Records Storage KPIs.

Records / document storage is institutional physical-archive real estate — high-density warehouse space storing business records, media, and increasingly data-adjacent assets — distinct from consumer self-storage. Revenue is recurring storage fees per cubic foot plus retrieval/service activity, producing sticky, high-retention income (customers rarely move archives). Value tracks utilization, revenue per cubic foot, and retention. Ilora.ai ingests the storage-inventory and utilization report, the fee/retrieval revenue report, and the operating P&L, benchmarking revenue per cubic foot and retention against the sector leader.

13 definitions · Sector: INDUSTRIAL · Used by Ilora.ai specialist AI agents

NOI

Net Operating Income

Total revenue minus operating expenses (excludes financing and capital costs). The primary measure of property-level profitability.

NOI = Revenue − Operating Expenses

  • profitability
  • core
Cap Rate

Capitalization Rate

Net Operating Income divided by current property value. Expresses unleveraged annual yield as a percentage.

Cap Rate = NOI ÷ Property Value

  • valuation
  • core
DSCR

Debt Service Coverage Ratio

Net Operating Income divided by total annual debt service. Lender-required cushion measure; below 1.0 means NOI cannot cover debt.

DSCR = NOI ÷ Annual Debt Service

  • lending
  • risk
LTV

Loan-to-Value

Loan amount divided by property value. Lower LTV = lower lender risk.

LTV = Loan Amount ÷ Property Value

  • lending
  • risk
OER

Operating Expense Ratio

Operating expenses divided by gross revenue. Lower is better, but varies by property type (hotels run higher than triple-net retail).

OER = Operating Expenses ÷ Gross Revenue

  • efficiency
GRM

Gross Rent Multiplier

Property value divided by gross annual rental income. Quick valuation shortcut; less precise than cap rate.

GRM = Property Value ÷ Gross Annual Rent

  • valuation
  • shortcut
IRR

Internal Rate of Return

Annualized return on investment accounting for time value of money across the full hold period.
  • return
  • underwriting
CoC

Cash-on-Cash Return

Pre-tax annual cash flow divided by total cash invested. Measures the cash yield, not total return.

CoC = Annual Cash Flow ÷ Total Cash Invested

  • return
DCF

Discounted Cash Flow

Valuation method that projects future cash flows and discounts them to present value at a chosen rate.
  • valuation
  • underwriting
TTM

Trailing Twelve Months

A rolling sum of the most recent 12 months. Smooths seasonality for KPI comparisons.
  • period
  • core
PUE

Power Usage Effectiveness

Total facility power divided by IT equipment power. Lower is better — 1.0 is theoretical perfect.

PUE = Total Facility Power ÷ IT Equipment Power

  • data_center
  • efficiency
SF Yield

Square Foot Yield

NOI per rentable square foot. Comparable measure across industrial buildings of different size.
  • efficiency
Clear Height

Clear Height

Distance from finished floor to lowest overhead obstruction. Drives storage cube and rent premium.
  • physical

Industry reference

How the records storage sector operates.

Comparable public REITs / operators

  • IRM (Iron Mountain)

Documents Ilora.ai ingests

  • Storage inventory / utilization report
  • Storage + retrieval revenue report
  • Operating P&L
  • Customer retention report

Frequently asked

Common questions about records storage.

How is records storage different from self-storage?
Records storage is institutional physical-archive space (business records, media) with recurring per-cubic-foot fees plus retrieval revenue and very high retention — archives rarely move. Consumer self-storage rents units to individuals/small businesses. Iron Mountain (IRM) is the public comparable for the records-storage class.