Tim Ryan is putting 'Cuse honed investigative skills to work Appraising Self Storage Facilities
Description
I'm joined by Tim Ryan, MAI, Senior Vice President at Newmark, to get a definitive, data-backed look at the self-storage market. Tim's career journey is fascinating, from his days at Syracuse University pursuing sports broadcasting to becoming a commercial appraiser and a leader on Newmark's National Self Storage Team .
Tim gives an insider's perspective on the challenges of appraising during the COVID "steroid era," where everyone was chasing sub-five cap rates . He breaks down how Newmark uses its vast, proprietary database, cycling through thousands of assets a year, to provide the solid foundation needed for accurate valuations.
What You'll Learn:
- The ICAP Fallout: How the removal of the ICAP tax benefit effectively killed new self-storage development in the New York metro area by removing multi-million dollar tax savings.
- The Expense Crunch: Insurance costs have doubled in the last three years, and rising property taxes are adding significant pressure to operating income .
- Market Status: The market is stabilizing, with a narrowing bid-ask spread and an increase in transactions observed in the second half of 2025.
- Consolidation: The industry is highly specialized, and mom-and-pop operators are increasingly being targeted for acquisition by a select pool of sophisticated buyers and REITs .
Connect with Thaddeus Campbell:
Email: thaddeus@s3.partners
Website: https://s3.partners/
LinkedIn: https://www.linkedin.com/in/itsthadcampbell/
Connect with Tim Ryan:
Email: tim.ryan@nmrk.com
Website: https://www.nmrk.com
This episode was brought to you by: https://www.kiwiconstruction.com
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