Strategic Storage Trust IV 10-K 20 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 06, 2020	Jun. 30, 2019
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
No Trading Symbol Flag	true
Entity Registrant Name	Strategic Storage Trust IV, Inc.
Entity Central Index Key	0001680232
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Public Float			$ 190,173,393
Entity File Number	000-55928
Entity Tax Identification Number	81-2847976
Entity Address, Address Line One	10 Terrace Road
Entity Address, City or Town	Ladera Ranch
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92694
City Area Code	877
Local Phone Number	327-3485
Document Annual Report	true
Document Transition Report	false
Title of 12(b) Security	None
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	MD
Documents Incorporated by Reference	Documents Incorporated by Reference: The registrant incorporates by reference in Part III (Items 10, 11, 12, 13 and 14) of this Form 10-K portions of its Definitive Proxy Statement for the 2020 Annual Meeting of Stockholders.
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		5,157,209
Class T Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,829,437
Class W Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,072,084

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Real estate facilities:
Land	$ 53,834,093	$ 26,485,823
Buildings	195,950,218	103,015,323
Site improvements	11,597,977	6,478,932
Real estate investment property, gross	261,382,288	135,980,078
Accumulated depreciation	(6,742,793)	(1,769,436)
Real estate investment property, net	254,639,495	134,210,642
Construction in process	608,203
Real estate facilities, net	255,247,698	134,210,642
Cash and cash equivalents	5,637,176	15,672,258
Restricted cash	128,177	123,182
Investments in unconsolidated real estate ventures	15,116,195	859,531
Other assets, net	7,500,324	6,919,074
Debt issuance costs, net of accumulated amortization	1,390,126
Intangible assets, net of accumulated amortization	3,449,999	4,158,073
Total assets	288,469,695	161,942,760
LIABILITIES AND EQUITY
Secured debt, net	109,105,977	63,777,861
Accounts payable and accrued liabilities	4,671,610	3,027,701
Due to affiliates	3,740,446	1,720,633
Distributions payable	1,139,137	603,497
Total liabilities	118,657,170	69,129,692
Commitments and contingencies (Note 7)
Redeemable common stock	5,793,896	2,093,989
Strategic Storage Trust IV, Inc. equity:
Preferred Stock, $0.001 par value; 200,000,000 shares authorized; none issued and outstanding at December 31, 2019 and 2018
Additional paid-in capital	196,355,036	102,710,956
Distributions	(17,155,027)	(6,106,597)
Accumulated deficit	(15,496,271)	(5,939,040)
Accumulated other comprehensive income (loss)	185,373	(96,670)
Total Strategic Storage Trust IV, Inc. equity	163,898,474	90,573,537
Noncontrolling interests in our Operating Partnership	120,155	145,542
Total equity	164,018,629	90,719,079
Total liabilities and equity	288,469,695	161,942,760
Class A Common Stock
Strategic Storage Trust IV, Inc. equity:
Common stock, value	4,757	2,964
Class T Common Stock
Strategic Storage Trust IV, Inc. equity:
Common stock, value	3,628	1,570
Class W Common Stock
Strategic Storage Trust IV, Inc. equity:
Common stock, value	$ 978	$ 354

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	200,000,000	200,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Class A Common Stock
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	315,000,000	315,000,000
Common Stock, shares issued	4,756,969	2,962,849
Common Stock, shares outstanding	4,756,969	2,962,849
Class T Common Stock
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	315,000,000	315,000,000
Common Stock, shares issued	3,627,582	1,570,411
Common Stock, shares outstanding	3,627,582	1,570,411
Class W Common Stock
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	70,000,000	70,000,000
Common Stock, shares issued	978,115	353,991
Common Stock, shares outstanding	978,115	353,991

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues:
Self storage rental revenue	$ 17,116,839	$ 5,736,613	$ 474,752
Ancillary operating revenue	131,502	27,415	652
Total revenues	17,248,341	5,764,028	475,404
Operating expenses:
Property operating expenses	5,887,316	1,851,022	205,357
Property operating expenses – affiliates	3,042,112	963,695	81,016
General and administrative	2,355,426	1,713,540	726,028
Depreciation	5,099,425	1,656,502	138,497
Intangible amortization expense	5,165,506	1,759,531	146,372
Acquisition expense - affiliates	652,167	666,416	187,641
Other property acquisition expenses	457,946	670,816	237,173
Total operating expenses	22,659,898	9,281,522	1,722,084
Operating loss	(5,411,557)	(3,517,494)	(1,246,680)
Other income (expense):
Interest expense	(2,867,178)	(907,602)
Interest expense – debt issuance costs	(1,264,178)	(434,029)
Other	(25,815)	139,172
Net loss	(9,568,728)	(4,719,953)	(1,246,680)
Net loss attributable to the noncontrolling interests in our Operating Partnership	11,497	11,668	15,925
Net loss attributable to Strategic Storage Trust IV, Inc. common stockholders	$ (9,557,231)	$ (4,708,285)	$ (1,230,755)
Class A Common Stock
Other income (expense):
Net loss per share—basic and diluted	$ (1.26)	$ (1.39)	$ (1.74)
Weighted average shares outstanding—basic and diluted	3,917,822	2,179,746	577,117
Class T Common Stock
Other income (expense):
Net loss per share—basic and diluted	$ (1.26)	$ (1.39)	$ (1.74)
Weighted average shares outstanding—basic and diluted	2,888,155	971,724	94,823
Class W Common Stock
Other income (expense):
Net loss per share—basic and diluted	$ (1.26)	$ (1.39)	$ (1.74)
Weighted average shares outstanding—basic and diluted	756,121	231,901	36,614

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (9,568,728)	$ (4,719,953)	$ (1,246,680)
Other comprehensive loss:
Foreign currency translation adjustment	282,043	(96,670)
Comprehensive loss	(9,286,685)	(4,816,623)	(1,246,680)
Comprehensive loss attributable to noncontrolling interests:
Comprehensive loss attributable to the noncontrolling interests in our Operating Partnership	11,469	11,766	15,925
Comprehensive loss attributable to Strategic Storage Trust IV, Inc. common stockholders	$ (9,275,216)	$ (4,804,857)	$ (1,230,755)

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($)	Total	Common StockClass A Common Stock	Common StockClass T Common Stock	Common StockClass W Common Stock	Additional Paid-in Capital	Distributions	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Total Strategic Storage Trust IV, Inc. Equity	Noncontrolling Interests in our Operating Partnership	Redeemable Common Stock
Beginning Balance at Dec. 31, 2016	$ 201,000				$ 1,000				$ 1,000	$ 200,000
Beginning Balance (in shares) at Dec. 31, 2016		44
Gross proceeds from issuance of common stock	42,413,894	$ 1,249	$ 424	$ 110	42,412,111				42,413,894
Gross proceeds from issuance of common stock (in shares)		1,248,210	424,613	109,749
Offering costs	(5,760,103)				(5,760,103)				(5,760,103)
Changes to redeemable common stock	(183,420)				(183,420)				(183,420)		$ 183,420
Distributions	(1,079,785)					$ (1,079,785)			(1,079,785)
Distributions to noncontrolling interests	(12,975)									(12,975)
Issuance of shares for distribution reinvestment plan	183,420	$ 5	$ 2	$ 1	183,412				183,420
Issuance of shares for distribution reinvestment plan (in shares)		5,322	1,615	897
Net loss attributable to Strategic Storage Trust IV, Inc.	(1,230,755)						$ (1,230,755)		(1,230,755)
Net loss attributable to the noncontrolling interests in our Operating Partnership	(15,925)									(15,925)
Ending Balance at Dec. 31, 2017	34,515,351	$ 1,254	$ 426	$ 111	36,653,000	(1,079,785)	(1,230,755)		34,344,251	171,100	183,420
Ending Balance (in shares) at Dec. 31, 2017		1,253,576	426,228	110,646
Gross proceeds from issuance of common stock	73,657,968	$ 1,654	$ 1,118	$ 237	73,654,959				73,657,968
Gross proceeds from issuance of common stock (in shares)		1,653,971	1,117,785	237,087
Offering costs	(7,606,292)				(7,606,292)				(7,606,292)
Changes to redeemable common stock	(2,019,737)				(2,019,737)				(2,019,737)		2,019,737
Redemptions of common stock	(1)	$ (1)							(1)		(109,168)
Redemptions of common stock (in shares)		(1,200)
Issuance of restricted stock	3	$ 3							3
Issuance of restricted stock (in shares)		3,000
Distributions	(5,026,812)					(5,026,812)			(5,026,812)
Distributions to noncontrolling interests	(13,890)									(13,890)
Issuance of shares for distribution reinvestment plan	2,019,737	$ 54	$ 26	$ 6	2,019,651				2,019,737
Issuance of shares for distribution reinvestment plan (in shares)		53,502	26,398	6,258
Stock based compensation expense	9,375				9,375				9,375
Net loss attributable to Strategic Storage Trust IV, Inc.	(4,708,285)						(4,708,285)		(4,708,285)
Net loss attributable to the noncontrolling interests in our Operating Partnership	(11,668)									(11,668)
Foreign currency translation adjustment	(96,670)							$ (96,670)	(96,670)
Ending Balance at Dec. 31, 2018	90,719,079	$ 2,964	$ 1,570	$ 354	102,710,956	(6,106,597)	(5,939,040)	(96,670)	90,573,537	145,542	2,093,989
Ending Balance (in shares) at Dec. 31, 2018		2,962,849	1,570,411	353,991
Gross proceeds from issuance of common stock	103,636,169	$ 1,697	$ 1,974	$ 612	103,631,886				103,636,169
Gross proceeds from issuance of common stock (in shares)		1,698,656	1,972,406	612,393
Offering costs	(10,169,608)				(10,169,608)				(10,169,608)
Reimbursement of offering costs by Advisor	157,025				157,025				157,025
Changes to redeemable common stock	(5,110,289)				(5,110,289)				(5,110,289)		5,110,289
Redemptions of common stock	(33)	$ (17)	$ (8)	$ (8)					(33)		(1,410,382)
Redemptions of common stock (in shares)		(17,309)	(7,507)	(8,022)
Issuance of restricted stock	2	$ 2							2
Issuance of restricted stock (in shares)		2,000
Distributions	(11,048,430)					(11,048,430)			(11,048,430)
Distributions to noncontrolling interests	(13,890)									(13,890)
Issuance of shares for distribution reinvestment plan	5,110,289	$ 111	$ 92	$ 20	5,110,066				5,110,289
Issuance of shares for distribution reinvestment plan (in shares)		110,773	92,272	19,753
Stock based compensation expense	25,000				25,000				25,000
Net loss attributable to Strategic Storage Trust IV, Inc.	(9,557,231)						(9,557,231)		(9,557,231)
Net loss attributable to the noncontrolling interests in our Operating Partnership	(11,497)									(11,497)
Foreign currency translation adjustment	282,043							282,043	282,043
Ending Balance at Dec. 31, 2019	$ 164,018,629	$ 4,757	$ 3,628	$ 978	$ 196,355,036	$ (17,155,027)	$ (15,496,271)	$ 185,373	$ 163,898,474	$ 120,155	$ 5,793,896
Ending Balance (in shares) at Dec. 31, 2019		4,756,969	3,627,582	978,115

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net loss	$ (9,568,728)	$ (4,719,953)	$ (1,246,680)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Depreciation and amortization	10,264,931	3,416,033	284,869
Amortization of debt issuance costs	700,699	434,029
Stock based compensation expense related to issuance of restricted stock	25,000	9,375
Changes in operating assets and liabilities:
Other assets, net	(1,037,678)	(1,120,211)	(624,094)
Accounts payable and accrued liabilities	455,803	1,861,423	273,480
Due to affiliates	87,001	21,572	23,419
Net cash provided by (used in) operating activities	927,028	(97,732)	(1,289,006)
Cash flows from investing activities:
Purchase of real estate	(127,595,543)	(126,347,130)	(12,910,000)
Additions to real estate facilities	(1,497,340)	(436,517)	(27,799)
Deposits on acquisitions of real estate facilities	(200,000)	(2,500,000)	(400,000)
Return of deposits on acquisitions of real estate		750,000
Investments in unconsolidated real estate ventures	(12,686,690)	(909,372)
Deposits on acquisitions of investments in unconsolidated real estate ventures	(457,904)	(560,313)
Return of (investment in) preferred equity method investment	150,000	(2,450,000)
Net cash used in investing activities	(142,287,477)	(132,453,332)	(13,337,799)
Cash flows from financing activities:
Proceeds from issuance of secured debt	6,000,000
Repayment of secured debt	(68,000,000)
Scheduled principal payments on secured debt	(120,975)	(19,423)
Debt issuance costs	(2,539,734)	(961,653)
Gross proceeds from issuance of common stock	103,199,471	74,542,378	42,215,956
Offering costs	(8,048,586)	(6,481,892)	(5,168,101)
Redemption of common stock	(744,608)	(26,955)
Distributions paid to common stockholders	(5,401,316)	(2,620,607)	(681,700)
Distributions paid to noncontrolling interest in our Operating Partnership	(13,890)	(14,469)	(11,225)
Net cash provided by financing activities	131,330,362	126,417,379	36,354,930
Change in cash, cash equivalents and restricted cash	(10,030,087)	(6,133,685)	21,728,125
Cash, cash equivalents and restricted cash, beginning of period	15,795,440	21,929,125	201,000
Cash, cash equivalents and restricted cash, end of period	5,765,353	15,795,440	21,929,125
Supplemental disclosures and non-cash transactions:
Cash paid for interest	2,834,412	621,675
Loan assumed during purchase of real estate facilities		2,322,606
Proceeds from issuance of common stock in other assets			197,938
Deposits applied to purchase of real estate	1,200,000
Deposits applied to purchase of unconsolidated real estate ventures	560,313
Construction in process included in accounts payable and accrued liabilities	174,961
Investments in unconsolidated real estate ventures in accounts payable and accrued liabilities	751,668
Offering costs included in due to affiliates	2,016,693	1,269,021	564,209
Offering costs included in accounts payable and accrued liabilities	45,556	46,038	27,793
Redemption of common stock in accounts payable and accrued liabilities	747,897	82,213
Distributions payable	1,139,137	603,497	216,415
Issuance of shares pursuant to distribution reinvestment plan	5,110,289	2,019,737	$ 183,420
Foreign currency translation adjustment	282,043	(96,670)
Other assets included in accounts payable and accrued liabilities		84,547
Revolving
Cash flows from financing activities:
Proceeds from issuance of secured debt	124,000,000	$ 62,000,000
Repayment of secured debt	$ (17,000,000)

