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U-Haul NNN Investor Hub | Cap Rate Trends, Credit Rating Trends, Lease Terms & Due Diligence

U-Haul

Last Year Cap

6.5%

This Year Cap

6.7%

Cap Change

0.3%

U-Haul – NNN Cap Rate Trend

Cap Rate Trends

wdt_ID wdt_created_by wdt_created_at wdt_last_edited_by wdt_last_edited_at Tenant Year Cap Rate
5779 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,020 6.5
5780 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,021 6.3
5781 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,022 6.0
5782 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,023 6.3
5783 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,024 6.6
5784 admin2 2026 04:17 AM admin2 2026 04:17 AM 7 Brew 2,025 6.6
Tenant Year Cap Rate
1031 Exchange
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Credit (what net-lease buyers care about)

Credit Snapshot

U-Haul

Cap Rates NNN
Last Year 6.5%
This Year 6.7%
Change 0.3%
S&P Rating CREDIT
Last Year NR
This Year NR
Change No change

U-Haul Net Lease: Secure, Essential Investment

U-Haul is one of the largest moving and self-storage companies in North America, operating an extensive network of moving equipment, self-storage facilities, and retail locations. This guide reviews cap rates, lease terms, tenant profile, and key due diligence considerations for buyers and sellers.

For 1031 exchange buyers, U-Haul Ground Lease Properties are important to compare against fee simple U-Haul assets, as lease structure can materially impact pricing, financing, and long-term resale value.

Investors often target U-Haul assets for:

  • Stable Income Potential
  • Essential Moving & Storage Business
  • Nationwide Brand Recognition
  • Attractive 1031 Exchange Compatibility

U-Haul Ground Lease Properties require close comparison of rent escalations, remaining lease term, extension options, landlord responsibilities, and residual land value versus fee simple ownership.

U-Haul Ground Lease Properties for 1031 Exchange Buyers

U-Haul Ground Lease Properties often trade differently than fee simple U-Haul assets. Buyers should carefully evaluate lease structure, remaining lease term, renewal options, landlord responsibilities, rent escalations, and reversion rights to understand long-term risk and return.

U-Haul Investment Market Statistics

AVERAGE SALE PRICE

$25,000,000

BUILDING SIZE

3,000 – 5,000 SF

AVERAGE NOI

$1,500,000

LAND

3.0 – 12.0 acres

$/SF RANGE

$100 – $220

LEASE TERM SHOWN

20 years

U-Haul Investor Snapshot (Quick Facts)

Origins & Growth (Past)

  • Founded in 1945 as a trailer rental business
  • Expanded across the U.S. and Canada
  • Built an extensive moving equipment network
  • Added self-storage facilities nationwide
  • Invested in fleet modernization and technology
  • Became North America’s leading moving and storage company

Where U-Haul Stands Today

  • Extensive North American network
  • Leading moving & storage provider
  • Millions of annual rentals
  • Primarily corporate-operated locations
  • Expanding self-storage portfolio
  • Focus on fleet modernization and efficiency

 

Where U-Haul Stands Today

  • Digital reservations
  • Fleet modernization
  • Online self-storage
  • Better customer experience
  • Network expansion
  • Operational efficiency
  • Benefiting from moving demand

Why investors buy U-Haul NNN Properties or U-Haul ground Lease Properties?

Pros (what buyers like)

  • Strong national brand
    Well-established leader in moving and self-storage
  • Essential business model
    Demand driven by moving, relocation, and storage needs
  • Strategic real estate
    Large sites in high-traffic commercial locations
  • Attractive lease structures
    Long-term NNN or ground leases appeal to passive and 1031 exchange buyers

Cons (what can bite you)

  • Lease structure variability
    Some assets are modified NNN with landlord responsibilities
  • Large, specialized facilities
    Purpose-built properties can be difficult to re-tenant
  • Limited rent growth
    Some leases include minimal or fixed rent escalations
  • Location-dependent performance
    Demand varies based on local moving and storage market conditions

Find out more

U-Haul NNN, U-Haul Net Lease, U-Haul Ground Lease, U-Haul Investment, U-Haul Cap Rate, U-Haul Real Estate, U-Haul Lease Term, U-Haul Investment Property, Self Storage NNN, Moving Company Real Estate, NNN Property, Ground Lease, Cap Rates, Tenant Credit, 1031 Exchange

U-Haul Background & History

U-Haul is one of the largest moving and self-storage companies in North America, operating a nationwide network of moving equipment, self-storage facilities, trailer rentals, and retail locations. Founded in 1945, the company has grown into a leading provider of do-it-yourself moving and storage services through decades of expansion and investment in its owned real estate portfolio.

