221. Commercial Real Estate Tech: Neighbor | with Nate Smoyer

Key Takeaways:

Neighbor.com presents an opportunity for commercial real estate investors to monetize unused or underutilized space in their properties through vehicle and equipment storage. This can provide significant recurring income.

Storage occupancy rates remain high nationally, but some markets like the Sunbelt are leveling off while others like New York and California continue strong growth.

Converting office space directly to residential is challenging and unprofitable in most cases, but converting to self-storage has low capex requirements and high potential returns.

Multifamily and other commercial properties often have 20-30% of interior storage units and parking spaces sitting unused, representing an opportunity to work with Neighbor and increase net operating income.

Neighbor's platform allows operators flexibility through customization and month-to-month rentals while still providing predictable recurring income streams.