Organization

Organization	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Organization	Note 1. Organization Strategic Storage Trust IV, Inc., a Maryland corporation (the “Company”), was formed on June 1, 2016 under the Maryland General Corporation Law for the purpose of engaging in the business of investing in self storage facilities. Our year-end is December 31. As used in this report, “we,” “us,” “our” and “Company” refer to Strategic Storage Trust IV, Inc. and each of our subsidiaries. Prior to June 28, 2019, both we and Strategic Storage Trust II, Inc. (“SST II”) were sponsored by SmartStop Asset Management, LLC (“SAM,” or our “Prior Sponsor”). On June 28, 2019, SST II, and its operating partnership, Strategic Storage Operating Partnership II, L.P., entered into a series of transactions, agreements, and amendments to its existing agreements and arrangements (such agreements and amendments are referred to collectively as the “Self Administration Transaction”), with our Prior Sponsor, and its affiliates, pursuant to which, effective as of June 28, 2019, SST II acquired the self storage advisory, asset management, property management, investment management, and Tenant Programs (as defined in Note 6) of SAM, along with certain other assets, including SAM’s sole membership interest in SmartStop Storage Advisors, LLC, which owned all of the membership interests of our advisor and our property manager. Immediately after the Self Administration Transaction, SST II changed its name to SmartStop Self Storage REIT, Inc. (“SmartStop”). As a result of the Self Administration Transaction, SmartStop REIT Advisors, LLC, an indirect subsidiary of SmartStop, became the sponsor (our “Sponsor”) of our Public Offering of shares of our common stock, as described below. Our Sponsor owns 100% of Strategic Storage Advisor IV, LLC (our “Advisor”) and Strategic Storage Property Management IV, LLC (our “Property Manager”). We have no employees. Our Advisor, a Delaware limited liability company, was formed on May 31, 2016. Our Advisor is responsible for managing our affairs on a day-to-day basis and identifying and making acquisitions and investments on our behalf under the terms of the advisory agreement we entered into with our Advisor (our “Advisory Agreement”) on March 3, 2017. A majority of our officers are also officers of our Advisor and our Sponsor. On June 15, 2016, our Advisor purchased 44 shares of our common stock for $1,000 and became our initial stockholder. Our Articles of Incorporation authorized 30,000 shares of common stock with a par value of $0.001. Our Articles of Amendment and Restatement, which were filed with the State Department of Assessments and Taxation of Maryland on January 17, 2017, authorized 700,000,000 shares of common stock with a par value of $0.001, of which 315,000,000 shares are designated as Class A shares, 315,000,000 shares are designated as Class T shares, and 70,000,000 shares are designated as Class W shares, and 200,000,000 shares of preferred stock with a par value of $0.001. Upon the filing of our Articles of Amendment and Restatement, our Advisor’s 44 shares of our common stock were classified as Class A shares. We are offering a maximum of $1.0 billion in common shares for sale to the public (the “Primary Offering”) and $95.0 million in common shares for sale pursuant to our distribution reinvestment plan (collectively, the “Public Offering”). On January 25, 2017, we sold approximately 360,577 Class A shares for $7.5 million to an institutional account investor pursuant to a private offering transaction (the “Private Offering Transaction”). Due to the proceeds raised in our Private Offering Transaction, there was not a minimum number of shares we needed to sell before accepting subscriptions for the Primary Offering. On March 17, 2017 (the “Effective Date”), the Securities and Exchange Commission (“SEC”) declared our registration statement effective and we commenced formal operations. As of December 31, 2019, approximately 4,396,000 Class A shares for gross offering proceeds of approximately $109.5 million, approximately 3,628,000 978,000 We may continue to sell shares in the Offering until the earlier of 180 days after the third anniversary of the effective date of the Offering, September 13, 2020, or the effective date of the registration statement for our follow-on offering (SEC Registration No. 333-236176), which we initially filed with the SEC on January 31, 2020. We also reserve the right to terminate the Offering at any time. We have invested the net proceeds from our Private Offering Transaction and the Public Offering primarily in self storage facilities consisting of both income-producing and growth properties located in the United States and Canada. As of December 31, 2019, we owned 22 operating self storage properties located in nine states (Arizona, California, Florida, Nevada, New Jersey, North Carolina, Texas, Virginia and Washington). As of December 31, 2019, we owned 50% equity interests in four unconsolidated real estate ventures in the Greater Toronto Area that are intended to be developed into self storage facilities, with subsidiaries of SmartCentres Real Estate Investment Trust (“SmartCentres”) owning the other 50 % of such entities. In addition, we had entered into two other contribution agreements with respect to two separate tracts of land in the Greater Toronto Area owned by SmartCentres. For more information, see Note 4. On June 20, 2019, our board of directors, upon recommendation of our nominating and corporate governance committee, approved an estimated value per share of $22.65 for our Class A shares, Class T shares, and Class W shares based on the estimated value of our assets less the estimated value of our liabilities, or net asset value, divided by the number of shares outstanding on an adjusted fully diluted basis, calculated as of March 31, 2019. As a result of the calculation of our estimated value per share, effective on June 21, 2019, the offering price of Class A shares became $24.89 per share, the offering price of Class T shares became $24.10 per share, and the offering price of Class W shares became $22.65 per share. In addition, shares sold pursuant to our distribution reinvestment plan are now sold at $22.65 per share for Class A, Class T, and Class W shares, effective for distribution payments being paid beginning in July 2019 Our operating partnership, Strategic Storage Operating Partnership IV, L.P., a Delaware limited partnership (our “Operating Partnership”), was formed on June 2, 2016. On June 15, 2016, our Advisor purchased a limited partnership interest in our Operating Partnership for $200,000 (8,889 partnership units) and on June 15, 2016, we contributed the initial $1,000 capital contribution we received to our Operating Partnership in exchange for the general partner interest. Our Operating Partnership will own, directly or indirectly through one or more special purpose entities, all of the self storage properties that we acquire in the future. As of December 31, 2019, we owned approximately 99.9% of the common units of limited partnership interests of our Operating Partnership. The remaining approximately 0.1% of the common units are owned by our Advisor. As the sole general partner of our Operating Partnership, we have the exclusive power to manage and conduct the business of our Operating Partnership. We conduct certain activities through our taxable REIT subsidiary, Strategic Storage TRS IV, Inc., a Delaware corporation (the “TRS”) which was formed on June 2, 2016, and is a wholly owned subsidiary of our Operating Partnership. Our Property Manager is a Delaware limited liability company which was formed on May 31, 2016 to manage our properties. An affiliate of our Sponsor owns the rights to the “SmartStop® Self Storage” brand. Our Property Manager derives substantially all of its income from the property management services it performs for us. Our Property Manager may enter into sub-property management agreements with third party management companies and pay part of its management fee to such sub-property manager. Please see Note 6 – Related Party Transactions – Property Management Agreement. Our dealer manager is Select Capital Corporation, a California corporation (our “Dealer Manager”). On February 10, 2017, the Company executed a dealer manager agreement, as amended (the “Dealer Manager Agreement”), with our Dealer Manager. Our Dealer Manager is responsible for marketing our shares to be offered pursuant to our Primary Offering. Our Prior Sponsor owns, through a wholly-owned limited liability company, a 15% non-voting equity interest in our Dealer Manager. Our Prior Sponsor owns 100% of the membership interests of Strategic Transfer Agent Services, LLC, our transfer agent (our “Transfer Agent”). On May 31, 2018, the Company executed an agreement (the “Transfer Agent Agreement”), with our Transfer Agent to provide transfer agent and registrar services to us that are substantially similar to what a third party transfer agent would provide in the ordinary course of performing its functions as a transfer agent. Our Transfer Agent may retain and supervise third party vendors in its efforts to administer certain services. Please see Note 6 – Related Party Transactions – Transfer Agent Agreement. As we accept subscriptions for shares of our common stock, we transfer all of the net offering proceeds to our Operating Partnership as capital contributions in exchange for additional units of interest in our Operating Partnership. However, we are deemed to have made capital contributions in the amount of gross proceeds received from investors, and our Operating Partnership is deemed to have simultaneously paid the sales commissions and other costs associated with the Primary Offering. In addition, our Operating Partnership is structured to make distributions with respect to limited partnership units that are equivalent to the distributions made to holders of common stock. Finally, a limited partner in our Operating Partnership may later exchange his or her limited partnership units in our Operating Partnership for shares of our common stock at any time after one year following the date of issuance of their limited partnership units, subject to certain restrictions outlined in the limited partnership agreement of our Operating Partnership, as amended (the “Operating Partnership Agreement”). Our Advisor is prohibited from exchanging or otherwise transferring its limited partnership units so long as it is acting as our Advisor pursuant to our Advisory Agreement.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC. Principles of Consolidation Our financial statements, and the financial statements of our Operating Partnership, including its wholly-owned subsidiaries, are consolidated in the accompanying consolidated financial statements. The portion of these entities not wholly-owned by us is presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated in consolidation. Consolidation Considerations Current accounting guidance provides a framework for identifying a variable interest entity (“VIE”) and determining when a company should include the assets, liabilities, noncontrolling interests, and results of activities of a VIE in its consolidated financial statements. In general, a VIE is an entity or other legal structure used to conduct activities or hold assets that either (1) has an insufficient amount of equity to carry out its principal activities without additional subordinated financial support, (2) has a group of equity owners that are unable to make significant decisions about its activities, or (3) has a group of equity owners that do not have the obligation to absorb losses or the right to receive returns generated by its operations. Generally, a VIE should be consolidated if a party with an ownership, contractual, or other financial interest in the VIE (a variable interest holder) has the power to direct the VIE’s most significant activities and the obligation to absorb losses or right to receive benefits of the VIE that could be significant to the VIE. A variable interest holder that consolidates the VIE is called the primary beneficiary. Upon consolidation, the primary beneficiary generally must initially record all of the VIE’s assets, liabilities, and noncontrolling interest at fair value and subsequently account for the VIE as if it were consolidated based on majority voting interest. Our Operating Partnership is deemed to be a VIE and is consolidated by the Company as the primary beneficiary. As of December 31, 2019 and 2018, we had not entered into any other contracts/interests that would be deemed to be variable interests in VIEs other than our joint ventures with SmartCentres and our preferred equity investment, which are all accounted for under the equity method of accounting. Please see Note 4 and Note 11 – Completed Acquisitions – Escondido Property. Other than the entities noted above, we do not currently have any relationships with unconsolidated entities or financial partnerships. Under the equity method, our investments will be stated at cost and adjusted for our share of net earnings or losses and reduced by distributions. Equity in earnings will generally be recognized based on our ownership interest in the earnings of each of the unconsolidated investments. Noncontrolling Interest in Consolidated Entities We account for the noncontrolling interest in our Operating Partnership in accordance with the related accounting guidance. Due to our control through our general partnership interest in our Operating Partnership and the limited rights of the limited partner, our Operating Partnership, including its wholly-owned subsidiaries, are consolidated with the Company and the limited partner interest is reflected as a noncontrolling interest in the accompanying consolidated balance sheets. The noncontrolling interest shall be attributed its share of income and losses, even if that attribution results in a deficit noncontrolling interest balance. Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions. Management will adjust such estimates when facts and circumstances dictate. Actual results could materially differ from those estimates. The most significant estimates made include the allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed at relative fair value, the determination if certain entities should be consolidated, the evaluation of potential impairment of long-lived assets, and the estimated useful lives of real estate assets and intangibles. Cash and Cash Equivalents We consider all short-term, highly liquid investments that are readily convertible to cash with a maturity of three months or less at the time of purchase to be cash equivalents. We may maintain cash and cash equivalents in financial institutions in excess of insured limits, but believe this risk will be mitigated by only investing in or through major financial institutions. Restricted Cash Restricted cash consists primarily of impound reserve accounts for property taxes and capital improvements in connection with the requirements of one of our loan agreements. Real Estate Purchase Price Allocation We account for acquisitions in accordance with GAAP which requires that we allocate the purchase price of a property to the tangible and intangible assets acquired and the liabilities assumed based on their relative fair values. This guidance requires us to make significant estimates and assumptions, including fair value estimates, which requires the use of significant unobservable inputs, as of the acquisition date. The value of the tangible assets, consisting of land and buildings, is determined as if vacant. Substantially all of the leases in place at acquired properties are at market rates, as the majority of the leases are month-to-month contracts. We also consider whether in-place, market leases represent an intangible asset. We recorded approximately $4.5 million and $5.5 million in intangible assets to recognize the value of in-place leases related to our acquisitions during the years ended December 31, 2019 and 2018, respectively. We do not expect, nor to date have we recorded, intangible assets for the value of customer relationships because we expect we will not have concentrations of significant customers and the average customer turnover will be fairly frequent. Allocation of purchase price to acquisitions of facilities are allocated to the individual facilities based upon an income approach or a cash flow analysis using appropriate risk adjusted capitalization rates which take into account the relative size, age, and location of the individual facility along with current and projected occupancy and rental rate levels or appraised values, if available. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business, as defined under current GAAP, are accounted for as asset acquisitions. During the years ended December 31, 2019 and 2018, our acquisitions have not met the definition of a business because substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets (i.e. land, buildings, and related intangible assets) or because the acquisition does not include a substantive process in the form of an acquired workforce or an acquired contract that cannot be replaced without significant cost, effort or delay. As a result, once an acquisition is deemed probable, transaction costs are capitalized rather than expensed. During the years ended December 31, 2019 and 2018, we acquired eight and twelve properties, respectively, that did not meet the definition of a business, and we capitalized approximately $520,000 and $515,000, respectively, of acquisition-related transaction costs that would have otherwise been expensed under the guidance in effect prior to January 1, 2018. During the years ended December 31, 2019, 2018, and 2017 we expensed approximately $1.1 million, $1.3 million, and $0.4 million, respectively, of acquisition-related transaction costs that did not meet our capitalization policy during the respective periods. Evaluation of Possible Impairment of Long-Lived Assets Management monitors events and changes in circumstances that could indicate that the carrying amounts of our long-lived assets, including those held through joint ventures, may not be recoverable. When indicators of potential impairment are present that indicate that the carrying amounts of the assets may not be recoverable, we will assess the recoverability of the assets by determining whether the carrying value of the long-lived assets will be recovered through the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying value, we will adjust the value of the long-lived assets to the fair value and recognize an impairment loss. For the years ended December 31, 2019, 2018 and 2017, no impairment losses were recognized. Revenue Recognition Management believes that all of our leases are operating leases. Rental income is recognized in accordance with the terms of the leases, which generally are month-to-month. Revenues from any long-term operating leases are recognized on a straight-line basis over the term of the lease. In March 2019, in connection with the acquisition of a self storage facility in Newark, New Jersey, we entered into a ten year operating lease with the seller for warehouse space. The lease contains scheduled base rent increases and future minimum lease payments totaling approximately $6.9 million. The excess of rents received over amounts contractually due pursuant to the underlying leases is included in accounts payable and accrued liabilities in our consolidated balance sheets and contractually due but unpaid rent is included in other assets. Real Estate Facilities Real estate facilities are recorded based on relative fair value as of the date of acquisition. We capitalize costs incurred to develop, construct, renovate and improve properties, including interest and property taxes incurred during the construction period. The construction period begins when expenditures for the real estate assets have been made and activities that are necessary to prepare the asset for its intended use are in progress. The construction period ends when the asset is substantially complete and ready for its intended use. Depreciation of Real Property Assets Our management is required to make subjective assessments as to the useful lives of our depreciable assets. We consider the period of future benefit of the asset to determine the appropriate useful lives. Depreciation of our real property assets is charged to expense on a straight-line basis over the estimated useful Description Standard Depreciable Life Land Not Depreciated Buildings 35 years Site Improvements 7-10 years Depreciation of Personal Property Assets Personal property assets consist primarily of furniture, fixtures and equipment and are depreciated on a straight-line basis over the estimated useful lives generally ranging from 3 to 5 years, and are included in other assets on our consolidated balance sheets. Foreign Currency Translation For non-U.S. functional currency operations, assets and liabilities are translated to U.S. dollars at current exchange rates. Revenues and expenses are translated at the average rates for the period. All related adjustments are recorded in accumulated other comprehensive income (loss) as a separate component of equity. Transactions denominated in a currency other than the functional currency of the related operation are recorded at rates of exchange in effect at the date of the transaction. Gains or losses on foreign currency transactions are recorded in other income (expense). Intangible Assets We have allocated a portion of our real estate purchase price to in-place lease intangibles. We are amortizing in-place lease intangibles on a straight-line basis over the estimated future benefit period. As of December 31, 2019 and 2018, the gross amounts allocated to in-place lease intangibles were approximately $10.5 million and $6.1 million, respectively, and accumulated amortization of in-place lease intangibles totaled approximately $7.1 million and $1.9 million, respectively. The total estimated future amortization expense of intangible assets for the years ending December 31, 2020 and 2021 is approximately $3.0 million and $0.4 million, respectively. Debt Issuance Costs The net carrying value of costs incurred in connection with our revolving credit facility are presented as debt issuance costs on our consolidated balance sheets. Debt issuance costs are amortized on a straight-line basis over the term of the related loan, which is not materially different than the effective interest method. As of December 31, 2019 and 2018, accumulated amortization of debt issuance costs related to our revolving credit facility totaled approximately $0.2 million and none, respectively The net carrying value of costs incurred in connection with obtaining non revolving debt are presented on the consolidated balance sheets as a reduction of the related debt. Debt issuance costs are amortized on a straight-line basis over the term of the related loan, which is not materially different than the effective interest method. As of December 31, 2019 and 2018, accumulated amortization of debt issuance costs related to non revolving debt totaled approximately $4,000 and $0.4 million, respectively. Organizational and Offering Costs Our Advisor may fund organization and offering costs on our behalf. We are required to reimburse our Advisor for such organization and offering costs; provided, however, our Advisor will fund, and will not be reimbursed for, 1.15% of the gross offering proceeds from the sale of Class W shares towards payment of organization and offering expenses, which we will recognize as a capital contribution from our Advisor. Our Advisor must reimburse us within 60 days after the end of the month in which the initial public offering terminates to the extent we paid or reimbursed organization and offering costs (excluding sales commissions, dealer manager fees, stockholder servicing fees and dealer manager servicing fees) in excess of 3.5% of the gross offering proceeds from the Primary Offering. If at any point in time we determine that the total organization and offering costs are expected to exceed 3.5% of the gross proceeds anticipated to be received from the Primary Offering, we will recognize such excess as a capital contribution from our Advisor. Offering costs are recorded as an offset to additional paid-in capital, and organization costs are recorded as an expense. In connection with our Primary Offering, our Dealer Manager will receive a sales commission of up to 6.0% of gross proceeds from sales of Class A shares and up to 3.0% of gross proceeds from the sales of Class T shares in the Primary Offering and a dealer manager fee up to 3.0% of gross proceeds from sales of both Class A shares and Class T shares in the Primary Offering under the terms of the Dealer Manager Agreement. Our Dealer Manager does not receive an upfront sales commission or dealer manager fee from the sales of Class W shares in the Primary Offering. In addition, our Dealer Manager receives an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365th of 1% of the purchase price per share of the Class T shares sold in the Primary Offering. Our Dealer Manager also receives an ongoing dealer manager servicing fee that is payable monthly and accrues daily in an amount equal to 1/365th of 0.5% of the purchase price per share of the Class W shares sold in the Primary Offering. We will cease paying the stockholder servicing fee with respect to the Class T shares sold in the Primary Offering at the earlier of (i) the date we list our shares on a national securities exchange, merge or consolidate with or into another entity, or sell or dispose of all or substantially all of our assets, (ii) the date at which the aggregate underwriting compensation from all sources equals 10% of the gross proceeds from the sale of Class A shares, Class T shares, and Class W shares in our Primary Offering (i.e., excluding proceeds from sales pursuant to our distribution reinvestment plan), which calculation shall be made by us with the assistance of our Dealer Manager commencing after the termination of our Primary Offering; (iii) with respect to a particular Class T share, the third anniversary of the issuance of the share; and (iv) the date that such Class T share is redeemed or is no longer outstanding. We will cease paying the dealer manager servicing fee with respect to the Class W shares sold in the Primary Offering at the earlier of (i) the date we list our shares on a national securities exchange, merge or consolidate with or into another entity, or sell or dispose of all or substantially all of our assets, (ii) the date at which the aggregate underwriting compensation from all sources equals 10% of the gross proceeds from the sale of Class A shares, Class T shares, and Class W shares in our Primary Offering (i.e., excluding proceeds from sales pursuant to our distribution reinvestment plan),which calculation shall be made by us with the assistance of our Dealer Manager commencing after the termination of our Primary Offering; (iii) the end of the month in which the aggregate underwriting compensation paid in our Primary Offering with respect to Class W shares, comprised of the dealer manager servicing fee, equals 9.0% of the gross proceeds from the sale of Class W shares in our Primary Offering (i.e., excluding proceeds from sales pursuant to our distribution reinvestment plan), which calculation shall be made by us with the assistance of our Dealer Manager commencing after the termination of our Primary Offering, and (iv) the date that such Class W share is redeemed or is no longer outsta nding. Our Dealer Manager enters into participating dealer agreements with certain other broker-dealers which authorize them to sell our shares. Upon sale of our shares by such broker-dealers, our Dealer Manager will re-allow all of the sales commissions and, subject to certain limitations, the stockholder servicing fees paid in connection with sales made by these broker-dealers. Our Dealer Manager may also re-allow to these broker-dealers a portion of their dealer manager fee as marketing fees, reimbursement of certain costs and expenses of attending training and education meetings sponsored by our Dealer Manager, payment of attendance fees required for employees of our Dealer Manager or other affiliates to attend retail seminars and public seminars sponsored by these broker-dealers, or to defray other distribution-related expenses. Our Dealer Manager will also receive reimbursement of bona fide due diligence expenses; however, to the extent these due diligence expenses cannot be justified, any excess over actual due diligence expenses would have been considered underwriting compensation subject to a 10% FINRA limitation and, when aggregated with all other non-accountable expenses in connection with our Public Offering, may not exceed 3% of gross offering proceeds from sales in the Public Offering. We record a liability within Due to Affiliates for the future estimated stockholder and dealer manager servicing fees and a reduction to additional paid-in capital at the time of sale of the Class T and Class W shares as an offering cost. Redeemable Common Stock We adopted a share redemption program that will enable stockholders to sell their shares to us in limited circumstances. We record amounts that are redeemable under the share redemption program as redeemable common stock in the accompanying consolidated balance sheets since the shares are redeemable at the option of the holder and therefore their redemption is outside our control. The maximum amount redeemable under our share redemption program will be limited to the number of shares we could repurchase with the amount of the net proceeds from the sale of shares under the distribution reinvestment plan. However, accounting guidance states that determinable amounts that can become redeemable but that are contingent on an event that is likely to occur (e.g., the passage of time) should be presented as redeemable when such amount is known. Therefore, the net proceeds from the distribution reinvestment plan are considered to be temporary equity and are presented as redeemable common stock in our consolidated balance sheets. In addition, current accounting guidance requires, among other things, that financial instruments that represent a mandatory obligation of us to repurchase shares be classified as liabilities and reported at settlement value. Our redeemable common shares are contingently redeemable at the option of the holder. When we determine we have a mandatory obligation to repurchase shares under the share redemption program, we will reclassify such obligations from temporary equity to a liability based upon their respective settlement values. For the year ended December 31, 2019, we received redemption requests totaling approximately $1.4 million (approximately 62,000 shares), approximately $0.7 million of which were fulfilled during the year ended December 31, 2019, with the remaining approximately $0.7 million included in accounts payable and accrued liabilities as of December 31, 2019, and fulfilled in January 2020. For the year ended December 31, 2018, we received redemption requests totaling approximately $110,000 (approximately 4,900 shares), approximately $30,000 of which were fulfilled during the year ended December 31, 2018, with the remaining approximately $80,000 included in accounts payable and accrued liabilities as of December 31, 2018, and fulfilled in January 2019. Accounting for Equity Awards The cost of restricted stock is required to be measured based on the grant date fair value and the cost recognized over the relevant service period. Fair Value Measurements Under GAAP, we are required to measure certain financial instruments at fair value on a recurring basis. In addition, we are required to measure other financial instruments and balances at fair value on a non-recurring basis. Fair value is defined by the accounting standard for fair value measurements and disclosures as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. It also establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels. The following summarizes the three levels of inputs and hierarchy of fair value we will use when measuring fair value: • Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access; • Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as interest rates and yield curves that are observable at commonly quoted intervals; and • Level 3 inputs are unobservable inputs for the assets or liabilities that are typically based on an entity’s own assumptions as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the fair value measurement will fall within the lowest level that is significant to the fair value measurement in its entirety. The accounting guidance for fair value measurements and disclosures provides a framework for measuring fair value and establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In determining fair value, we will utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as consider counterparty credit risk in our assessment of fair value. Considerable judgment will be necessary to interpret Level 2 and 3 inputs in determining fair value of our financial and non-financial assets and liabilities. Accordingly, there can be no assurance that the fair values we will present will be indicative of amounts that may ultimately be realized upon sale or other disposition of these assets. Financial and non-financial assets and liabilities measured at fair value on a non-recurring basis in our consolidated financial statements consist of real estate and related liabilities assumed related to our acquisitions. The fair values of these assets and liabilities were determined as of the acquisition dates using widely accepted valuation techniques, including (i) discounted cash flow analysis, which considers, among other things, leasing assumptions, growth rates, discount rates and terminal capitalization rates, (ii) income capitalization approach, which considers prevailing market capitalization rates, and (iii) comparable sales activity. In general, we consider multiple valuation techniques when measuring fair values. However, in certain circumstances, a single valuation technique may be appropriate. All of the fair values of the assets and liabilities as of the acquisition dates were derived using Level 3 inputs. The carrying amounts of cash and cash equivalents, restricted cash, other assets, variable – rate debt, accounts payable and accrued liabilities, distributions payable and amounts due to affiliates approximate fair value. The table below summarizes our fixed rate note payable at December 31, 2019 and 2018. December 31, 2019 December 31, 2018 Fair Value Carrying Value Fair Value Carrying Value Fixed Rate Secured Debt $ 2,300,000 $ 2,182,207 $ 2,350,000 $ 2,303,183 Income Taxes We made an election to be taxed as a Real Estate Investment Trust (“REIT”), under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with our taxable year ended December 31, 2017. To qualify as a REIT, we must continue to meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the REIT’s ordinary taxable income to stockholders (which is computed without regard to the dividends paid deduction or net capital gains and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, we generally will not be subject to federal income tax on taxable income that we distribute to our stockholders. If we fail to qualify as a REIT in any taxable year, we will then be subject to federal income taxes on our taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost unless the IRS grants us relief under certain statutory provisions. Such an event could materially adversely affect our net income and net cash available for distribution to stockholders. However, we believe that we are organized and operate in such a manner as to qualify for treatment as a REIT and intend to operate in the foreseeable future in such a manner that we will remain qualified as a REIT for federal income tax purposes. Even if we continue to qualify for taxation as a REIT, we may be subject to certain state and local taxes on our income and property, and federal income and excise taxes on our undistributed income. We filed elections to treat our TRS as a taxable REIT subsidiary. In general, the TRS performs additional services for our customers and generally engages in any real estate or non-real estate related business. The TRS is subject to corporate federal and state income tax. The TRS follows accounting guidance which requires the use of the asset and liability method. Deferred income taxes represent the tax effect of future differences between the book and tax bases of assets and liabilities. Per Share Data Basic earnings per share attributable to our common stockholders for all periods presented is computed by dividing net income (loss) attributable to our common stockholders by the weighted average number of shares outstanding during the period, excluding unvested restricted stock. Diluted earnings per share is computed by including the dilutive effect of unvested restricted stock, utilizing the treasury stock method. For all periods presented the dilutive effect of unvested restricted stock was not included in the diluted weighted average shares as such shares were antidilutive. Recently Issued Accounting Guidance In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” ASU 2016-02 amends the guidance on accounting for leases. Under ASU 2016-02, lessees will be required to recognize the following for all leases (with the exception of short term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under ASU 2016-02, lessor accounting is largely unchanged. It also includes extensive amendments to the disclosure requirements. ASU 2016-02 is effective for fiscal years and interim periods beginning after December 15, 2018. We adopted this standard on January 1, 2019 using the modified retrospective approach, without applying the provisions to comparative periods presented. Its adoption did not have a material impact on our consolidated financial statements as substantially all of our lease revenues are derived from month-to-month leases and, as lessee, we have no significant leases. In addition, the new standard requires a lessor to assess the collectability of rental payments and amounts previously reflected in property operating expenses as bad debt expense are reflected as an adjustment to self storage rental revenue. The impact of this was a reduction in both self storage rental revenue and property operating expenses of approximately $220,000 for the year ended December 31, 2019.

