Asheville Self Storage Market Overview: Trends, Rates, and Investment Insights

Asheville, North Carolina, has become one of the Southeast’s most sought-after commercial real estate markets—and self-storage is leading the charge. With strong population growth, high occupancy rates, and limited new supply, the Asheville self storage market offers compelling opportunities for both seasoned investors and first-time buyers.

Why Supply is Limited

Developers face significant hurdles bringing new storage projects to market, including:
- Limited buildable land in prime corridors
- Zoning restrictions in residential and mixed-use districts
- Higher construction costs compared to secondary markets

This supply constraint makes existing Asheville self storage facilities more valuable and positions them for strong rent growth.

Asheville Storage Rental Rates (August 2025)

Market averages remain among the highest in Western North Carolina:
- 10x10 Non-Climate: $110–$135/month
- 10x10 Climate-Controlled: $145–$175/month
- 10x20 Non-Climate: $165–$195/month
- 10x20 Climate-Controlled: $220–$260/month

Local operators report 90%+ occupancy, with climate-controlled units commanding a 20–30% premium.

Cap Rates & Investment Outlook

Stabilized self-storage facilities in Asheville generally trade at 7%–8% cap rates, with premium properties selling lower. Investors are drawn to:
- Reliable cash flow in a high-occupancy market
- Appreciation potential from rising rates and limited supply
- Value-add opportunities like expansions and conversions

For those looking to enter the Western North Carolina self storage market, timing and site selection are key.

Thinking about buying, selling, or developing a self-storage facility in Asheville?
Century 21 Commercial Advisors specializes in self-storage investment in Asheville and across Western North Carolina. Contact us today for a no-obligation market analysis and property valuation.