National Realty Counselors serves property lenders, developers, investors, asset managers and owner operators with a specialty practice in this area.
“National Realty Counselors is our go-to company for self-storage valuation. They ‘built the better mouse trap’ when it comes to market analysis for this property type, particularly for proposed developments. With their extensive experience in feasibility studies and valuation, National Realty Counselors enables our bank to base its lending decisions on the best possible information.”
-MB Financial Bank, 2008
National Realty Counselors offers a market feasibility analysis that considers the demographic characteristics of a market area for a proposed or existing self storage property. This analysis carefully segments the impact of competing properties within the trade areas and quantifies the impact of their population overlaps as it relates to the overall demand and supply relationship within the trade area. With this information, developers, investors and lenders can make critical decisions with a high degree of confidence.
With this comprehensive market analysis, we are doing something more than just collecting data. We are providing valuable information using our unique approach that considers changing market areas and competitive environments. Our experience ranges from diverse portfolios to complex mixed use properties with self-storage components in barrier-to-entry locations. Kent D. Steele, CRE, MAI, FRICS has developed a methodology for allocation the intangible business asset value from the going concern in self-storage properties, which allows for satisfactory results in assessment appeals.
Specific real estate services offered by National Realty Counselors include:
- Market Feasibility Studies
- Absorption and Financial Projections
- Appraisal Services
- Litigation Services
Recent Self Storage Engagements
Algonquin, Illinois. Mr. Steele was engaged by a lender to prepare an appraisal for a self-storage property that was nearing the end of its phase one lease-up. Proposed phase two improvements also were included in the appraisal, which considered a dynamic absorption analysis of the remaining vacant phase one space and the additional phase two space. It included both climate-controlled and standard spaces.
Kankakee County, Illinois. NRC prepared appraisals for a four-property portfolio for a lender.
McHenry County, Illinois. Mr. Steele prepared an appraisal of an existing self-storage facility for an ad valorem assessment appeal. As part of the assignment, he allocated portions of the going concern value to the intangible business asset value and furniture, fixtures and equipment.