Real Estate Facilities

Real Estate Facilities	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Real Estate Facilities	Note 3. Real Estate Facilities The following summarizes the activity in real estate facilities during the years ended December 31, 2019 and 2018: Real estate facilities Balance at December 31, 2017 $ 12,339,539 Facility acquisitions 123,204,022 Improvements and additions 436,517 Balance at December 31, 2018 135,980,078 Facility acquisitions 124,338,543 Improvements and additions 1,063,667 Balance at December 31, 2019 $ 261,382,288 Accumulated depreciation Balance at December 31, 2017 $ (138,219 ) Depreciation expense (1,631,217 ) Balance at December 31, 2018 (1,769,436 ) Depreciation expense (4,973,357 ) Balance at December 31, 2019 $ (6,742,793 ) The following table summarizes the purchase price allocations for our acquisitions during the year ended December 31, 2019: Property Acquisition Date Real Estate Assets Intangibles Total (1) 2019 Revenue (2) 2019 Property Operating Income (Loss) (2) (3) Plant City - FL 1/08/19 $ 13,688,543 $ 831,000 $ 14,519,543 $ 1,388,127 $ 861,419 Newark - NJ 3/26/19 28,616,948 1,429,000 30,045,948 2,387,683 1,597,033 Redmond - WA 7/23/19 11,090,690 434,000 11,524,690 357,979 188,043 Ocoee - FL 11/05/19 13,226,565 240,000 13,466,565 64,487 17,063 Ardrey Kell - NC 11/05/19 17,959,795 475,000 18,434,795 141,160 65,020 University City - NC 11/05/19 11,488,821 448,000 11,936,821 127,000 73,396 Charlottesville - VA 11/05/19 20,185,520 600,000 20,785,520 169,515 113,235 Surprise - AZ 12/12/19 8,081,661 - 8,081,661 812 (33,487 ) $ 124,338,543 $ 4,457,000 $ 128,795,543 $ 4,636,763 $ 2,881,722 (1) (2) (3) The following table summarizes the purchase price allocations for our acquisitions during the year ended December 31, 2018: Property Acquisition Date Real Estate Assets Intangibles Total (1) Debt Assumed 2018 Revenue (2) 2018 Property Operating Income (2) (3) Riverside - CA 3/27/18 $ 6,583,372 $ 281,736 $ 6,865,108 — $ 500,448 $ 259,590 Las Vegas I - NV 4/05/18 8,841,728 346,682 9,188,410 — 558,716 362,870 Puyallup - WA 5/22/18 12,958,853 672,423 13,631,276 — 745,745 481,834 Las Vegas II - NV 7/18/18 12,353,623 501,662 12,855,285 — 466,454 338,479 Naples - FL 8/01/18 26,321,299 972,211 27,293,510 — 773,181 578,949 Woodlands I - TX 10/10/18 9,723,302 432,000 10,155,302 — 203,176 122,513 Katy - TX 10/10/18 9,032,652 435,000 9,467,652 2,322,606 208,238 124,943 Humble - TX 10/10/18 7,846,806 405,000 8,251,806 — 201,356 102,998 Woodlands II - TX 10/10/18 9,036,618 441,000 9,477,618 — 202,579 123,418 College Station - TX 10/10/18 7,008,870 346,000 7,354,870 — 163,310 95,181 Cypress - TX 10/10/18 6,567,471 319,000 6,886,471 — 146,842 62,701 Queenston - TX 11/06/18 6,929,428 313,000 7,242,428 — 115,524 57,498 $ 123,204,022 $ 5,465,714 $ 128,669,736 $ 2,322,606 $ 4,285,569 $ 2,710,974 (1) (2) (3)

Investments in Unconsolidated R

Investments in Unconsolidated Real Estate Ventures	12 Months Ended
	Dec. 31, 2019
Equity Method Investments And Joint Ventures [Abstract]
Investments in Unconsolidated Real Estate Ventures	Note 4. Investments in Unconsolidated Real Estate Ventures We have entered into various agreements with a subsidiary of SmartCentres, an unaffiliated third party, to acquire tracts of land and develop them into self storage facilities. The Company accounts for these investments using the equity method of accounting and they are stated at cost and adjusted for our share of net earnings or losses and reduced by distributions. Equity in earnings will generally be recognized based on our ownership interest in the earnings of each of the unconsolidated investments. The following table summarizes our investments in unconsolidated real estate ventures: Carrying Value of Investment Location Date Real Estate Venture Acquired Land Equity Ownership % December 31, 2019 December 31, 2018 Expected Completion Oshawa Property Oshawa, Ontario September 2018 50% $ 1,793,565 $ 620,214 First half of 2021 East York Property East York, Ontario January 2019 50% 7,069,314 — First half of 2020 Brampton Property Brampton, Ontario September 2019 50% 3,249,402 2,693 Second half of 2020 Vaughan Property Vaughan, Ontario August 2019 50% 2,902,858 236,624 Second half of 2020 Scarborough Property Scarborough, Ontario Expected in first half of 2020 50% 74,847 — Second half of 2021 Kingspoint Property Kingspoint, Ontario Expected in second half of 2020 50% 26,209 — First half of 2022 $ 15,116,195 $ 859,531 Joint Ventures with SmartCentres – Scarborough and Kingspoint In January 2019, one of our subsidiaries entered into two contribution agreements with a subsidiary of SmartCentres, for two tracts of land located in Scarborough, Ontario (the “Scarborough Land”) and Brampton, Ontario (the “ Kingspoint Upon closing, the Ontario II Lots will each be owned by a limited partnership (the “Ontario II Limited Partnerships”), in which we (through our subsidiaries) and SmartCentres (through its subsidiaries) will each be a 50% limited partner and each have an equal ranking general partner in the Ontario II Limited Partnerships. It is intended that the Ontario II Limited Partnerships develop self storage facilities on the Ontario II Lots. The value of the Scarborough Land and the Kingspoint Kingspoint