Today, customers rely on U-Haul for truck and trailer rentals, self-storage, moving supplies, and related services. Demand is driven by residential moves, business relocations, college students, military transfers, and life events that create recurring needs for moving and storage.

The company continues to invest in modernizing its fleet, expanding self-storage capacity, and enhancing digital reservation platforms to improve customer convenience and operational efficiency.

Why U-Haul Matters to NNN Investors

U-Haul is a nationally recognized brand with an extensive portfolio of strategically located moving and self-storage facilities across the United States and Canada. Its business model is built around essential relocation and storage services that generate recurring demand regardless of economic cycles.

Many U-Haul properties occupy highly visible commercial sites with convenient access to major roads and population centers. The combination of valuable real estate, an established operating platform, and long-term occupancy makes many U-Haul properties attractive to net lease and 1031 exchange investors.

What Buyers and Sellers Should Evaluate

For investors evaluating U-Haul NNN properties, a U-Haul net lease, or a U-Haul ground lease, the investment thesis is typically centered on real estate quality, lease structure, and long-term operational strength. Buyers generally focus on remaining lease term, rent escalations, landlord responsibilities, and the long-term viability of the location.

Common searches include U-Haul real estate, U-Haul cap rate, U-Haul lease term, U-Haul ground lease, and U-Haul investment properties. Ultimately, U-Haul net lease value is driven by site-specific factors, lease economics, local moving and storage demand, and the property’s role within the company’s broader operating network.

Because U-Haul facilities are purpose-built assets, buyers and sellers should carefully evaluate property condition, visibility, access, surrounding demographics, nearby competition, redevelopment potential, and lease language before underwriting or pricing an acquisition. Long-term cash-flow durability and exit strategy should also be considered when assessing investment value.

Corporate vs. Franchise | Store Count

U-Haul operates under a fully corporate-owned model, with no franchised locations. For NNN and ground lease investors, this means leases are generally backed by the corporate entity, providing a clear lease obligor and reducing credit ambiguity. Across the U.S. and Canada, U-Haul operates more than 2,000 company-owned and managed moving, storage, and retail locations, supported by thousands of independent dealers. For investors, lease structure, real estate quality, and location fundamentals typically matter more than the total number of locations.

U-Haul Financial Snapshot

U-Haul Holding Company operates as a publicly traded company and generates billions of dollars in annual revenue from its moving equipment rentals, self-storage facilities, trailer rentals, and related services. The company owns a substantial real estate portfolio and maintains strong operating cash flow supported by recurring demand for moving and storage services. For net lease investors, U-Haul's financial strength, extensive owned real estate, and established operating platform are key factors when evaluating lease reliability and long-term income stability.

U-Haul Lease Types

Most single-tenant U-Haul properties are structured as long-term NNN or ground leases, although lease terms vary by property. While many assets are marketed as NNN leases, some may be modified NNN or NN leases, with limited landlord responsibilities for items such as the roof, structure, or capital repairs. As a result, buyers should carefully review lease language, expense responsibilities, rent escalations, renewal options, and remaining lease term before underwriting and pricing the investment.

our team of experts are here for you

Our team helps investors evaluate NNN properties with practical, market-based guidance. In addition, we support buyers and sellers with lease review, pricing analysis, and due diligence strategy.

Whether you are comparing U-Haul ground lease properties or fee simple U-Haul assets, we can help you review the details that affect risk and long-term value. As a result, clients can make more confident decisions based on lease structure, location quality, and investment goals.

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