Broker Opinion of Value · Self-Storage

Free Self-Storage Broker Opinion of Value (BOV) Template: PowerPoint, Google Slides & AI

A self-storage broker opinion of value laid out for the owner: price estimate first, then the comps and income that support it, using the method that fits self-storage property.

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What makes a self-storage BOV different

Self-storage is a high-turn, small-ticket rental business. Buyers examine unit mix, occupancy by size, street versus in-place rates and ancillary income, so the document replaces the rent roll with a size-level occupancy table and rate history.

That is why this template does not reuse a generic deck. The questions owners ask first about self-storage property are specific, and the document should answer them without being asked:

• Did you value current income or stabilized income?
• How did you treat my rates compared with street rates?
• Which facilities did you compare mine with?

The metrics owners look for

The summary page of this self-storage BOV is built around six numbers. Show only the ones you can support with a source or a calculation.

• Price per net rentable SF
• In-place cap rate
• Physical occupancy
• Economic occupancy
• Street rate vs in-place rate
• Ancillary income

The property-data table beside them covers: net rentable sf and unit count, climate-controlled share, year built / expanded, site acreage and expansion land, management software and access control, tenant insurance or protection plan.

The self-storage-specific pages

Unit Mix and Occupancy by Size

Columns: Unit size, Type (climate / drive-up), Count, Occupied, Street rate, In-place rate, Delinquent. State the as-of date and where the figures come from.

Rate History and Revenue Management

Columns: Metric, Current, 12 months ago, Notes. Cite documents, not memory.

Comparables

Sale comps use these columns: Net rentable SF, Units, Sale price, Price per NRSF, Cap rate, Occupancy at sale, Year built. Rent or rate comps use: Facility, Unit size, Type, Street rate, Rate per SF, Promotions.

How a self-storage BOV is supported

Income approach on stabilized NOI with occupancy, street-rate and in-place-rate analysis, cross-checked with price per net rentable SF; separate in-place and stabilized value when the facility is in lease-up.

A broker opinion of value is not an appraisal and is not a substitute for one where an appraisal is required. The template says so on the summary page.

Back it up: documents to have ready

A self-storage BOV is only as credible as the documents behind it. Collect these before you publish figures.

Operations

• Unit-level rent roll from management software: Shows rates, move-in dates and delinquency by unit
• Rate history and rate-increase notices to existing customers: In-place versus street rates drive upside
• Aged receivables and lien-sale or auction records: Tests collections
• Web and call lead reports and marketing spend: Demand source
• Payroll and management agreement: Normalize expenses for a buyer's operating model

Revenue

• Tenant insurance or protection plan income and agreements: Ancillary income quality

Physical

• Roof, door and paving condition; fire and security systems: Capital needs

Compliance

• Zoning, certificates of occupancy and lien law compliance: Self-storage rules vary by state

Common self-storage mistakes

• Mixing physical and economic occupancy
• Quoting street rate as if existing customers pay it
• Counting tenant insurance income without agreements
• Skipping unit mix by size

Market data

The market page has rows for: supply of storage sf per capita, competing facilities within 3 miles, market street rates, population and household growth, renter and mover share, traffic count. Put the source and the date next to each one.

Use it with AI: Claude, ChatGPT, Gemini

Paste your deal facts and get a draft self-storage BOV in this structure. The prompt uses only the facts you give it and marks gaps as [TBD].

You are a commercial real estate marketing analyst helping a broker draft a Self-Storage Broker Opinion of Value (Self-Storage BOV).

Draft the Self-Storage BOV in the structure below. Use ONLY the facts I give you. Where a fact is missing, write [TBD: what is needed] instead of guessing.

STRUCTURE
1. Executive Summary: Price Estimate
   - Concluded value, low, high, effective date: [ ]
   - Price per net rentable SF: [ ]
   - In-place cap rate: [ ]
   - Physical occupancy: [ ]
   - Economic occupancy: [ ]
   - Street rate vs in-place rate: [ ]
   - Ancillary income: [ ]
2. Property Overview and Photos
   - Net rentable SF and unit count: [ ]
   - Climate-controlled share: [ ]
   - Year built / expanded: [ ]
   - Site acreage and expansion land: [ ]
   - Management software and access control: [ ]
   - Tenant insurance or protection plan: [ ]
3. Unit Mix and Occupancy by Size
   - Unit size: [ ]
   - Type (climate / drive-up): [ ]
   - Count: [ ]
   - Occupied: [ ]
   - Street rate: [ ]
   - In-place rate: [ ]
   - Delinquent: [ ]
4. Sale Comps Summary and Detailed
   - Columns: Net rentable SF, Units, Sale price, Price per NRSF, Cap rate, Occupancy at sale, Year built
5. Rent Comps Summary
   - Columns: Facility, Unit size, Type, Street rate, Rate per SF, Promotions
6. Income and Expenses
   - Current and proforma: [source and period]
7. Valuation Approach and Reconciliation
   - Method: Income approach on stabilized NOI with occupancy, street-rate and in-place-rate analysis, cross-checked with price per net rentable SF; separate in-place and stabilized value when the facility is in lease-up.
   - Weights and range: [ ]
8. Market Overview
   - Supply of storage SF per capita: [Value; source and date]
   - Competing facilities within 3 miles: [Value; source and date]
   - Market street rates: [Value; source and date]
   - Population and household growth: [Value; source and date]
   - Renter and mover share: [Value; source and date]
   - Traffic count: [Value; source and date]

RULES
- Use only facts the user supplied. Never invent property data, tenants, statistics, comps or quotes.
- If a fact is missing, write [TBD: what is needed] in its place.
- Every market statistic needs its source and date as given by the user; otherwise mark it [TBD: source and date].
- Show arithmetic for any figure you derive and flag it as calculated.
- Write in plain, factual US English. Avoid unsupported superlatives.
- Avoid this self-storage mistake: mixing physical and economic occupancy.
- Avoid this self-storage mistake: quoting street rate as if existing customers pay it.
- Avoid this self-storage mistake: counting tenant insurance income without agreements.
- Avoid this self-storage mistake: skipping unit mix by size.
- Apply only the adjustments and cap rates the user supplies; if none are given, ask.
- State that a BOV is not an appraisal and is not a substitute for one where an appraisal is required.
- Leave confidentiality and disclaimer text as [Insert the brokerage's counsel-approved language].

BEFORE YOU DRAFT
If essential facts are missing, ask me up to 8 short questions first, then draft once I answer.
If I say "just draft it", draft now and list every [TBD] at the end.

OUTPUT
Return the Self-Storage BOV as clean Markdown, one heading per section above, followed by a checklist of every [TBD] item and every number I should double-check against source documents.

MY DEAL FACTS
[Paste property details, financials, rent roll, comps, market notes and anything else here.]

Fill it from a real deal

With the IntellCRE MCP connector, your assistant can pull the property, its unit mix and rents, and its selected comps from IntellCRE before it drafts. Or let IntellCRE build the document from your deal files: try IntellCRE, free to start.

Frequently asked questions

Related templates

• All free Self-Storage templates
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