Secured Debt

Secured Debt	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Secured Debt	Note 5. Secured Debt The Company’s debt is summarized as follows: Secured Debt December 31 December 31, Interest Maturity 2019 2018 Rate Date Revolving KeyBank Credit Facility $ 107,000,000 $ — 3.3 % 6/27/2022 KeyBank Credit Facility — 62,000,000 N/A N/A Katy Loan 2,182,207 2,303,182 6.4 % 9/1/2031 Debt issuance costs, net (76,230 ) (525,321 ) Total Secured Debt $ 109,105,977 $ 63,777,861 The weighted average interest rate on our consolidated debt as of December 31, 2019 was approximately 3.35%. KeyBank Credit Facility On July 31, 2018, the Company, through six special purpose entities (collectively, the “Prior Borrower”) wholly owned by our Operating Partnership, entered into a credit agreement (the “Credit Agreement”) with KeyBank, National Association (“KeyBank”), as administrative agent and KeyBanc Capital Markets, LLC, as sole book runner and sole lead arranger. Under the terms of the Credit Agreement, the Prior Borrower had an initial maximum borrowing capacity up to $70 million (the “KeyBank Credit Facility”). From July 31, 2018 to October 30, 2018, we borrowed $62 million on the KeyBank Credit Facility to finance the acquisition of seven self storage facilities. On October 31, 2018, and pursuant to the terms of the Credit Agreement, the maximum borrowing capacity of the KeyBank Credit Facility was reduced to $62 million, which was the amount outstanding on the KeyBank Credit Facility as of that date and as of December 31, 2018. On January 8, 2019, the KeyBank Credit Facility was amended in order to allow the Prior Borrower to draw an additional $6 million, which was used in connection with the acquisition of the Plant City property. The maximum borrowing capacity and the amount outstanding on the KeyBank Credit Facility was increased to $68 million. On June 27, 2019, the KeyBank Credit Facility was repaid in full and terminated with proceeds from the Revolving KeyBank Credit Facility. The KeyBank Credit Facility was a term loan that had a maturity date of July 31, 2019. Payments due under the KeyBank Credit Facility were interest-only. As of June 27, 2019, the applicable interest rate was approximately 4.9% which was based on LIBOR plus 250 basis points. Revolving KeyBank Credit Facility On June 27, 2019, we, through our Operating Partnership, and certain affiliated entities (collectively, the “Borrower”), entered into an amended and restated credit agreement (the “Revolving KeyBank Credit Facility”) with KeyBank, as administrative agent and KeyBanc Capital Markets, LLC, as sole book runner and sole lead arranger. The Revolving KeyBank Credit Facility replaced the KeyBank Credit Facility. Under the terms of the Revolving KeyBank Credit Facility, we had an initial maximum borrowing capacity of $55 million. On June 27, 2019, $43 million was drawn on the Revolving KeyBank Credit Facility to repay in full and terminate the KeyBank Credit Facility. The Revolving KeyBank Credit Facility may be increased, to a maximum credit facility size of $300 million, in minimum increments of $20 million, which KeyBank will arrange on a best efforts basis. On August 9, 2019, we entered into an amendment and joinder to amend and restate the Revolving KeyBank Credit Facility (the “First Amendment”) with KeyBank. Under the terms of the First Amendment, we added an additional $45 million to our maximum borrowing capacity for a total of $100 million with the admission of Texas Capital Bank (“Texas Capital”), Fifth Third Bank (“Fifth Third”) and SunTrust Bank (“SunTrust”) (the “Subsequent Lenders”). The Subsequent Lenders also became a party to the Revolving KeyBank Credit Facility through a joinder agreement in the First Amendment. On November 5, 2019, we entered into an amendment and joinder to amend and restate the Revolving KeyBank Credit Facility (the “Second Amendment”) with KeyBank. Under the terms of the Second Amendment, we added an additional $35 million to increase our maximum borrowing capacity to a total of $135 million. In conjunction with the increase of the maximum borrowing capacity we drew $65 million on the Revolving KeyBank Credit Facility to close the four properties (Ocoee, Ardrey Kell, University City, and Charlottesville) and three properties were added as collateral to the loan (Redmond, Charlottesville, and University City). On January 31, 2020, we, through seven wholly-owned special purposes entities, entered into a $40.5 million CMBS financing with KeyBank as lender pursuant to a mortgage loan (the “CMBS Loan”), see Note 11 for further details. We used $40 million of the proceeds from the CMBS Loan to pay down the Revolving KeyBank Credit Facility. As a result of this, seven properties (Jensen Beach, Texas City, Riverside, Las Vegas I, Puyallup, Las Vegas II, and Plant City) were released as collateral under the Revolving KeyBank Credit Facility and now serve as collateral under the CMBS Loan. Accordingly, as of January 31, 2020, we had an outstanding principal balance under the Revolving KeyBank Credit Facility of $73 million. The Revolving KeyBank Credit Facility is a revolving loan with an initial term of three years, maturing on June 27, 2022, with two one-year extension options subject to certain conditions outlined further in the Revolving KeyBank Credit Facility. Monthly payments due pursuant to the Revolving KeyBank Credit Facility are interest-only and the principal balance is due at maturity. The Revolving KeyBank Credit Facility bears interest based on the type of borrowing. The ABR Loans be ar interest at the lesser of (x) the Alternate Base Rate (as defined in the Revolving KeyBank Credit Facility) plus the Applicable Rate, or (y) the Maximum Rate (as defined in the Revolving KeyBank Credit Facility). The Eurodollar Loans bear interest at th e lesser of (a) the Adjusted LIBO Rate (as defined in the Revolving KeyBank Credit Facility) for the Interest Period in effect plus the Applicable Rate, or (b) the Maximum Rate (as defined in the Revolving KeyBank Credit Facility). The Applicable Rate mean s the percentage rate corresponding to our total leverage, which are as follows for Eurodollar Loans: (1) 225 basis points with a total leverage ratio greater than or equal to 55 %; (2) 200 basis points with a total leverage ratio greater than or equa l to 45 % but less than 55 %; (3) 175 basis points with a total leverage ratio greater than or equal to 35 % but less than 45 %; and (4) 150 basis points with a total leverage ratio less than 35 %. As of December 31, 2019, the total interest rate was approximately 3.3 % which was based on LIBOR plus 150 basis points. Our Operating Partnership purchased interest rate caps with a notional amount of $ 105 million, such that in no event will LIBOR exceed 3.00 % thereon through July 1, 2021. The Revolving KeyBank Credit Facility is fully recourse, jointly and severally, to each of the Borrowers and is secured by cross-collateralized first mortgage liens on the Mortgaged Properties. As of December 31, 2019, the facility encumbered the following 18 properties (Jensen Beach, Texas City, Riverside, Las Vegas I, Puyallup, Las Vegas II, Naples, Woodlands I, Humble, Woodlands II, College Station, Cypress, Queenston, Plant City, Newark, Redmond, Charlottesville, and University City). The Revolving KeyBank Credit Facility may be prepaid or terminated at any time without penalty, provided, however, that the Lenders shall be indemnified for any breakage costs. Pursuant to that certain guaranty (the “KeyBank Guaranty”), dated as of June 27, 2019, in favor of the Lenders, we serve as a guarantor of all obligations due under the Revolving KeyBank Credit Facility. Under certain conditions, the Borrower may cause the release of one or more of the properties serving as collateral for the Revolving KeyBank Credit Facility, provided that no default or event of default is then outstanding or would reasonably occur as a result of such release, and after taking into account any prepayment of outstanding Loans (as defined in the Revolving KeyBank Credit Facility) necessary to maintain compliance with the financial covenants. The Revolving KeyBank Credit Facility contains: customary affirmative, negative and financial covenants; agreements; representations; warranties and borrowing conditions; and events of default all as set forth in such loan documents. In particular, the aggregate borrowing base availability under the Revolving KeyBank Credit Facility is limited by a minimum Debt-Service-Coverage-Ratio, maximum Loan-to-Value Ratio, minimum number of Mortgaged Properties, and minimum required Pool Value for the Mortgaged Properties (capitalized terms are as defined in the Revolving KeyBank Credit Facility). In addition, we must meet certain requirements as of the close of each fiscal quarter including a maximum Total Leverage Ratio, a minimum Tangible Net Worth, a minimum Fixed Charge Ratio and required Interest Rate Protection (capitalized terms are as defined in the Revolving KeyBank Credit Facility). As of December 31, 2019, we were in compliance with all such covenants. Katy Loan On October 10, 2018, in connection with the acquisition of the property in Katy, Texas (the “Katy Property”), we, through a special purpose entity formed to acquire and hold the Katy Property, assumed an approximately $2.3 million loan from John Hancock Life Insurance Company (U.S.A) (the “Katy Loan”), which is secured by a deed of trust on the Katy Property. The Katy Loan has a fixed annual interest rate of approximately 6.4% and matures on September 1, 2031. The following table presents the future principal payment requirements on outstanding secured debt as of December 31, 2019: 2020 $ 128,922 2021 137,392 2022 107,146,419 (1) 2023 156,038 2024 166,290 2025 and thereafter 1,447,146 Total payments 109,182,207 Debt issuance costs, net (76,230 ) Total $ 109,105,977 (1) On January 31, 2020, we entered into a 10 year, interest only $40.5 million CMBS Loan. We used the proceeds of the CMBS Loan to pay down $40 million on the Revolving KeyBank Credit Facility. For more information please see Note 11.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Note 6. Related Party Transactions Fees to Affiliates Our Advisory Agreement with our Advisor and our Dealer Manager Agreement with our Dealer Manager entitle our Advisor and our Dealer Manager to specified fees upon the provision of certain services with regard to the Public Offering and investment of funds in real estate properties, among other services, as well as reimbursement for organization and offering costs incurred by our Advisor on our behalf and reimbursement of certain costs and expenses incurred by our Advisor in providing services to us. Organization and Offering Costs Organization and offering costs of the Public Offering may be paid by our Advisor on our behalf and reimbursed to our Advisor from the proceeds of our Public Offering; provided, however, that our Advisor will fund, and will not be reimbursed for, 1.15% of the gross offering proceeds from the sale of Class W shares towards payment of organization and offering expenses. Organization and offering costs consist of all expenses (other than sales commissions, the dealer manager fee, stockholder servicing fees and dealer manager servicing fees) to be paid by us in connection with the Public Offering, including our legal, accounting, printing, mailing and filing fees, charges of our escrow holder and other accountable organization and offering expenses, including, but not limited to, (i) amounts to reimburse our Advisor for all marketing related costs and expenses such as salaries and direct expenses of employees of our Advisor and its affiliates in connection with registering and marketing our shares; (ii) technology costs associated with the Public Offering; (iii) our costs of conducting our training and education meetings; (iv) our costs of attending retail seminars conducted by participating broker-dealers; and (v) payment or reimbursement of bona fide due diligence expenses. Our Advisor must reimburse us within 60 days after the end of the month which the Public Offering terminates to the extent we paid or reimbursed organization and offering costs (excluding sales commissions, dealer manager fees, stockholder servicing fees and dealer manager servicing fees) in excess of 3.5% of the gross offering proceeds from the Primary Offering. Advisory Agreement We do not have any employees. Our Advisor is primarily responsible for managing our business affairs and carrying out the directives of our board of directors. Our Advisor receives various fees and expenses under the terms of our Advisory Agreement. As noted above, we are required under our Advisory Agreement to reimburse our Advisor for organization and offering costs; provided, however, our Advisor will fund, and will not be reimbursed for, 1.15% of the gross offering proceeds from the sale of Class W shares towards payment of organization and offering expenses, and is required to reimburse us within 60 days after the end of the month in which the Public Offering terminates to the extent we paid or reimbursed organization and offering costs (excluding sales commissions, dealer manager fees, stockholder servicing fees and dealer manager servicing fees) in excess of 3.5% of the gross offering proceeds from the Primary Offering. Our Advisory Agreement also requires our Advisor to reimburse us to the extent that offering expenses, including sales commissions, dealer manager fees, stockholder servicing fees, dealer manager servicing fees and organization and offering expenses, are in excess of 15% of gross proceeds from the Public Offering. Our Advisor also receives a monthly asset management fee equal to 0.0833%, which is one-twelfth of 1%, of our aggregate asset value, as defined. Our Advisor may also be entitled to various subordinated distributions under our operating partnership agreement if we (1) list our shares of common stock on a national exchange, (2) terminate our Advisory Agreement, or (3) liquidate our portfolio. Our Advisory Agreement provides for reimbursement of our Advisor’s direct and indirect costs of providing administrative and management services to us. Beginning four fiscal quarters after we acquire our first real estate asset, our Advisor is required to pay or reimburse us the amount by which our aggregate annual operating expenses, as defined, exceed the greater of 2% of our average invested assets or 25% of our net income, as defined, unless a majority of our independent directors determine that such excess expenses were justified based on unusual and non-recurring factors. For any fiscal quarter for which total operating expenses for the 12 months then ended exceed the limitation, we will disclose this fact in our next quarterly report or within 60 days of the end of that quarter and send a written disclosure of this fact to our stockholders. In each case the disclosure will include an explanation of the factors that the independent directors considered in arriving at the conclusion that the excess expenses were justified. As of December 31, 2019, our aggregate annual operating expenses, as defined, did not exceed the thresholds described above. As of December 31, 2018, we had incurred total operating expenses for the 12 months then ended that exceeded the greater of 2% of our average invested assets or 25% of our net income, as defined, in the four consecutive fiscal quarters then ended by approximately $210,000 (the “Excess Expenses”). On March 7, 2019, our board of directors, including all of the independent directors, determined that there were unusual and non-recurring factors sufficient to justify the Excess Expenses, including but not limited to: (1) the amounts reflect legitimate operating expenses necessary for the operation of our business; (2) we are still in the acquisition and development stage of our operations; (3) the start-up costs associated with our operations, including the expenses associated with being a public company (such as audit and legal services, director and officer liability insurance and fees for directors), are significant and disproportionate to our average invested assets and net income; and (4) our average invested assets were low due to us owning between two and 14 properties during the four fiscal quarter periods. Dealer Manager Agreement In connection with our Primary Offering, our Dealer Manager receives a sales commission of up to 6.0% of gross proceeds from sales of Class A shares and up to 3.0% of gross proceeds from sales of Class T shares in the Primary Offering and a dealer manager fee of up to 3.0% of gross proceeds from sales of both Class A shares and Class T shares in the Primary Offering under the terms of the Dealer Manager Agreement. Our Dealer Manager does not receive an upfront sales commission or dealer manager fee from sales of Class W shares in the Primary Offering. In addition, our Dealer Manager receives an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365 th th Our Dealer Manager enters into participating dealer agreements with certain other broker-dealers which authorizes them to sell our shares. Upon sale of our shares by such broker-dealers, our Dealer Manager will re-allow all of the sales commissions and, subject to certain limitations, the stockholder servicing fees paid in connection with sales made by these broker-dealers. Our Dealer Manager may also re-allow to these broker-dealers a portion of their dealer manager fee as marketing fees, reimbursement of certain costs and expenses of attending training and education meetings sponsored by our Dealer Manager, payment of attendance fees required for employees of our Dealer Manager or other affiliates to attend retail seminars and public seminars sponsored by these broker-dealers, or to defray other distribution-related expenses. Our Dealer Manager will also receive reimbursement of bona fide due diligence expenses; however, to the extent these due diligence expenses cannot be justified, any excess over actual due diligence expenses are considered underwriting compensation subject to a 10% FINRA limitation and, when aggregated with all other non-accountable expenses in connection with our Public Offering, may not exceed 3% of gross offering proceeds from sales in the Public Offering. We record a liability as due to affiliates for the future estimated stockholder and dealer manager servicing fees and a reduction to additional paid-in capital at the time of sale of the Class T and Class W shares as an offering cost. Affiliated Dealer Manager Our Prior Sponsor owns, through a wholly-owned limited liability company, a 15% non-voting equity interest in our Dealer Manager. Property Management Agreement Our Property Manager receives: (i) a monthly management fee for the property equal to the greater of $3,000 or 6% of the gross revenues from the property plus reimbursement of the Property Manager’s costs of managing the property and (ii) a construction management fee equal to 5% of the cost of construction or capital improvement work in excess of $10,000. In addition, our Property Manager or an affiliate has the exclusive right to offer insurance plans, protection plans or similar programs (collectively “Tenant Programs”) to the tenants and is entitled to substantially all of the benefits of such Tenant Programs. The property management agreement has a three year term and automatically renews for successive three year periods thereafter, unless we or our Property Manager provide prior written notice at least 90 days prior to the expiration of the term. After the end of the initial three year term, either party may terminate a property management agreement generally upon 60 days prior written notice. With respect to each new property we acquire for which we enter into a property management agreement with our Property Manager we will also pay our Property Manager a one-time start-up fee in the amount of $3,750. All of our properties are operated under the “SmartStop® Self Storage” brand. An affiliate of our sponsor owns the rights to the “SmartStop® Self Storage” brand. Transfer Agent Agreement Our Prior Sponsor is the owner and manager of our Transfer Agent, which is a registered transfer agent with the SEC. Pursuant to our transfer agent agreement, our Transfer Agent provides transfer agent and registrar services to us. These services are substantially similar to what a third party transfer agent would provide in the ordinary course of performing its functions as a transfer agent, including, but not limited to: providing customer service to our stockholders, processing the distributions and any servicing fees with respect to our shares and issuing regular reports to our stockholders. Our Transfer Agent may retain and supervise third party vendors in its efforts to administer certain services. We believe that our Transfer Agent, through its knowledge and understanding of the direct participation program industry which includes non-traded REITs, is particularly suited to provide us with transfer agent and registrar services. Our Transfer Agent also conducts transfer agent and registrar services for our Sponsor and a private REIT sponsored by our Sponsor. It is the duty of our board of directors to evaluate the performance of our Transfer Agent. In connection with the engagement of our Transfer Agent, we paid a one-time initial setup fee. In addition, the other fees to be paid to our Transfer Agent are based on a fixed quarterly fee, one-time account setup fees and monthly open account fees. In addition, we will reimburse our Transfer Agent for all reasonable expenses or other changes incurred by it in connection with the provision of its services to us, and we will pay our Transfer Agent fees for any additional services we may request from time to time, in accordance with its rates then in effect. Upon the request of our Transfer Agent, we may also advance payment for substantial reasonable out-of-pocket expenditures to be incurred by it. The initial term of the Transfer Agent Agreement is three years, which term will be automatically renewed for one year successive terms, but either party may terminate the Transfer Agent Agreement upon 90 days’ prior written notice. In the event that we terminate the Transfer Agent Agreement, other than for cause, we will pay our transfer agent all amounts that would have otherwise accrued during the remaining term of the Transfer Agent Agreement; provided, however, that when calculating the remaining months in the term for such purposes, such term is deemed to be a 12 month period starting from the date of the most recent annual anniversary date. Pursuant to the terms of the agreements described above, the following table summarizes related party costs incurred and paid by us for the years ended December 31, 2018 and 2019, as well as any related amounts payable as of December 31, 2018 and 2019. Year Ended December 31, 2018 Year Ended December 31, 2019 Incurred Paid Payable Incurred Paid Payable Expensed Operating expenses (including organizational costs) $ 775,948 $ 754,396 $ 26,616 $ 1,247,017 $ 1,200,196 $ 73,437 Asset management fees 613,637 615,399 7,833 2,027,231 1,989,408 45,656 Property management fees 350,058 358,818 — 1,014,881 1,014,881 — Transfer Agent expenses 163,898 153,355 10,543 275,899 273,542 12,900 Acquisition expenses 666,416 666,416 — 652,167 652,167 — Capitalized Acquisition expenses 76,890 76,890 — 44,740 44,740 — Additional Paid-in Capital Selling commissions 3,884,006 3,838,693 45,313 4,702,176 4,714,469 33,020 Dealer Manager fees 1,352,419 1,351,849 16,253 1,774,215 1,772,811 17,657 Stockholder Servicing Fees and Dealer Manager Servicing Fees (1) 1,297,283 216,670 1,595,773 2,661,417 729,179 3,528,011 Offering costs 356,021 371,085 18,302 266,409 254,946 29,765 Total $ 9,536,576 $ 8,403,571 $ 1,720,633 $ 14,666,152 $ 12,646,339 $ 3,740,446 (1) We pay our Dealer Manager an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365 th th Tenant Programs We may offer a tenant insurance plan, tenant protection plan or similar program to customers at our properties pursuant to which our Property Manager or an affiliate is entitled to substantially all of the net revenue attributable to the sale of Tenant Programs at our properties. In order to protect the interest of the Property Manager in receiving these revenues in light of the fact that we control the properties and, hence, the ability of the Property Manager to receive such revenues, we and an affiliate of our Property Manager agreed to transfer our respective rights in such revenue to a joint venture entity owned 0.1% by our TRS subsidiary and 99.9% by our Property Manager’s affiliate (the “PM Affiliate”). Under the terms of the operating agreement of the joint venture entity, dated March 27, 2018 (the “JV Agreement”), our TRS will receive 0.1% of the net revenues generated from such Tenant Programs and the PM Affiliate will receive the other 99.9% of such net revenues. The JV Agreement further provides, among other things, that if a member or its affiliate terminates all or substantially all of the property management agreements or defaults in its material obligations under the JV Agreement or undergoes a change of control, as defined, (the “Triggering Member”), the other member generally shall have the right (but not the obligation) to either (i) sell all of its interest in the joint venture to the Triggering Member at fair market value (as agreed upon or as determined under an appraisal process) or (ii) purchase all of the Triggering Member’s interest in the joint venture at 95% of fair market value. For the years ended December 31, 2019 and 2018, an affiliate of our Property Manager received net revenue from this joint venture of approximately $393,000 and $110,000, respectively. Storage Auction Program Our Sponsor owns a minority interest in a company that owns 50% of an online auction company (the “Auction Company”) that serves as a web portal for self storage companies to post their auctions for the contents of abandoned storage units online instead of using live auctions conducted at the self storage facilities. The Auction Company receives a service fee for such services. During the years ended December 31, 2019 and 2018, we paid approximately $10,000 and $1,200 in fees to the Auction Company related to our properties, respectively. Our properties receive the proceeds from such online auctions.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 7. Commitments and Contingencies Distribution Reinvestment Plan We adopted a distribution reinvestment plan that will allow our stockholders to have distributions otherwise distributable to them invested in additional shares of our common stock. The plan became effective on the effective date of our Public Offering. No sales commission or dealer manager fee will be paid on shares sold through the distribution reinvestment plan. We may amend or terminate the distribution reinvestment plan for any reason at any time upon 10 days’ prior written notice to stockholders. On June 20, 2019, our board of directors approved the Amended and Restated Distribution Reinvestment Plan, which replaced our prior distribution reinvestment plan, and became effective for distribution payments being paid beginning in July 2019. The Amended and Restated Distribution Reinvestment Plan sets the price for our shares to be equal to the estimated value per share of the Class A Shares, Class T Shares, and Class W Shares approved by the board of directors and in effect on the date of purchase of the shares under the Amended and Restated Distribution Reinvestment Plan. As of December 31, 2019, we have sold approximately 170,000 Class A shares, 120,000 Class T shares and 26,000 Class W shares through our distribution reinvestment plan offering. Share Redemption Program We adopted a share redemption program that enables stockholders to sell their shares to us in limited circumstances. As long as our common stock is not listed on a national securities exchange or over-the-counter market, our stockholders who have held their stock for at least one year may be able to have all or any portion of their shares of stock redeemed by us. We may redeem the shares of stock presented for redemption for cash to the extent that we have sufficient funds available to fund such redemption. Our board of directors may amend, suspend or terminate the share redemption program with 30 days’ notice to our stockholders. We may provide this notice by including such information in a Current Report on Form 8-K or in our annual or quarterly reports, all publicly filed with the SEC, or by a separate mailing to our stockholders. The complete terms of our share redemption program are described in detail in our prospectus. As a result of our board of directors approving an estimated net asset value per share on June 20, 2019, the per share price for the repurchase of a given class of shares is equal to the then-current estimated net asset value per share for such class of shares. There are several limitations on our ability to redeem shares under the share redemption program including, but not limited to: • Unless the shares are being redeemed in connection with a stockholder’s death, “qualifying disability” (as defined under the share redemption program) or bankruptcy, we may not redeem shares until the stockholder has held his or her shares for one year. • During any calendar year, we will not redeem in excess of 5% of the weighted-average number of shares outstanding during the prior calendar year. • The cash available for redemption is limited to the proceeds from the sale of shares pursuant to our distribution reinvestment plan. • We have no obligation to redeem shares if the redemption would violate the restrictions on distributions under Maryland law, which prohibits distributions that would cause a corporation to fail to meet statutory tests For the year ended December 31, 2019, we received redemption requests totaling approximately $1.4 million (approximately 62,000 shares), approximately $0.7 million of which were fulfilled during the year ended December 31, 2019, with the remaining approximately $0.7 million included in accounts payable and accrued liabilities as of December 31, 2019, and fulfilled in January 2020. For the year ended December 31, 2018, we received redemption requests totaling approximately $110,000 (approximately 4,900 shares), approximately $30,000 of which were fulfilled during the year ended December 31, 2018, with the remaining approximately $80,000 included in accounts payable and accrued liabilities as of December 31, 2018, and fulfilled in January 2019. Operating Partnership Redemption Rights The limited partners of our Operating Partnership have the right to cause our Operating Partnership to redeem their limited partnership units for cash equal to the value of an equivalent number of our shares, or, at our option, we may purchase their limited partnership units by issuing one share of our common stock for each limited partnership unit redeemed. These rights may not be exercised under certain circumstances that could cause us to lose our REIT election. Furthermore, limited partners may exercise their redemption rights only after their limited partnership units have been outstanding for one year. Our Advisor is prohibited from exchanging or otherwise transferring its limited partnership units so long as our Advisor is acting as our advisor under the Advisory Agreement. Other Contingencies From time to time, we are party to legal proceedings that arise in the ordinary course of our business. We are not aware of any legal proceedings of which the outcome is reasonably likely to have a material adverse effect on our results of operations or financial condition, nor are we aware of any such legal proceedings contemplated by governmental authorities.

Selected Quarterly Data (Unaudi

Selected Quarterly Data (Unaudited)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Data (Unaudited)	Note 8. Selected Quarterly Data (Unaudited) The following is a summary of quarterly financial information for the years ended December, 31, 2019 and 2018. Three months ended March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 Total revenues $ 3,459,128 $ 4,309,571 $ 4,502,793 $ 4,976,849 Total operating expenses 4,779,831 5,400,052 5,929,491 6,550,524 Operating loss (1,320,703 ) (1,090,481 ) (1,426,698 ) (1,573,675 ) Net loss (2,416,506 ) (2,752,178 ) (1,959,538 ) (2,440,506 ) Net loss attributable to common stockholders (2,412,725 ) (2,748,977 ) (1,957,502 ) (2,438,027 ) Net loss per Class A share-basic and diluted (0.43 ) (0.37 ) (0.24 ) (0.27 ) Net loss per Class T share-basic and diluted (0.43 ) (0.37 ) (0.24 ) (0.27 ) Net loss per Class W share- basic and diluted (0.43 ) (0.37 ) (0.24 ) (0.27 ) Three months ended March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 Total revenues $ 358,104 $ 824,113 $ 1,565,837 3,015,974 Total operating expenses 952,026 1,877,012 2,394,010 4,058,474 Operating loss (593,922 ) (1,052,899 ) (828,173 ) (1,042,500 ) Net loss (568,747 ) (956,985 ) (1,185,278 ) (2,008,943 ) Net loss attributable to common stockholders (566,467 ) (954,195 ) (1,182,557 ) (2,005,066 ) Net loss per Class A share-basic and diluted (0.26 ) (0.32 ) (0.31 ) (0.44 ) Net loss per Class T share-basic and diluted (0.26 ) (0.32 ) (0.31 ) (0.44 ) Net loss per Class W share- basic and diluted (0.26 ) (0.32 ) (0.31 ) (0.44 )

Declaration of Distributions

Declaration of Distributions	12 Months Ended
	Dec. 31, 2019
Text Block [Abstract]
Declaration of Distributions	Note 9. Declaration of Distributions Cash Distribution Declaration On December 18, 2019, our board of directors declared a daily distribution rate for the first quarter of 2020 of approximately $0.00427 per day per share on the outstanding shares of common stock payable to Class A, Class T and Class W stockholders of record of such shares as shown on our books as of the close of business on each day during the period commencing on January 1, 2020 and ending March 31, 2020. In connection with this distribution, for the stockholders of Class T shares, after the stockholder servicing fee is paid, approximately $0.00361 per day will be paid per Class T share and for the stockholders of Class W shares, after the dealer manager servicing fee is paid, approximately $0.00396 per day will be paid per Class W share. Such distributions payable to each stockholder of record during a month will be paid the following month.

