial property.
Low Turnover With A Storage Unit
Hauling lots of goods or bulky items from one place to another is no fun. Instead, it’s a hassle that people want to do as little as possible. Plus, storage needs and organizing many possessions are often long-term. These two factors mean that a low percentage of people only rent for a few months. Over half keep their units for over a year, regardless of a rent raise.
Constant Cash Flow
Cash flow is how much you get or don’t get after paying for the mortgage, maintenance, etc., on your commercial property. When investing in storage units or any other property type, you want your cash flow to be positive. Storage units tend to have a positive cash flow because people need access to units on a 24/7 basis.
Trust the Professionals at Clagett Enterprises for Your Realty Needs
If you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, and development and consulting, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook and Linkedin.