Potential Acquisitions

Potential Acquisitions	12 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
Potential Acquisitions	Note 10. Potential Acquisitions San Gabriel Property On January 4, 2018, one of our subsidiaries executed a purchase and sale agreement with an unaffiliated third party for the acquisition of a property that is being developed into a self storage facility located in San Gabriel, California (the “San Gabriel Property”). The purchase price for the San Gabriel Property is approximately $13.5 million, plus closing and acquisition costs. We expect the acquisition of the San Gabriel Property to close in the first half of 2021 after construction is complete on the self storage facility and a certificate of occupancy has been issued. We expect to fund such acquisition with net proceeds from our Public Offering and/or debt financing. If we fail to acquire the San Gabriel Property, in addition to the incurred acquisition costs, we may also forfeit approximately $200,000 in earnest money as a result. Piscataway Property On August 7, 2019, a subsidiary of our Sponsor assigned its interest in a purchase and sale agreement, as subsequently amended, with an unaffiliated third party for the acquisition of a self storage facility located in Piscataway, New Jersey (the “Piscataway Property”) to one of our subsidiaries. The purchase price for the Piscataway Property is approximately We expect the acquisition of the Piscataway Property to close in the second quarter of 2020. We expect to fund such acquisition with net proceeds from our Public Offering and/or our revolving credit facility. If we fail to acquire the Piscataway Property, we may also forfeit approximately $100,000 in earnest money as a result.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 11. Subsequent Events Completed Acquisition Escondido Property On April 16, 2018, one of our subsidiaries executed a purchase and sale agreement with an unaffiliated third party for the acquisition of a property that is being developed into a self storage facility located in Escondido, California (the “Escondido Property”). On January 17, 2020, upon issuance of the certificate of occupancy, we acquired the Escondido Property for a purchase price of approximately $18.0 million plus closing and acquisition costs which was primarily funded with a $9.0 million draw on the Revolving KeyBank Credit Facility and a $7.0 million draw on the KeyBank Bridge Loan. In conjunction with the acquisition, our approximately $2.5 million preferred equity investment in the entity that developed the Escondido Property along with the preferred return was redeemed as a reduction to the purchase price. Such investment had an annual preferred return of 8%, paid quarterly, with an additional 4% preferred return redeemable at the close of the property. We accounted for this preferred equity investment using the equity method of accounting and it is included in other assets in the accompanying consolidated balance sheets as of December 31, 2019 and 2018, respectively. Potential Acquisition Punta Gorda Property On March 17, 2020, a subsidiary of our Sponsor assigned its interest in a purchase and sale agreement with an unaffiliated third party for the acquisition of a self storage facility located in Punta Gorda, Florida (the “Punta Gorda Property”) to one of our subsidiaries. The purchase price for the Punta Gorda Property is approximately $17.5 million, plus closing and acquisition costs. We expect the acquisition of the Punta Gorda Property to close in the second quarter of 2020. We expect to fund such acquisition with net proceeds from our Public Offering and/or debt financing. If we fail to acquire the Punta Gorda Property, we may also forfeit approximately $175,000 in earnest money as a result. CMBS Loan On January 31, 2020, we, through seven wholly-owned special purposes entities, entered into a $40.5 million CMBS financing with KeyBank National Association (“KeyBank”) as lender pursuant to a mortgage loan (the “CMBS Loan”). We used $40 million of the proceeds from the CMBS Loan to pay down the Revolving KeyBank Credit Facility, as described below under the heading “Revolving KeyBank Credit Facility.” The CMBS Loan is secured by a first mortgage or deed of trust on each of seven properties owned by us. The loan has a maturity date of February 1, 2030. Monthly payments due under the loan agreement (the “CMBS Loan Agreement”) are interest-only, with the full principal amount becoming due and payable on the maturity date. The amounts outstanding under the CMBS Loan bear interest at an annual fixed rate equal to 3.56%. Commencing two years after securitization, the CMBS Loan may be defeased in whole, but not in part, subject to certain conditions as set forth in the CMBS Loan Agreement. The loan documents for the CMBS Loan contain: customary affirmative and negative covenants; agreements; representations; warranties and borrowing conditions; reserve requirements and events of default all as set forth in such loan documents. In addition, and pursuant to the terms of the limited recourse guaranty dated January 31, 2020 in favor of KeyBank, we serve as a non-recourse guarantor with respect to the CMBS Loan. KeyBank Bridge Loan On January 17, 2020, we closed on a bridge loan (the “KeyBank Bridge Loan”) with KeyBank. Until March 31, 2020, we may make a limited number of draws on the KeyBank Bridge Loan, up to an aggregate amount of $12 million. The draws are secured by pledges of equity interests in certain of our property owning subsidiaries and a pledge of the proceeds received by us from certain capital events. Concurrent with the closing, we drew $7 million on the KeyBank Bridge Loan to close the Escondido Property, which was secured by a pledge of the equity interests in four of our property owning subsidiaries. Monthly payments are interest only at a rate of LIBOR plus 275 basis points, and the KeyBank Bridge Loan must be paid in full by July 15, 2020. We serve as a full recourse guarantor. On January 29, 2020, we paid down $3 million of the Bridge Loan. Revolving KeyBank Credit Facility On January 17, 2020, in conjunction with the acquisition of the Escondido Property we drew $9.0 million on the Revolving KeyBank Credit Facility. On January 31, 2020, we, through seven wholly-owned special purposes entities, entered into the previously described CMBS Loan. We used $40 million of the proceeds from the CMBS Loan to pay down the Revolving KeyBank Credit Facility. As a result of this, seven properties were released as collateral under the Revolving KeyBank Credit Facility and now serve as collateral under the CMBS Loan. Accordingly, as of January 31, 2020, we had an outstanding principal balance under the Revolving KeyBank Credit Facility of $73 million. Offering S As of March 6, 2020, in connection with our Private Offering Transaction and Public Offering, we have issued approximately 5,157,000 Class A shares for gross offering proceeds of approximately $127.4 million, approximately 3,829,000 Class T shares for gross offering proceeds of approximately $92.4 million and approximately 1,072,000 Class W shares for gross offering proceeds of approximately $24.4 million. Novel Coronavirus (COVID-19) Update In December 2019, COVID-19 emerged in Wuhan, Hubei Province, China. While initially the outbreak was largely concentrated in China and caused significant disruptions to its economy, it has now spread to many other countries and infections have been reported globally, including in the United States and in some of the markets in which we operate. Our rental revenue and operating results depend significantly on the demand for self storage space. While we have not seen a significant impact on the demand for self storage space resulting from the COVID-19 outbreak as of the date of this report, if the outbreak causes weakness in national, regional and local economies that negatively impact the demand for self storage space and/or increase bad debts, our business, financial condition, liquidity, results of operations and prospects could be adversely impacted.

Schedule III

Schedule III	12 Months Ended
	Dec. 31, 2019
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Schedule III	STRATEGIC STORAGE TRUST IV, INC. AND SUBSIDIARIES SCHEDULE III December 31, 2019 Initial Cost to Company Gross Carrying Amount at December 31, 2019 Description ST Encumbrance Land Building and Improvements Total Cost Capitalized Subsequent to Acquisition Land Building and Improvements (1) Total Accumulated Depreciation Date of Construction Date Acquired Jensen Beach FL $ 2,447,349 $ 902,914 $ 3,813,828 $ 4,716,742 $ 134,292 $ 902,914 $ 3,948,120 $ 4,851,034 $ (414,164 ) 1979 4/11/2017 Texas City TX 3,935,535 811,062 6,783,936 7,594,998 188,123 811,062 6,972,059 7,783,121 (526,747 ) 2010 11/17/2017 Riverside CA 3,386,735 1,110,557 5,472,815 6,583,372 159,851 1,110,557 5,632,666 6,743,223 (324,429 ) 1984 3/27/2018 Las Vegas I NV 4,523,887 2,218,730 6,622,998 8,841,728 69,985 2,218,730 6,692,983 8,911,713 (364,584 ) 1996 4/05/2018 Puyallup WA 6,724,029 3,370,390 9,588,463 12,958,853 88,567 3,370,390 9,677,030 13,047,420 (561,924 ) 1990 5/22/2018 Las Vegas II NV 6,328,498 2,150,182 10,203,441 12,353,623 94,956 2,150,182 10,298,397 12,448,579 (486,083 ) 2006 7/18/2018 Naples FL 13,215,685 6,977,488 19,343,811 26,321,299 49,789 6,977,488 19,393,600 26,371,088 (828,708 ) 2001 8/01/2018 Woodlands I TX 4,425,005 932,000 8,791,302 9,723,302 106,227 932,000 8,897,529 9,829,529 (342,984 ) 2002 10/10/2018 Katy TX 2,182,207 945,000 8,087,652 9,032,652 82,807 945,000 8,170,459 9,115,459 (311,438 ) 2003 10/10/2018 Humble TX 3,664,572 1,129,000 6,717,806 7,846,806 66,584 1,129,000 6,784,390 7,913,390 (311,907 ) 2004 10/10/2018 Woodlands II TX 4,677,156 2,075,000 6,961,618 9,036,618 127,730 2,075,000 7,089,348 9,164,348 (303,244 ) 2007 10/10/2018 College Station TX 3,626,971 1,065,000 5,943,870 7,008,870 36,967 1,065,000 5,980,837 7,045,837 (262,260 ) 2004 10/10/2018 Cypress TX 3,090,087 1,484,000 5,083,471 6,567,471 82,648 1,484,000 5,166,119 6,650,119 (220,919 ) 2002 10/10/2018 Queenston TX 3,149,417 1,314,500 5,614,928 6,929,428 53,867 1,314,500 5,668,795 6,983,295 (214,083 ) 2007 11/06/2018 Plant City FL 7,169,002 1,168,000 12,520,543 13,688,543 70,889 1,168,000 12,591,432 13,759,432 (515,665 ) 2004 1/08/2019 Newark NJ 14,832,418 12,815,000 15,801,948 28,616,948 5,250 12,815,000 15,807,198 28,622,198 (379,556 ) 1931 3/26/2019 Redmond WA 5,685,760 4,506,000 6,584,690 11,090,690 30,123 4,506,000 6,614,813 11,120,813 (100,645 ) 1997 7/23/2019 Ocoee FL — 1,171,000 12,055,585 13,226,585 1,847 1,171,000 12,057,432 13,228,432 (56,295 ) 2019 11/05/2019 Ardrey Kell NC — 2,354,000 15,605,795 17,959,795 3,999 2,354,000 15,609,794 17,963,794 (73,169 ) 2018 11/05/2019 University City NC 5,883,526 2,134,000 9,354,821 11,488,821 3,993 2,134,000 9,358,814 11,492,814 (45,267 ) 2017 11/05/2019 Charlottesville VA 10,234,368 1,806,270 18,379,250 20,185,520 3,448 1,806,270 18,382,698 20,188,968 (84,539 ) 2017 11/05/2019 Surprise AZ — 1,394,000 6,687,661 8,081,661 66,021 1,394,000 6,753,682 8,147,682 (14,183 ) 2019 12/12/2019 $ 109,182,207 $ 53,834,093 $ 206,020,232 $ 259,854,325 $ 1,527,963 $ 53,834,093 $ 207,548,195 $ 261,382,288 $ (6,742,793 ) (1) The aggregate cost of real estate for United States federal income tax purposes is $284,727,246. STRATEGIC STORAGE TRUST IV, INC. AND SUBSIDIARIES REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2019 Activity in real estate facilities during 2019 was as follows: 2019 Real estate facilities Balance at beginning of year $ 135,980,078 Facility acquisitions 124,338,543 Improvements 1,063,667 Balance at end of year $ 261,382,288 Accumulated depreciation Balance at beginning of year $ (1,769,436 ) Depreciation expense (4,973,357 ) Balance at end of year $ (6,742,793 ) Real estate facilities, net $ 254,639,495

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC.
Principles of Consolidation	Principles of Consolidation Our financial statements, and the financial statements of our Operating Partnership, including its wholly-owned subsidiaries, are consolidated in the accompanying consolidated financial statements. The portion of these entities not wholly-owned by us is presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated in consolidation.
Consolidation Considerations	Consolidation Considerations Current accounting guidance provides a framework for identifying a variable interest entity (“VIE”) and determining when a company should include the assets, liabilities, noncontrolling interests, and results of activities of a VIE in its consolidated financial statements. In general, a VIE is an entity or other legal structure used to conduct activities or hold assets that either (1) has an insufficient amount of equity to carry out its principal activities without additional subordinated financial support, (2) has a group of equity owners that are unable to make significant decisions about its activities, or (3) has a group of equity owners that do not have the obligation to absorb losses or the right to receive returns generated by its operations. Generally, a VIE should be consolidated if a party with an ownership, contractual, or other financial interest in the VIE (a variable interest holder) has the power to direct the VIE’s most significant activities and the obligation to absorb losses or right to receive benefits of the VIE that could be significant to the VIE. A variable interest holder that consolidates the VIE is called the primary beneficiary. Upon consolidation, the primary beneficiary generally must initially record all of the VIE’s assets, liabilities, and noncontrolling interest at fair value and subsequently account for the VIE as if it were consolidated based on majority voting interest. Our Operating Partnership is deemed to be a VIE and is consolidated by the Company as the primary beneficiary. As of December 31, 2019 and 2018, we had not entered into any other contracts/interests that would be deemed to be variable interests in VIEs other than our joint ventures with SmartCentres and our preferred equity investment, which are all accounted for under the equity method of accounting. Please see Note 4 and Note 11 – Completed Acquisitions – Escondido Property. Other than the entities noted above, we do not currently have any relationships with unconsolidated entities or financial partnerships. Under the equity method, our investments will be stated at cost and adjusted for our share of net earnings or losses and reduced by distributions. Equity in earnings will generally be recognized based on our ownership interest in the earnings of each of the unconsolidated investments.
Noncontrolling Interest in Consolidated Entities	Noncontrolling Interest in Consolidated Entities We account for the noncontrolling interest in our Operating Partnership in accordance with the related accounting guidance. Due to our control through our general partnership interest in our Operating Partnership and the limited rights of the limited partner, our Operating Partnership, including its wholly-owned subsidiaries, are consolidated with the Company and the limited partner interest is reflected as a noncontrolling interest in the accompanying consolidated balance sheets. The noncontrolling interest shall be attributed its share of income and losses, even if that attribution results in a deficit noncontrolling interest balance.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions. Management will adjust such estimates when facts and circumstances dictate. Actual results could materially differ from those estimates. The most significant estimates made include the allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed at relative fair value, the determination if certain entities should be consolidated, the evaluation of potential impairment of long-lived assets, and the estimated useful lives of real estate assets and intangibles.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all short-term, highly liquid investments that are readily convertible to cash with a maturity of three months or less at the time of purchase to be cash equivalents. We may maintain cash and cash equivalents in financial institutions in excess of insured limits, but believe this risk will be mitigated by only investing in or through major financial institutions.
Restricted Cash	Restricted Cash Restricted cash consists primarily of impound reserve accounts for property taxes and capital improvements in connection with the requirements of one of our loan agreements.
Real Estate Purchase Price Allocation	Real Estate Purchase Price Allocation We account for acquisitions in accordance with GAAP which requires that we allocate the purchase price of a property to the tangible and intangible assets acquired and the liabilities assumed based on their relative fair values. This guidance requires us to make significant estimates and assumptions, including fair value estimates, which requires the use of significant unobservable inputs, as of the acquisition date. The value of the tangible assets, consisting of land and buildings, is determined as if vacant. Substantially all of the leases in place at acquired properties are at market rates, as the majority of the leases are month-to-month contracts. We also consider whether in-place, market leases represent an intangible asset. We recorded approximately $4.5 million and $5.5 million in intangible assets to recognize the value of in-place leases related to our acquisitions during the years ended December 31, 2019 and 2018, respectively. We do not expect, nor to date have we recorded, intangible assets for the value of customer relationships because we expect we will not have concentrations of significant customers and the average customer turnover will be fairly frequent. Allocation of purchase price to acquisitions of facilities are allocated to the individual facilities based upon an income approach or a cash flow analysis using appropriate risk adjusted capitalization rates which take into account the relative size, age, and location of the individual facility along with current and projected occupancy and rental rate levels or appraised values, if available. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business, as defined under current GAAP, are accounted for as asset acquisitions. During the years ended December 31, 2019 and 2018, our acquisitions have not met the definition of a business because substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets (i.e. land, buildings, and related intangible assets) or because the acquisition does not include a substantive process in the form of an acquired workforce or an acquired contract that cannot be replaced without significant cost, effort or delay. As a result, once an acquisition is deemed probable, transaction costs are capitalized rather than expensed. During the years ended December 31, 2019 and 2018, we acquired eight and twelve properties, respectively, that did not meet the definition of a business, and we capitalized approximately $520,000 and $515,000, respectively, of acquisition-related transaction costs that would have otherwise been expensed under the guidance in effect prior to January 1, 2018. During the years ended December 31, 2019, 2018, and 2017 we expensed approximately $1.1 million, $1.3 million, and $0.4 million, respectively, of acquisition-related transaction costs that did not meet our capitalization policy during the respective periods.
Evaluation of Possible Impairment of Long-Lived Assets	Evaluation of Possible Impairment of Long-Lived Assets Management monitors events and changes in circumstances that could indicate that the carrying amounts of our long-lived assets, including those held through joint ventures, may not be recoverable. When indicators of potential impairment are present that indicate that the carrying amounts of the assets may not be recoverable, we will assess the recoverability of the assets by determining whether the carrying value of the long-lived assets will be recovered through the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying value, we will adjust the value of the long-lived assets to the fair value and recognize an impairment loss. For the years ended December 31, 2019, 2018 and 2017, no impairment losses were recognized.
Revenue Recognition	Revenue Recognition Management believes that all of our leases are operating leases. Rental income is recognized in accordance with the terms of the leases, which generally are month-to-month. Revenues from any long-term operating leases are recognized on a straight-line basis over the term of the lease. In March 2019, in connection with the acquisition of a self storage facility in Newark, New Jersey, we entered into a ten year operating lease with the seller for warehouse space. The lease contains scheduled base rent increases and future minimum lease payments totaling approximately $6.9 million. The excess of rents received over amounts contractually due pursuant to the underlying leases is included in accounts payable and accrued liabilities in our consolidated balance sheets and contractually due but unpaid rent is included in other assets.
Real Estate Facilities	Real Estate Facilities Real estate facilities are recorded based on relative fair value as of the date of acquisition. We capitalize costs incurred to develop, construct, renovate and improve properties, including interest and property taxes incurred during the construction period. The construction period begins when expenditures for the real estate assets have been made and activities that are necessary to prepare the asset for its intended use are in progress. The construction period ends when the asset is substantially complete and ready for its intended use.
Depreciation of Real Property Assets	Depreciation of Real Property Assets Our management is required to make subjective assessments as to the useful lives of our depreciable assets. We consider the period of future benefit of the asset to determine the appropriate useful lives. Depreciation of our real property assets is charged to expense on a straight-line basis over the estimated useful Description Standard Depreciable Life Land Not Depreciated Buildings 35 years Site Improvements 7-10 years
Depreciation of Personal Property Assets	Depreciation of Personal Property Assets Personal property assets consist primarily of furniture, fixtures and equipment and are depreciated on a straight-line basis over the estimated useful lives generally ranging from 3 to 5 years, and are included in other assets on our consolidated balance sheets.
Foreign Currency Translation	Foreign Currency Translation For non-U.S. functional currency operations, assets and liabilities are translated to U.S. dollars at current exchange rates. Revenues and expenses are translated at the average rates for the period. All related adjustments are recorded in accumulated other comprehensive income (loss) as a separate component of equity. Transactions denominated in a currency other than the functional currency of the related operation are recorded at rates of exchange in effect at the date of the transaction. Gains or losses on foreign currency transactions are recorded in other income (expense).
Intangible Assets	Intangible Assets We have allocated a portion of our real estate purchase price to in-place lease intangibles. We are amortizing in-place lease intangibles on a straight-line basis over the estimated future benefit period. As of December 31, 2019 and 2018, the gross amounts allocated to in-place lease intangibles were approximately $10.5 million and $6.1 million, respectively, and accumulated amortization of in-place lease intangibles totaled approximately $7.1 million and $1.9 million, respectively. The total estimated future amortization expense of intangible assets for the years ending December 31, 2020 and 2021 is approximately $3.0 million and $0.4 million, respectively.
Debt Issuance Costs	Debt Issuance Costs The net carrying value of costs incurred in connection with our revolving credit facility are presented as debt issuance costs on our consolidated balance sheets. Debt issuance costs are amortized on a straight-line basis over the term of the related loan, which is not materially different than the effective interest method. As of December 31, 2019 and 2018, accumulated amortization of debt issuance costs related to our revolving credit facility totaled approximately $0.2 million and none, respectively The net carrying value of costs incurred in connection with obtaining non revolving debt are presented on the consolidated balance sheets as a reduction of the related debt. Debt issuance costs are amortized on a straight-line basis over the term of the related loan, which is not materially different than the effective interest method. As of December 31, 2019 and 2018, accumulated amortization of debt issuance costs related to non revolving debt totaled approximately $4,000 and $0.4 million, respectively.
Organizational and Offering Costs	Organizational and Offering Costs Our Advisor may fund organization and offering costs on our behalf. We are required to reimburse our Advisor for such organization and offering costs; provided, however, our Advisor will fund, and will not be reimbursed for, 1.15% of the gross offering proceeds from the sale of Class W shares towards payment of organization and offering expenses, which we will recognize as a capital contribution from our Advisor. Our Advisor must reimburse us within 60 days after the end of the month in which the initial public offering terminates to the extent we paid or reimbursed organization and offering costs (excluding sales commissions, dealer manager fees, stockholder servicing fees and dealer manager servicing fees) in excess of 3.5% of the gross offering proceeds from the Primary Offering. If at any point in time we determine that the total organization and offering costs are expected to exceed 3.5% of the gross proceeds anticipated to be received from the Primary Offering, we will recognize such excess as a capital contribution from our Advisor. Offering costs are recorded as an offset to additional paid-in capital, and organization costs are recorded as an expense. In connection with our Primary Offering, our Dealer Manager will receive a sales commission of up to 6.0% of gross proceeds from sales of Class A shares and up to 3.0% of gross proceeds from the sales of Class T shares in the Primary Offering and a dealer manager fee up to 3.0% of gross proceeds from sales of both Class A shares and Class T shares in the Primary Offering under the terms of the Dealer Manager Agreement. Our Dealer Manager does not receive an upfront sales commission or dealer manager fee from the sales of Class W shares in the Primary Offering. In addition, our Dealer Manager receives an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365th of 1% of the purchase price per share of the Class T shares sold in the Primary Offering. Our Dealer Manager also receives an ongoing dealer manager servicing fee that is payable monthly and accrues daily in an amount equal to 1/365th of 0.5% of the purchase price per share of the Class W shares sold in the Primary Offering. We will cease paying the stockholder servicing fee with respect to the Class T shares sold in the Primary Offering at the earlier of (i) the date we list our shares on a national securities exchange, merge or consolidate with or into another entity, or sell or dispose of all or substantially all of our assets, (ii) the date at which the aggregate underwriting compensation from all sources equals 10% of the gross proceeds from the sale of Class A shares, Class T shares, and Class W shares in our Primary Offering (i.e., excluding proceeds from sales pursuant to our distribution reinvestment plan), which calculation shall be made by us with the assistance of our Dealer Manager commencing after the termination of our Primary Offering; (iii) with respect to a particular Class T share, the third anniversary of the issuance of the share; and (iv) the date that such Class T share is redeemed or is no longer outstanding. We will cease paying the dealer manager servicing fee with respect to the Class W shares sold in the Primary Offering at the earlier of (i) the date we list our shares on a national securities exchange, merge or consolidate with or into another entity, or sell or dispose of all or substantially all of our assets, (ii) the date at which the aggregate underwriting compensation from all sources equals 10% of the gross proceeds from the sale of Class A shares, Class T shares, and Class W shares in our Primary Offering (i.e., excluding proceeds from sales pursuant to our distribution reinvestment plan),which calculation shall be made by us with the assistance of our Dealer Manager commencing after the termination of our Primary Offering; (iii) the end of the month in which the aggregate underwriting compensation paid in our Primary Offering with respect to Class W shares, comprised of the dealer manager servicing fee, equals 9.0% of the gross proceeds from the sale of Class W shares in our Primary Offering (i.e., excluding proceeds from sales pursuant to our distribution reinvestment plan), which calculation shall be made by us with the assistance of our Dealer Manager commencing after the termination of our Primary Offering, and (iv) the date that such Class W share is redeemed or is no longer outsta nding. Our Dealer Manager enters into participating dealer agreements with certain other broker-dealers which authorize them to sell our shares. Upon sale of our shares by such broker-dealers, our Dealer Manager will re-allow all of the sales commissions and, subject to certain limitations, the stockholder servicing fees paid in connection with sales made by these broker-dealers. Our Dealer Manager may also re-allow to these broker-dealers a portion of their dealer manager fee as marketing fees, reimbursement of certain costs and expenses of attending training and education meetings sponsored by our Dealer Manager, payment of attendance fees required for employees of our Dealer Manager or other affiliates to attend retail seminars and public seminars sponsored by these broker-dealers, or to defray other distribution-related expenses. Our Dealer Manager will also receive reimbursement of bona fide due diligence expenses; however, to the extent these due diligence expenses cannot be justified, any excess over actual due diligence expenses would have been considered underwriting compensation subject to a 10% FINRA limitation and, when aggregated with all other non-accountable expenses in connection with our Public Offering, may not exceed 3% of gross offering proceeds from sales in the Public Offering. We record a liability within Due to Affiliates for the future estimated stockholder and dealer manager servicing fees and a reduction to additional paid-in capital at the time of sale of the Class T and Class W shares as an offering cost.
Redeemable Common Stock	Redeemable Common Stock We adopted a share redemption program that will enable stockholders to sell their shares to us in limited circumstances. We record amounts that are redeemable under the share redemption program as redeemable common stock in the accompanying consolidated balance sheets since the shares are redeemable at the option of the holder and therefore their redemption is outside our control. The maximum amount redeemable under our share redemption program will be limited to the number of shares we could repurchase with the amount of the net proceeds from the sale of shares under the distribution reinvestment plan. However, accounting guidance states that determinable amounts that can become redeemable but that are contingent on an event that is likely to occur (e.g., the passage of time) should be presented as redeemable when such amount is known. Therefore, the net proceeds from the distribution reinvestment plan are considered to be temporary equity and are presented as redeemable common stock in our consolidated balance sheets. In addition, current accounting guidance requires, among other things, that financial instruments that represent a mandatory obligation of us to repurchase shares be classified as liabilities and reported at settlement value. Our redeemable common shares are contingently redeemable at the option of the holder. When we determine we have a mandatory obligation to repurchase shares under the share redemption program, we will reclassify such obligations from temporary equity to a liability based upon their respective settlement values. For the year ended December 31, 2019, we received redemption requests totaling approximately $1.4 million (approximately 62,000 shares), approximately $0.7 million of which were fulfilled during the year ended December 31, 2019, with the remaining approximately $0.7 million included in accounts payable and accrued liabilities as of December 31, 2019, and fulfilled in January 2020. For the year ended December 31, 2018, we received redemption requests totaling approximately $110,000 (approximately 4,900 shares), approximately $30,000 of which were fulfilled during the year ended December 31, 2018, with the remaining approximately $80,000 included in accounts payable and accrued liabilities as of December 31, 2018, and fulfilled in January 2019.
Accounting for Equity Awards	Accounting for Equity Awards The cost of restricted stock is required to be measured based on the grant date fair value and the cost recognized over the relevant service period.
Fair Value Measurements	Fair Value Measurements Under GAAP, we are required to measure certain financial instruments at fair value on a recurring basis. In addition, we are required to measure other financial instruments and balances at fair value on a non-recurring basis. Fair value is defined by the accounting standard for fair value measurements and disclosures as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. It also establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels. The following summarizes the three levels of inputs and hierarchy of fair value we will use when measuring fair value: • Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access; • Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as interest rates and yield curves that are observable at commonly quoted intervals; and • Level 3 inputs are unobservable inputs for the assets or liabilities that are typically based on an entity’s own assumptions as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the fair value measurement will fall within the lowest level that is significant to the fair value measurement in its entirety. The accounting guidance for fair value measurements and disclosures provides a framework for measuring fair value and establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In determining fair value, we will utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as consider counterparty credit risk in our assessment of fair value. Considerable judgment will be necessary to interpret Level 2 and 3 inputs in determining fair value of our financial and non-financial assets and liabilities. Accordingly, there can be no assurance that the fair values we will present will be indicative of amounts that may ultimately be realized upon sale or other disposition of these assets. Financial and non-financial assets and liabilities measured at fair value on a non-recurring basis in our consolidated financial statements consist of real estate and related liabilities assumed related to our acquisitions. The fair values of these assets and liabilities were determined as of the acquisition dates using widely accepted valuation techniques, including (i) discounted cash flow analysis, which considers, among other things, leasing assumptions, growth rates, discount rates and terminal capitalization rates, (ii) income capitalization approach, which considers prevailing market capitalization rates, and (iii) comparable sales activity. In general, we consider multiple valuation techniques when measuring fair values. However, in certain circumstances, a single valuation technique may be appropriate. All of the fair values of the assets and liabilities as of the acquisition dates were derived using Level 3 inputs. The carrying amounts of cash and cash equivalents, restricted cash, other assets, variable – rate debt, accounts payable and accrued liabilities, distributions payable and amounts due to affiliates approximate fair value. The table below summarizes our fixed rate note payable at December 31, 2019 and 2018. December 31, 2019 December 31, 2018 Fair Value Carrying Value Fair Value Carrying Value Fixed Rate Secured Debt $ 2,300,000 $ 2,182,207 $ 2,350,000 $ 2,303,183
Income Taxes	Income Taxes We made an election to be taxed as a Real Estate Investment Trust (“REIT”), under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with our taxable year ended December 31, 2017. To qualify as a REIT, we must continue to meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the REIT’s ordinary taxable income to stockholders (which is computed without regard to the dividends paid deduction or net capital gains and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, we generally will not be subject to federal income tax on taxable income that we distribute to our stockholders. If we fail to qualify as a REIT in any taxable year, we will then be subject to federal income taxes on our taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost unless the IRS grants us relief under certain statutory provisions. Such an event could materially adversely affect our net income and net cash available for distribution to stockholders. However, we believe that we are organized and operate in such a manner as to qualify for treatment as a REIT and intend to operate in the foreseeable future in such a manner that we will remain qualified as a REIT for federal income tax purposes. Even if we continue to qualify for taxation as a REIT, we may be subject to certain state and local taxes on our income and property, and federal income and excise taxes on our undistributed income. We filed elections to treat our TRS as a taxable REIT subsidiary. In general, the TRS performs additional services for our customers and generally engages in any real estate or non-real estate related business. The TRS is subject to corporate federal and state income tax. The TRS follows accounting guidance which requires the use of the asset and liability method. Deferred income taxes represent the tax effect of future differences between the book and tax bases of assets and liabilities.
Per Share Data	Per Share Data Basic earnings per share attributable to our common stockholders for all periods presented is computed by dividing net income (loss) attributable to our common stockholders by the weighted average number of shares outstanding during the period, excluding unvested restricted stock. Diluted earnings per share is computed by including the dilutive effect of unvested restricted stock, utilizing the treasury stock method. For all periods presented the dilutive effect of unvested restricted stock was not included in the diluted weighted average shares as such shares were antidilutive.
Recently Issued Accounting Guidance	Recently Issued Accounting Guidance In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” ASU 2016-02 amends the guidance on accounting for leases. Under ASU 2016-02, lessees will be required to recognize the following for all leases (with the exception of short term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under ASU 2016-02, lessor accounting is largely unchanged. It also includes extensive amendments to the disclosure requirements. ASU 2016-02 is effective for fiscal years and interim periods beginning after December 15, 2018. We adopted this standard on January 1, 2019 using the modified retrospective approach, without applying the provisions to comparative periods presented. Its adoption did not have a material impact on our consolidated financial statements as substantially all of our lease revenues are derived from month-to-month leases and, as lessee, we have no significant leases. In addition, the new standard requires a lessor to assess the collectability of rental payments and amounts previously reflected in property operating expenses as bad debt expense are reflected as an adjustment to self storage rental revenue. The impact of this was a reduction in both self storage rental revenue and property operating expenses of approximately $220,000 for the year ended December 31, 2019.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Estimated Useful Lives used to Depreciate Real Property Assets	Depreciation of our real property assets is charged to expense on a straight-line basis over the estimated useful Description Standard Depreciable Life Land Not Depreciated Buildings 35 years Site Improvements 7-10 years
Summary of Fixed Rate Notes Payable	The table below summarizes our fixed rate note payable at December 31, 2019 and 2018. December 31, 2019 December 31, 2018 Fair Value Carrying Value Fair Value Carrying Value Fixed Rate Secured Debt $ 2,300,000 $ 2,182,207 $ 2,350,000 $ 2,303,183

Real Estate Facilities (Tables)

Real Estate Facilities (Tables)	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Summary of Activity in Real Estate Facilities	The following summarizes the activity in real estate facilities during the years ended December 31, 2019 and 2018: Real estate facilities Balance at December 31, 2017 $ 12,339,539 Facility acquisitions 123,204,022 Improvements and additions 436,517 Balance at December 31, 2018 135,980,078 Facility acquisitions 124,338,543 Improvements and additions 1,063,667 Balance at December 31, 2019 $ 261,382,288 Accumulated depreciation Balance at December 31, 2017 $ (138,219 ) Depreciation expense (1,631,217 ) Balance at December 31, 2018 (1,769,436 ) Depreciation expense (4,973,357 ) Balance at December 31, 2019 $ (6,742,793 )
Summary of Purchase Price Allocations for Acquisitions	The following table summarizes the purchase price allocations for our acquisitions during the year ended December 31, 2019: Property Acquisition Date Real Estate Assets Intangibles Total (1) 2019 Revenue (2) 2019 Property Operating Income (Loss) (2) (3) Plant City - FL 1/08/19 $ 13,688,543 $ 831,000 $ 14,519,543 $ 1,388,127 $ 861,419 Newark - NJ 3/26/19 28,616,948 1,429,000 30,045,948 2,387,683 1,597,033 Redmond - WA 7/23/19 11,090,690 434,000 11,524,690 357,979 188,043 Ocoee - FL 11/05/19 13,226,565 240,000 13,466,565 64,487 17,063 Ardrey Kell - NC 11/05/19 17,959,795 475,000 18,434,795 141,160 65,020 University City - NC 11/05/19 11,488,821 448,000 11,936,821 127,000 73,396 Charlottesville - VA 11/05/19 20,185,520 600,000 20,785,520 169,515 113,235 Surprise - AZ 12/12/19 8,081,661 - 8,081,661 812 (33,487 ) $ 124,338,543 $ 4,457,000 $ 128,795,543 $ 4,636,763 $ 2,881,722 (1) (2) (3) The following table summarizes the purchase price allocations for our acquisitions during the year ended December 31, 2018: Property Acquisition Date Real Estate Assets Intangibles Total (1) Debt Assumed 2018 Revenue (2) 2018 Property Operating Income (2) (3) Riverside - CA 3/27/18 $ 6,583,372 $ 281,736 $ 6,865,108 — $ 500,448 $ 259,590 Las Vegas I - NV 4/05/18 8,841,728 346,682 9,188,410 — 558,716 362,870 Puyallup - WA 5/22/18 12,958,853 672,423 13,631,276 — 745,745 481,834 Las Vegas II - NV 7/18/18 12,353,623 501,662 12,855,285 — 466,454 338,479 Naples - FL 8/01/18 26,321,299 972,211 27,293,510 — 773,181 578,949 Woodlands I - TX 10/10/18 9,723,302 432,000 10,155,302 — 203,176 122,513 Katy - TX 10/10/18 9,032,652 435,000 9,467,652 2,322,606 208,238 124,943 Humble - TX 10/10/18 7,846,806 405,000 8,251,806 — 201,356 102,998 Woodlands II - TX 10/10/18 9,036,618 441,000 9,477,618 — 202,579 123,418 College Station - TX 10/10/18 7,008,870 346,000 7,354,870 — 163,310 95,181 Cypress - TX 10/10/18 6,567,471 319,000 6,886,471 — 146,842 62,701 Queenston - TX 11/06/18 6,929,428 313,000 7,242,428 — 115,524 57,498 $ 123,204,022 $ 5,465,714 $ 128,669,736 $ 2,322,606 $ 4,285,569 $ 2,710,974 (1) (2) (3)

Investments in Unconsolidated_2

Investments in Unconsolidated Real Estate Ventures (Tables)	12 Months Ended
	Dec. 31, 2019
Equity Method Investments And Joint Ventures [Abstract]
Summary of Investments in Unconsolidated Real Estate Ventures	The following table summarizes our investments in unconsolidated real estate ventures: Carrying Value of Investment Location Date Real Estate Venture Acquired Land Equity Ownership % December 31, 2019 December 31, 2018 Expected Completion Oshawa Property Oshawa, Ontario September 2018 50% $ 1,793,565 $ 620,214 First half of 2021 East York Property East York, Ontario January 2019 50% 7,069,314 — First half of 2020 Brampton Property Brampton, Ontario September 2019 50% 3,249,402 2,693 Second half of 2020 Vaughan Property Vaughan, Ontario August 2019 50% 2,902,858 236,624 Second half of 2020 Scarborough Property Scarborough, Ontario Expected in first half of 2020 50% 74,847 — Second half of 2021 Kingspoint Property Kingspoint, Ontario Expected in second half of 2020 50% 26,209 — First half of 2022 $ 15,116,195 $ 859,531

Secured Debt (Tables)

Secured Debt (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Summary of Debt	The Company’s debt is summarized as follows: Secured Debt December 31 December 31, Interest Maturity 2019 2018 Rate Date Revolving KeyBank Credit Facility $ 107,000,000 $ — 3.3 % 6/27/2022 KeyBank Credit Facility — 62,000,000 N/A N/A Katy Loan 2,182,207 2,303,182 6.4 % 9/1/2031 Debt issuance costs, net (76,230 ) (525,321 ) Total Secured Debt $ 109,105,977 $ 63,777,861
Schedule of Secured Debt Future Principal Payments	The following table presents the future principal payment requirements on outstanding secured debt as of December 31, 2019: 2020 $ 128,922 2021 137,392 2022 107,146,419 (1) 2023 156,038 2024 166,290 2025 and thereafter 1,447,146 Total payments 109,182,207 Debt issuance costs, net (76,230 ) Total $ 109,105,977 (1) On January 31, 2020, we entered into a 10 year, interest only $40.5 million CMBS Loan. We used the proceeds of the CMBS Loan to pay down $40 million on the Revolving KeyBank Credit Facility. For more information please see Note 11.

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Summary of Related Party Costs	Pursuant to the terms of the agreements described above, the following table summarizes related party costs incurred and paid by us for the years ended December 31, 2018 and 2019, as well as any related amounts payable as of December 31, 2018 and 2019. Year Ended December 31, 2018 Year Ended December 31, 2019 Incurred Paid Payable Incurred Paid Payable Expensed Operating expenses (including organizational costs) $ 775,948 $ 754,396 $ 26,616 $ 1,247,017 $ 1,200,196 $ 73,437 Asset management fees 613,637 615,399 7,833 2,027,231 1,989,408 45,656 Property management fees 350,058 358,818 — 1,014,881 1,014,881 — Transfer Agent expenses 163,898 153,355 10,543 275,899 273,542 12,900 Acquisition expenses 666,416 666,416 — 652,167 652,167 — Capitalized Acquisition expenses 76,890 76,890 — 44,740 44,740 — Additional Paid-in Capital Selling commissions 3,884,006 3,838,693 45,313 4,702,176 4,714,469 33,020 Dealer Manager fees 1,352,419 1,351,849 16,253 1,774,215 1,772,811 17,657 Stockholder Servicing Fees and Dealer Manager Servicing Fees (1) 1,297,283 216,670 1,595,773 2,661,417 729,179 3,528,011 Offering costs 356,021 371,085 18,302 266,409 254,946 29,765 Total $ 9,536,576 $ 8,403,571 $ 1,720,633 $ 14,666,152 $ 12,646,339 $ 3,740,446 (1) We pay our Dealer Manager an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365 th th

Selected Quarterly Data (Unau_2

Selected Quarterly Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Financial Information	The following is a summary of quarterly financial information for the years ended December, 31, 2019 and 2018. Three months ended March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 Total revenues $ 3,459,128 $ 4,309,571 $ 4,502,793 $ 4,976,849 Total operating expenses 4,779,831 5,400,052 5,929,491 6,550,524 Operating loss (1,320,703 ) (1,090,481 ) (1,426,698 ) (1,573,675 ) Net loss (2,416,506 ) (2,752,178 ) (1,959,538 ) (2,440,506 ) Net loss attributable to common stockholders (2,412,725 ) (2,748,977 ) (1,957,502 ) (2,438,027 ) Net loss per Class A share-basic and diluted (0.43 ) (0.37 ) (0.24 ) (0.27 ) Net loss per Class T share-basic and diluted (0.43 ) (0.37 ) (0.24 ) (0.27 ) Net loss per Class W share- basic and diluted (0.43 ) (0.37 ) (0.24 ) (0.27 ) Three months ended March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 Total revenues $ 358,104 $ 824,113 $ 1,565,837 3,015,974 Total operating expenses 952,026 1,877,012 2,394,010 4,058,474 Operating loss (593,922 ) (1,052,899 ) (828,173 ) (1,042,500 ) Net loss (568,747 ) (956,985 ) (1,185,278 ) (2,008,943 ) Net loss attributable to common stockholders (566,467 ) (954,195 ) (1,182,557 ) (2,005,066 ) Net loss per Class A share-basic and diluted (0.26 ) (0.32 ) (0.31 ) (0.44 ) Net loss per Class T share-basic and diluted (0.26 ) (0.32 ) (0.31 ) (0.44 ) Net loss per Class W share- basic and diluted (0.26 ) (0.32 ) (0.31 ) (0.44 )

Organization - Additional Infor

Organization - Additional Information (Detail)	Jun. 21, 2019$ / sharesshares	Feb. 10, 2017	Jan. 25, 2017USD ($)shares	Jun. 15, 2016USD ($)shares	Dec. 31, 2019USD ($)EmployeePropertyStateUnconsolidatedRealEstateVentureContributionAgreementTractsofLand$ / sharesshares	Dec. 31, 2018$ / sharesshares	Dec. 31, 2017shares	Jun. 20, 2019$ / shares	Jan. 31, 2019TractsofLand	Jan. 17, 2017$ / sharesshares	Dec. 31, 2016shares	Jun. 01, 2016$ / sharesshares
Organization And Nature Of Operations [Line Items]
Date of formation of company					Jun. 1, 2016
Number of employees | Employee					0
Common Stock, shares authorized										700,000,000		30,000
Common Stock, par value | $ / shares										$ 0.001		$ 0.001
Preferred Stock, shares authorized					200,000,000	200,000,000				200,000,000
Preferred Stock, par value | $ / shares					$ 0.001	$ 0.001				$ 0.001
Shares issuable pursuant to distribution reinvestment plan | $					$ 95,000,000
Public offering period					180 days
Equity ownership percentage					50.00%
Number of unconsolidated real estate ventures | UnconsolidatedRealEstateVenture					4
Number of common stock issued | $ / shares										$ 0.001		$ 0.001
SmartCentres
Organization And Nature Of Operations [Line Items]
Equity ownership percentage					50.00%
Number of contribution agreements entered by subsidiary | ContributionAgreement					2
Number of tracts of land | TractsofLand					2				2
Arizona, California, Florida, Nevada, New Jersey, North Carolina, Texas, Virginia and Washington
Organization And Nature Of Operations [Line Items]
Number of operating self storage properties purchased | Property					22
Number of states | State					9
Primary Offering | Maximum
Organization And Nature Of Operations [Line Items]
Common stock, value authorized | $					$ 1,000,000,000
Class A Common Stock
Organization And Nature Of Operations [Line Items]
Common Stock, shares authorized					315,000,000	315,000,000				315,000,000
Common Stock, par value | $ / shares					$ 0.001	$ 0.001
Number of common stock issued | $ / shares					$ 0.001	$ 0.001
Class A Common Stock | Common Stock
Organization And Nature Of Operations [Line Items]
Common Stock, par value | $ / shares	$ 24.89							$ 22.65
Number of common stock issued	22.65		360,577		1,698,656	1,653,971	1,248,210
Gross proceeds from issuance of common stock | $			$ 7,500,000
Common Stock, shares outstanding					4,756,969	2,962,849	1,253,576				44
Number of common stock issued | $ / shares	$ 24.89							22.65
Gross proceeds from issuance of common stock (in shares)	22.65		360,577		1,698,656	1,653,971	1,248,210
Class A Common Stock | Pubic Offering | Common Stock
Organization And Nature Of Operations [Line Items]
Number of common stock issued					4,396,000
Gross proceeds from issuance of common stock | $					$ 109,500,000
Gross proceeds from issuance of common stock (in shares)					4,396,000
Class T Common Stock
Organization And Nature Of Operations [Line Items]
Common Stock, shares authorized					315,000,000	315,000,000				315,000,000
Common Stock, par value | $ / shares					$ 0.001	$ 0.001
Number of common stock issued | $ / shares					$ 0.001	$ 0.001
Class T Common Stock | Common Stock
Organization And Nature Of Operations [Line Items]
Common Stock, par value | $ / shares	$ 24.10							22.65
Number of common stock issued	22.65				1,972,406	1,117,785	424,613
Gross proceeds from issuance of common stock | $					$ 87,800,000
Common Stock, shares outstanding					3,627,582	1,570,411	426,228
Number of common stock issued | $ / shares	$ 24.10							22.65
Gross proceeds from issuance of common stock (in shares)	22.65				1,972,406	1,117,785	424,613
Class W Common Stock
Organization And Nature Of Operations [Line Items]
Common Stock, shares authorized					70,000,000	70,000,000				70,000,000
Common Stock, par value | $ / shares					$ 0.001	$ 0.001
Number of common stock issued | $ / shares					$ 0.001	$ 0.001
Class W Common Stock | Common Stock
Organization And Nature Of Operations [Line Items]
Common Stock, par value | $ / shares	$ 22.65							22.65
Number of common stock issued	22.65				612,393	237,087	109,749
Gross proceeds from issuance of common stock | $					$ 22,400,000
Common Stock, shares outstanding					978,115	353,991	110,646
Number of common stock issued | $ / shares	$ 22.65							$ 22.65
Gross proceeds from issuance of common stock (in shares)	22.65				612,393	237,087	109,749
Strategic Storage Advisor IV, LLC
Organization And Nature Of Operations [Line Items]
Sale of common shares to advisor | $				$ 1,000
Strategic Storage Advisor IV, LLC | Class A Common Stock
Organization And Nature Of Operations [Line Items]
Number of shares sold to advisor				44
Strategic Storage Operating Partnership IV, L.P.
Organization And Nature Of Operations [Line Items]
Date of formation of company					Jun. 2, 2016
Equity ownership percentage					99.90%
Advisor purchased a limited partnership interest in Operating Partnership | $				$ 200,000
Advisor purchased a limited partnership interest in Operating Partnership, number of partnership units				8,889
Initial capital contribution | $				$ 1,000
Percentage of common units owned by advisor					0.10%
SmartStop Asset Management
Organization And Nature Of Operations [Line Items]
Percentage of interest owned by sponsor					100.00%
Percentage of Property Management owned by sponsor					100.00%
Percentage of non-voting equity interest		15.00%
Transfer Agent
Organization And Nature Of Operations [Line Items]
Percentage of membership interest owned by prior sponsor					100.00%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019USD ($)PropertyContractshares	Dec. 31, 2018USD ($)PropertyContractshares	Dec. 31, 2017USD ($)	Mar. 31, 2019USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of contracts deemed to be in VIEs | Contract	0	0
Payments to acquire intangible assets	$ 4,500,000	$ 5,500,000
Business acquisition, transaction costs	1,100,000	1,300,000	$ 400,000
Impairment losses recognized	0	0	0
Operating lease term				10 years
Future minimum lease payments				$ 6,900,000
Gross amounts of lease intangibles	10,500,000	6,100,000
Accumulated amortization of lease intangibles	7,100,000	1,900,000
Total estimated future amortization expense of intangible assets, year 2020	3,000,000
Total estimated future amortization expense of intangible assets, year 2021	400,000
Accumulated amortization of debt issuance costs	$ 4,000	400,000
Maximum period for reimbursement of offering cost	60 days
Maximum offering cost rate	3.50%
Amount issued under distribution reinvestment plan	$ 33	1
Minimum percentage of ordinary taxable income to be distributed to stockholders	90.00%
Self storage rental revenue	$ 17,116,839	$ 5,736,613	$ 474,752
Distribution
Summary Of Significant Accounting Policies [Line Items]
Share issued under distribution reinvestment plan | shares	62,000	4,900
Redemption total	$ 1,400,000	$ 110,000
Amount issued under distribution reinvestment plan	700,000	30,000
Distribution | Accounts Payable and Accrued Liabilities
Summary Of Significant Accounting Policies [Line Items]
Amount issued under distribution reinvestment plan current	$ 700,000	80,000
Private Offering Dealer Manager Agreement
Summary Of Significant Accounting Policies [Line Items]
Underwriting compensation	10.00%
Maximum percentage other non-accountable expenses	3.00%
Class W Common Stock
Summary Of Significant Accounting Policies [Line Items]
Percentage of offering cost without reimbursement	1.15%
Class W Common Stock | Private Offering Dealer Manager Agreement
Summary Of Significant Accounting Policies [Line Items]
Percentage of gross proceeds from sale of shares	10.00%
Maximum dealer manager servicing fee percentage of proceeds from Primary Offering	9.00%
Class W Common Stock | Dealer Manager Servicing Fees
Summary Of Significant Accounting Policies [Line Items]
Monthly servicing fee accrual description	accrues daily in an amount equal to 1/365th of 0.5% of the purchase price per share
Class A Common Stock | Dealer Manager
Summary Of Significant Accounting Policies [Line Items]
Maximum sale commission fees percentage of proceed from Primary Offering	6.00%
Maximum dealer manager commission fee percentage of proceeds from Primary Offering	3.00%
Class A Common Stock | Private Offering Dealer Manager Agreement
Summary Of Significant Accounting Policies [Line Items]
Percentage of gross proceeds from sale of shares	10.00%
Class T Common Stock | Dealer Manager
Summary Of Significant Accounting Policies [Line Items]
Maximum sale commission fees percentage of proceed from Primary Offering	3.00%
Maximum dealer manager commission fee percentage of proceeds from Primary Offering	3.00%
Class T Common Stock | Private Offering Dealer Manager Agreement
Summary Of Significant Accounting Policies [Line Items]
Percentage of gross proceeds from sale of shares	10.00%
Class T Common Stock | Stockholder Servicing Fees
Summary Of Significant Accounting Policies [Line Items]
Monthly servicing fee accrual description	accrues daily in an amount equal to 1/365th of 1% of the purchase price per share
Revolving Credit Facility
Summary Of Significant Accounting Policies [Line Items]
Accumulated amortization of debt issuance costs	$ 200,000	$ 0
Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	3 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	5 years
ASU 2017-01
Summary Of Significant Accounting Policies [Line Items]
Number of properties not deemed a business acquisition | Property	8	12
Asset acquisition, capitalized transaction related costs	$ 520,000	$ 515,000
ASU 2016-02
Summary Of Significant Accounting Policies [Line Items]
Self storage rental revenue	(220,000)
Property operating expenses	$ (220,000)

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Estimated Useful Lives Used to Depreciate Real Property Assets (Detail)	12 Months Ended
	Dec. 31, 2019
Land
Property, Plant and Equipment [Line Items]
Standard Depreciable Life	Not Depreciated
Buildings
Property, Plant and Equipment [Line Items]
Standard Depreciable Life	35 years
Site Improvements | Minimum
Property, Plant and Equipment [Line Items]
Standard Depreciable Life	7 years
Site Improvements | Maximum
Property, Plant and Equipment [Line Items]
Standard Depreciable Life	10 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Fixed Rate Notes Payable (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Carrying Value	$ 109,105,977	$ 63,777,861
Fixed Rate Secured Debt
Debt Instrument [Line Items]
Fair Value	2,300,000	2,350,000
Carrying Value	$ 2,182,207	$ 2,303,183

Real Estate Facilities - Summar

Real Estate Facilities - Summary of Activity in Real Estate Facilities (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Real estate facilities
Real estate facilities, beginning balance	$ 135,980,078	$ 12,339,539
Facility acquisitions	124,338,543	123,204,022
Improvements and additions	1,063,667	436,517
Real estate facilities, ending balance	261,382,288	135,980,078
Accumulated depreciation
Accumulated depreciation, beginning balance	(1,769,436)	(138,219)
Depreciation expense	(4,973,357)	(1,631,217)
Accumulated depreciation, ending balance	$ (6,742,793)	$ (1,769,436)

Real Estate Facilities - Summ_2

Real Estate Facilities - Summary of Purchase Price Allocations for Acquisitions (Detail) - USD ($)		12 Months Ended
		Dec. 31, 2019		Dec. 31, 2018
Asset Acquisition [Line Items]
Real Estate Assets		$ 124,338,543		$ 123,204,022
Intangibles		4,457,000		5,465,714
Total		128,795,543	[1]	128,669,736	[2]
Debt Assumed				2,322,606
Revenue	[3]	4,636,763		4,285,569
Property Operating Income	[3]	$ 2,881,722	[4]	$ 2,710,974	[5]
FL | Plant City
Asset Acquisition [Line Items]
Acquisition Date		Jan. 8, 2019
Real Estate Assets		$ 13,688,543
Intangibles		831,000
Total	[1]	14,519,543
Revenue	[3]	1,388,127
Property Operating Income	[3],[4]	$ 861,419
FL | Ocoee
Asset Acquisition [Line Items]
Acquisition Date		Nov. 5, 2019
Real Estate Assets		$ 13,226,565
Intangibles		240,000
Total	[1]	13,466,565
Revenue	[3]	64,487
Property Operating Income	[3],[4]	$ 17,063
FL | Naples
Asset Acquisition [Line Items]
Acquisition Date				Aug. 1, 2018
Real Estate Assets				$ 26,321,299
Intangibles				972,211
Total	[2]			27,293,510
Revenue	[3]			773,181
Property Operating Income	[3],[5]			$ 578,949
NJ | Newark
Asset Acquisition [Line Items]
Acquisition Date		Mar. 26, 2019
Real Estate Assets		$ 28,616,948
Intangibles		1,429,000
Total	[1]	30,045,948
Revenue	[3]	2,387,683
Property Operating Income	[3],[4]	$ 1,597,033
WA | Redmond
Asset Acquisition [Line Items]
Acquisition Date		Jul. 23, 2019
Real Estate Assets		$ 11,090,690
Intangibles		434,000
Total	[1]	11,524,690
Revenue	[3]	357,979
Property Operating Income	[3],[4]	$ 188,043
WA | Puyallup
Asset Acquisition [Line Items]
Acquisition Date				May 22, 2018
Real Estate Assets				$ 12,958,853
Intangibles				672,423
Total	[2]			13,631,276
Revenue	[3]			745,745
Property Operating Income	[3],[5]			$ 481,834
NC | Ardrey Kell
Asset Acquisition [Line Items]
Acquisition Date		Nov. 5, 2019
Real Estate Assets		$ 17,959,795
Intangibles		475,000
Total	[1]	18,434,795
Revenue	[3]	141,160
Property Operating Income	[3],[4]	$ 65,020
NC | University City
Asset Acquisition [Line Items]
Acquisition Date		Nov. 5, 2019
Real Estate Assets		$ 11,488,821
Intangibles		448,000
Total	[1]	11,936,821
Revenue	[3]	127,000
Property Operating Income	[3],[4]	$ 73,396
VA | Charlottesville
Asset Acquisition [Line Items]
Acquisition Date		Nov. 5, 2019
Real Estate Assets		$ 20,185,520
Intangibles		600,000
Total	[1]	20,785,520
Revenue	[3]	169,515
Property Operating Income	[3],[4]	$ 113,235
AZ | Surprise
Asset Acquisition [Line Items]
Acquisition Date		Dec. 12, 2019
Real Estate Assets		$ 8,081,661
Total	[1]	8,081,661
Revenue	[3]	812
Property Operating Income	[3],[4]	$ (33,487)
NV | Las Vegas I
Asset Acquisition [Line Items]
Acquisition Date				Apr. 5, 2018
Real Estate Assets				$ 8,841,728
Intangibles				346,682
Total	[2]			9,188,410
Revenue	[3]			558,716
Property Operating Income	[3],[5]			$ 362,870
NV | Las Vegas II
Asset Acquisition [Line Items]
Acquisition Date				Jul. 18, 2018
Real Estate Assets				$ 12,353,623
Intangibles				501,662
Total	[2]			12,855,285
Revenue	[3]			466,454
Property Operating Income	[3],[5]			$ 338,479
CA | Riverside
Asset Acquisition [Line Items]
Acquisition Date				Mar. 27, 2018
Real Estate Assets				$ 6,583,372
Intangibles				281,736
Total	[2]			6,865,108
Revenue	[3]			500,448
Property Operating Income	[3],[5]			$ 259,590
TX | Woodlands I
Asset Acquisition [Line Items]
Acquisition Date				Oct. 10, 2018
Real Estate Assets				$ 9,723,302
Intangibles				432,000
Total	[2]			10,155,302
Revenue	[3]			203,176
Property Operating Income	[3],[5]			$ 122,513
TX | Katy
Asset Acquisition [Line Items]
Acquisition Date				Oct. 10, 2018
Real Estate Assets				$ 9,032,652
Intangibles				435,000
Total	[2]			9,467,652
Debt Assumed				2,322,606
Revenue	[3]			208,238
Property Operating Income	[3],[5]			$ 124,943
TX | Humble
Asset Acquisition [Line Items]
Acquisition Date				Oct. 10, 2018
Real Estate Assets				$ 7,846,806
Intangibles				405,000
Total	[2]			8,251,806
Revenue	[3]			201,356
Property Operating Income	[3],[5]			$ 102,998
TX | Woodlands II
Asset Acquisition [Line Items]
Acquisition Date				Oct. 10, 2018
Real Estate Assets				$ 9,036,618
Intangibles				441,000
Total	[2]			9,477,618
Revenue	[3]			202,579
Property Operating Income	[3],[5]			$ 123,418
TX | College Station
Asset Acquisition [Line Items]
Acquisition Date				Oct. 10, 2018
Real Estate Assets				$ 7,008,870
Intangibles				346,000
Total	[2]			7,354,870
Revenue	[3]			163,310
Property Operating Income	[3],[5]			$ 95,181
TX | Cypress
Asset Acquisition [Line Items]
Acquisition Date				Oct. 10, 2018
Real Estate Assets				$ 6,567,471
Intangibles				319,000
Total	[2]			6,886,471
Revenue	[3]			146,842
Property Operating Income	[3],[5]			$ 62,701
TX | Queenston
Asset Acquisition [Line Items]
Acquisition Date				Nov. 6, 2018
Real Estate Assets				$ 6,929,428
Intangibles				313,000
Total	[2]			7,242,428
Revenue	[3]			115,524
Property Operating Income	[3],[5]			$ 57,498
[1]
[2]
[3]
[4]
[5]

Investments in Unconsolidated_3

Investments in Unconsolidated Real Estate Ventures - Summary of Investments in Unconsolidated Real Estate Ventures (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Equity Method Investments [Line Items]
Percentage of common units of limited partnership interests of Operating Partnership owned	50.00%
Ontario
Schedule Of Equity Method Investments [Line Items]
Carrying Value of Investment	$ 15,116,195	$ 859,531
Oshawa Property | Ontario
Schedule Of Equity Method Investments [Line Items]
Date Real Estate Venture Acquired Land	September 2018
Percentage of common units of limited partnership interests of Operating Partnership owned	50.00%
Carrying Value of Investment	$ 1,793,565	620,214
Expected Completion	First half of 2021
East York Property | Ontario
Schedule Of Equity Method Investments [Line Items]
Date Real Estate Venture Acquired Land	January 2019
Percentage of common units of limited partnership interests of Operating Partnership owned	50.00%
Carrying Value of Investment	$ 7,069,314
Expected Completion	First half of 2020
Brampton Property | Ontario
Schedule Of Equity Method Investments [Line Items]
Date Real Estate Venture Acquired Land	September 2019
Percentage of common units of limited partnership interests of Operating Partnership owned	50.00%
Carrying Value of Investment	$ 3,249,402	2,693
Expected Completion	Second half of 2020
Vaughan Property | Ontario
Schedule Of Equity Method Investments [Line Items]
Date Real Estate Venture Acquired Land	August 2019
Percentage of common units of limited partnership interests of Operating Partnership owned	50.00%
Carrying Value of Investment	$ 2,902,858	$ 236,624
Expected Completion	Second half of 2020
Scarborough Property | Ontario
Schedule Of Equity Method Investments [Line Items]
Date Real Estate Venture Acquired Land	Expected in first half of 2020
Percentage of common units of limited partnership interests of Operating Partnership owned	50.00%
Carrying Value of Investment	$ 74,847
Expected Completion	Second half of 2021
Kingspoint Property | Ontario
Schedule Of Equity Method Investments [Line Items]
Date Real Estate Venture Acquired Land	Expected in second half of 2020
Percentage of common units of limited partnership interests of Operating Partnership owned	50.00%
Carrying Value of Investment	$ 26,209
Expected Completion	First half of 2022

Investments in Unconsolidated_4

Investments in Unconsolidated Real Estate Ventures - Additional Information (Detail) - SmartCentres	1 Months Ended
	Jan. 31, 2019CAD ($)ContributionAgreementTractsofLand	Dec. 31, 2019TractsofLand
Schedule Of Equity Method Investments [Line Items]
Number of contribution agreements entered by subsidiary of sponsor | ContributionAgreement	2
Number of tracts of land | TractsofLand	2	2
Ontario II Lots
Schedule Of Equity Method Investments [Line Items]
Percentage owned by general partner in the Limited Partnership	50.00%
Scarborough Land
Schedule Of Equity Method Investments [Line Items]
Value of land to be contributed to limited partnership at fair market value	$ 1,800,000
Percentage of units to be subscribed at closing in limited partnership	50.00%
Subscription price of units in limited partnership	$ 900,000
Subscription price as percentage of agreed upon fair market value of land to be contributed to the limited partnership	50.00%
Earnest money may be forfeited upon failure of acquisition	$ 300,000
Kingspoint Land
Schedule Of Equity Method Investments [Line Items]
Value of land to be contributed to limited partnership at fair market value	$ 3,300,000
Percentage of units to be subscribed at closing in limited partnership	50.00%
Subscription price of units in limited partnership	$ 1,700,000
Subscription price as percentage of agreed upon fair market value of land to be contributed to the limited partnership	50.00%
Earnest money may be forfeited upon failure of acquisition	$ 300,000

Secured Debt - Summary of Debt

Secured Debt - Summary of Debt (Detail) - USD ($)	Dec. 31, 2019	Jun. 27, 2019	Dec. 31, 2018	Oct. 10, 2018	Jul. 31, 2018
Line Of Credit Facility [Line Items]
Total Secured Debt	$ 109,105,977		$ 63,777,861
Debt issuance costs, net	(1,390,126)
Maturity Date				Sep. 1, 2031
Revolving KeyBank Credit Facility
Line Of Credit Facility [Line Items]
Total Secured Debt	$ 107,000,000
Interest Rate	3.30%
Maturity Date	Jun. 27, 2022
KeyBank Credit Facility
Line Of Credit Facility [Line Items]
Total Secured Debt			62,000,000
Interest Rate		4.90%
Maturity Date					Jun. 27, 2019
Katy Loan
Line Of Credit Facility [Line Items]
Total Secured Debt	$ 2,182,207		2,303,182
Interest Rate	6.40%
Maturity Date	Sep. 1, 2031
Secured Debt
Line Of Credit Facility [Line Items]
Total Secured Debt	$ 2,182,207		2,303,183
Debt issuance costs, net	$ (76,230)		$ (525,321)

Secured Debt - Additional Infor

Secured Debt - Additional Information (Details)	Jan. 31, 2020USD ($)PropertySpecialEntity	Nov. 05, 2019USD ($)Property	Aug. 09, 2019USD ($)	Jun. 27, 2019USD ($)	Jan. 08, 2019USD ($)	Jul. 31, 2018USD ($)SpecialEntity	Oct. 30, 2018USD ($)Property	Dec. 31, 2019MortgagedProperty	Oct. 31, 2018USD ($)	Oct. 10, 2018USD ($)
Line Of Credit Facility [Line Items]
Weighted average interest rate								3.35%
Number of self storage facilities | Property							7
Term loan maturity date										Sep. 1, 2031
CMBS Loan | Subsequent Event
Line Of Credit Facility [Line Items]
Number of Special Purpose Entities | SpecialEntity	7
Number of collateral properties added | Property	7
Mortgage loan, amount	$ 40,500,000
Proceeds from CMBS	$ 40,000,000
Revolving loan maturing date	Feb. 1, 2030
KeyBank Credit Facility
Line Of Credit Facility [Line Items]
Number of Special Purpose Entities | SpecialEntity						6
Line of credit facility, maximum borrowing capacity					$ 68,000,000	$ 70,000,000			$ 62,000,000
Line of credit facility, amount borrowed							$ 62,000,000
Term loan maturity date						Jun. 27, 2019
Extension fee payable, as percentage of then outstanding term loan amount				25.00%
Applicable interest rate				4.90%
Term loan fully paid date						Jun. 27, 2019
KeyBank Credit Facility | Revolving Credit Facility
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 135,000,000	$ 100,000,000	$ 55,000,000
Line of credit additional borrowing capacity		35,000,000	$ 45,000,000
Line of credit facility, amount drawn for repay outstanding credit		$ 65,000,000		43,000,000
Line of credit, anticipate maximum borrowing capacity				300,000,000
Line of credit, anticipated minimum increments				$ 20,000,000
Number of collateral properties added | Property		3
Revolving loan initial term				3 years
Revolving loan maturing date				Jun. 27, 2022
Revolving loan extension option description								two one-year extension options
Credit agreement description								The Revolving KeyBank Credit Facility is a revolving loan with an initial term of three years, maturing on June 27, 2022, with two one-year extension options subject to certain conditions outlined further in the Revolving KeyBank Credit Facility. Monthly payments due pursuant to the Revolving KeyBank Credit Facility are interest-only and the principal balance is due at maturity. The Revolving KeyBank Credit Facility bears interest based on the type of borrowing. The ABR Loans bear interest at the lesser of (x) the Alternate Base Rate (as defined in the Revolving KeyBank Credit Facility) plus the Applicable Rate, or (y) the Maximum Rate (as defined in the Revolving KeyBank Credit Facility). The Eurodollar Loans bear interest at the lesser of (a) the Adjusted LIBO Rate (as defined in the Revolving KeyBank Credit Facility) for the Interest Period in effect plus the Applicable Rate, or (b) the Maximum Rate (as defined in the Revolving KeyBank Credit Facility). The Applicable Rate means the percentage rate corresponding to our total leverage, which are as follows for Eurodollar Loans: (1) 225 basis points with a total leverage ratio greater than or equal to 55%; (2) 200 basis points with a total leverage ratio greater than or equal to 45% but less than 55%; (3) 175 basis points with a total leverage ratio greater than or equal to 35% but less than 45%; and (4) 150 basis points with a total leverage ratio less than 35%. As of December 31, 2019, the total interest rate was approximately 3.3% which was based on LIBOR plus 150 basis points. Our Operating Partnership purchased interest rate caps with a notional amount of $105 million, such that in no event will LIBOR exceed 3.00% thereon through July 1, 2021.
Number of mortgaged properties | MortgagedProperty								18
KeyBank Credit Facility | Revolving Credit Facility | Applicable Rate Condition One | Eurodollar Loans
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate				2.25%
Debt service leverage ratio				55.00%
KeyBank Credit Facility | Revolving Credit Facility | Applicable Rate Condition Two | Eurodollar Loans
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate				2.00%
KeyBank Credit Facility | Revolving Credit Facility | Applicable Rate Condition Three | Eurodollar Loans
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate				1.75%
KeyBank Credit Facility | Revolving Credit Facility | Applicable Rate Condition Four | Eurodollar Loans
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate				1.50%
KeyBank Credit Facility | Revolving Credit Facility | LIBO Rate
Line Of Credit Facility [Line Items]
Applicable interest rate				3.30%
Debt instrument, basis spread on variable rate				1.50%
Interest rate cap notional amount				$ 105,000,000
KeyBank Credit Facility | Revolving Credit Facility | Maximum | Applicable Rate Condition Two | Eurodollar Loans
Line Of Credit Facility [Line Items]
Debt service leverage ratio				45.00%
KeyBank Credit Facility | Revolving Credit Facility | Maximum | Applicable Rate Condition Three | Eurodollar Loans
Line Of Credit Facility [Line Items]
Debt service leverage ratio				35.00%
KeyBank Credit Facility | Revolving Credit Facility | Maximum | Applicable Rate Condition Four | Eurodollar Loans
Line Of Credit Facility [Line Items]
Debt service leverage ratio				35.00%
KeyBank Credit Facility | Revolving Credit Facility | Maximum | LIBO Rate
Line Of Credit Facility [Line Items]
Debt instrument interest rate limit				3.00%
KeyBank Credit Facility | Revolving Credit Facility | Minimum | Applicable Rate Condition Two | Eurodollar Loans
Line Of Credit Facility [Line Items]
Debt service leverage ratio				55.00%
KeyBank Credit Facility | Revolving Credit Facility | Minimum | Applicable Rate Condition Three | Eurodollar Loans
Line Of Credit Facility [Line Items]
Debt service leverage ratio				45.00%
KeyBank Credit Facility | Revolving Credit Facility | Subsequent Event
Line Of Credit Facility [Line Items]
Line of credit facility, outstanding	$ 73,000,000
KeyBank Credit Facility | Plant City
Line Of Credit Facility [Line Items]
Line of credit additional borrowing capacity					$ 6,000,000
Katy Property
Line Of Credit Facility [Line Items]
Applicable interest rate										6.40%
Loan assumed to hold Katy Property										$ 2,300,000

Secured Debt - Schedule of Secu

Secured Debt - Schedule of Secured Debt Future Principal Payments (Details) - USD ($)		Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt issuance costs, net		$ (1,390,126)
Total		109,105,977	$ 63,777,861
Secured Debt
Debt Instrument [Line Items]
2020		128,922
2021		137,392
2022	[1]	107,146,419
2023		156,038
2024		166,290
2025 and thereafter		1,447,146
Total payments		109,182,207
Debt issuance costs, net		(76,230)	(525,321)
Total		$ 2,182,207	$ 2,303,183
[1]	On January 31, 2020, we entered into a 10 year, interest only $40.5 million CMBS Loan. We used the proceeds of the CMBS Loan to pay down $40 million on the Revolving KeyBank Credit Facility. For more information please see Note 11.

Secured Debt - Schedule of Se_2

Secured Debt - Schedule of Secured Debt Future Principal Payments (Parenthetical) (Details) - Subsequent Event $ in Millions	Jan. 31, 2020USD ($)
Debt Instrument [Line Items]
CMBS loan term	10 years
CMBS Loan
Debt Instrument [Line Items]
Mortgage loan, amount	$ 40.5
Proceeds from CMBS	$ 40

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	Mar. 27, 2018	Dec. 31, 2019USD ($)Employee	Dec. 31, 2018USD ($)
Related Party Transaction [Line Items]
Maximum period for reimbursement of offering cost		60 days
Maximum offering cost rate		3.50%
Number of employees | Employee		0
Tenant Programs
Related Party Transaction [Line Items]
Threshold percentage to purchase triggering member ownership interest in joint venture at fair market value	95.00%
Tenant Programs | TRS subsidiary
Related Party Transaction [Line Items]
Percentage of ownership interest in joint venture	0.10%
Percentage of net revenue generated from tenant insurance to be received under terms of joint venture agreement	0.10%
Private Offering Dealer Manager Agreement
Related Party Transaction [Line Items]
Underwriting compensation		10.00%
Maximum percentage other non-accountable expenses		3.00%
Class W Common Stock
Related Party Transaction [Line Items]
Percentage of offering cost without reimbursement		1.15%
Class W Common Stock | Dealer Manager Servicing Fees
Related Party Transaction [Line Items]
Monthly stockholder servicing fee accrual description		accrues daily in an amount equal to 1/365th of 0.5% of the purchase price per share
Monthly serving fee payable and accrues daily percentage		0.50%
Class W Common Stock | Private Offering Dealer Manager Agreement
Related Party Transaction [Line Items]
Percentage of gross proceeds from sale of shares		10.00%
Maximum dealer manager servicing fee percentage of proceeds from Primary Offering		9.00%
Class A Common Stock | Dealer Manager
Related Party Transaction [Line Items]
Maximum sale commission fees percentage of proceed from Primary Offering		6.00%
Maximum dealer manager commission fee percentage of proceeds from Primary Offering		3.00%
Class A Common Stock | Private Offering Dealer Manager Agreement
Related Party Transaction [Line Items]
Percentage of gross proceeds from sale of shares		10.00%
Class T Common Stock | Dealer Manager
Related Party Transaction [Line Items]
Maximum sale commission fees percentage of proceed from Primary Offering		3.00%
Maximum dealer manager commission fee percentage of proceeds from Primary Offering		3.00%
Class T Common Stock | Stockholder Servicing Fees
Related Party Transaction [Line Items]
Monthly stockholder servicing fee accrual description		accrues daily in an amount equal to 1/365th of 1% of the purchase price per share
Monthly serving fee payable and accrues daily percentage		1.00%
Class T Common Stock | Private Offering Dealer Manager Agreement
Related Party Transaction [Line Items]
Percentage of gross proceeds from sale of shares		10.00%
Advisory Agreement
Related Party Transaction [Line Items]
Maximum period for reimbursement of offering cost		60 days
Maximum offering cost rate		3.50%
Gross proceeds from Public Offering, threshold percentage of expenses for reimbursement		15.00%
Monthly asset management fee		0.0833%
Monthly asset management fee one twelfth of less than one percentage of asset value payable		one-twelfth of 1%
Operating expenses reimbursement percentage of average investment in assets		2.00%
Operating expenses reimbursement percentage of net income		25.00%
Operating expenses exceed limitation		12 months
Maximum days for disclosure fact		60 days
Operating expenses that exceeded the greater of 2% of our average invested assets or 25% of our net income			$ 210,000
Percentage of non-voting equity interest		15.00%
Advisory Agreement | Class W Common Stock
Related Party Transaction [Line Items]
Percentage of offering cost without reimbursement		1.15%
Amended Property Management Agreement
Related Party Transaction [Line Items]
Percentage of fee of Property Manager		6.00%
Property management agreement termination description		The property management agreement has a three year term and automatically renews for successive three year periods thereafter, unless we or our Property Manager provide prior written notice at least 90 days prior to the expiration of the term. After the end of the initial three year term, either party may terminate a property management agreement generally upon 60 days prior written notice. With respect to each new property we acquire for which we enter into a property management agreement with our Property Manager we will also pay our Property Manager a one-time start-up fee in the amount of $3,750.
Term of property management agreement		3 years
Renewal term of property management agreement		3 years
Notice period for property management agreement by property manager		60 days
Period of prior written notice for termination of property management agreement		90 days
Percentage of construction management fee		5.00%
Construction management fees for excess of capital improvement work		$ 10,000
Property manager one-time start-up fees		3,750
Amended Property Management Agreement | Minimum
Related Party Transaction [Line Items]
Property Manager receives fee for services		$ 3,000
Transfer Agent Agreement
Related Party Transaction [Line Items]
Term of property management agreement		3 years
Renewal term of property management agreement		1 year
Period of prior written notice for termination of property management agreement		90 days
Affiliate of Property Manager | Tenant Programs
Related Party Transaction [Line Items]
Percentage of ownership interest in joint venture	99.90%
Percentage of net revenue generated from tenant insurance to be received under terms of joint venture agreement	99.90%
Tenant insurance revenue		$ 393,000	110,000
Storage Auction Program
Related Party Transaction [Line Items]
Auction fees		$ 10,000	$ 1,200
Ownership Percentage		50.00%

Related Party Transactions - Su

Related Party Transactions - Summary of Related Party Costs (Detail) - USD ($)		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Related party costs, Incurred		$ 14,666,152	$ 9,536,576
Related party costs, Paid		12,646,339	8,403,571
Related party costs, Payable		3,740,446	1,720,633
Operating Expenses (Including Organizational Costs)
Related Party Transaction [Line Items]
Related party costs, Incurred		1,247,017	775,948
Related party costs, Paid		1,200,196	754,396
Related party costs, Payable		73,437	26,616
Asset Management Fees
Related Party Transaction [Line Items]
Related party costs, Incurred		2,027,231	613,637
Related party costs, Paid		1,989,408	615,399
Related party costs, Payable		45,656	7,833
Property Management Fees
Related Party Transaction [Line Items]
Related party costs, Incurred		1,014,881	350,058
Related party costs, Paid		1,014,881	358,818
Transfer Agent Expenses
Related Party Transaction [Line Items]
Related party costs, Incurred		275,899	163,898
Related party costs, Paid		273,542	153,355
Related party costs, Payable		12,900	10,543
Acquisition Expenses
Related Party Transaction [Line Items]
Related party costs, Incurred		652,167	666,416
Related party costs, Paid		652,167	666,416
Capitalized Acquisition Expenses
Related Party Transaction [Line Items]
Related party costs, Incurred		44,740	76,890
Related party costs, Paid		44,740	76,890
Selling Commissions
Related Party Transaction [Line Items]
Related party costs, Incurred		4,702,176	3,884,006
Related party costs, Paid		4,714,469	3,838,693
Related party costs, Payable		33,020	45,313
Dealer Manager Fees
Related Party Transaction [Line Items]
Related party costs, Incurred		1,774,215	1,352,419
Related party costs, Paid		1,772,811	1,351,849
Related party costs, Payable		17,657	16,253
Stockholder Servicing Fees and Dealer Manager Servicing Fees
Related Party Transaction [Line Items]
Related party costs, Incurred	[1]	2,661,417	1,297,283
Related party costs, Paid	[1]	729,179	216,670
Related party costs, Payable	[1]	3,528,011	1,595,773
Offering Costs
Related Party Transaction [Line Items]
Related party costs, Incurred		266,409	356,021
Related party costs, Paid		254,946	371,085
Related party costs, Payable		$ 29,765	$ 18,302
[1]	We pay our Dealer Manager an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365 th th

Related Party Transactions - _2

Related Party Transactions - Summary of Related Party Costs (Parenthetical) (Detail) - Stockholder Servicing Fees and Dealer Manager Servicing Fees	12 Months Ended
	Dec. 31, 2019
Class T Common Stock
Related Party Transaction [Line Items]
Monthly stockholder servicing fee accrual description	1/365th of 1% of the purchase price per share
Monthly serving fee payable and accrues daily percentage	1.00%
Class W Common Stock
Related Party Transaction [Line Items]
Monthly serving fee payable and accrues daily percentage	0.50%
Monthly stockholder servicing fee accrual description	1/365th of 0.5% of the purchase price per share

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Commitments And Contingencies [Line Items]
Amount issued under distribution reinvestment plan	$ 33	$ 1
Distribution Reinvestment Plan
Commitments And Contingencies [Line Items]
Sales commission or dealer manager fee payable	$ 0
Amendment, suspension or termination period for distribution reinvestment plan	10 days
Distribution Reinvestment Plan | Class A Common Stock
Commitments And Contingencies [Line Items]
Issuance of shares for distribution reinvestment plan (in shares)	170,000
Distribution Reinvestment Plan | Class T Common Stock
Commitments And Contingencies [Line Items]
Issuance of shares for distribution reinvestment plan (in shares)	120,000
Distribution Reinvestment Plan | Class W Common Stock
Commitments And Contingencies [Line Items]
Issuance of shares for distribution reinvestment plan (in shares)	26,000
Share Redemption Program
Commitments And Contingencies [Line Items]
Amendment, suspension or termination period of share	30 days
Maximum weighted average number of shares outstanding percentage	5.00%
Share issued	0
Shares issued under distribution reinvestment plan	0
Redemption total	$ 1,400,000	110,000
Amount issued under distribution reinvestment plan	$ 700,000	$ 30,000
Share issued on redemption request	62,000	4,900
Share Redemption Program | Accounts Payable and Accrued Liabilities
Commitments And Contingencies [Line Items]
Amount issued under distribution reinvestment plan current	$ 700,000	$ 80,000
Share Redemption Program | Minimum
Commitments And Contingencies [Line Items]
Shareholders share holding period	1 year
Operating Partnership Redemption Rights
Commitments And Contingencies [Line Items]
Number of shares issuable upon conversion of partnership units	1
Requisite minimum outstanding period for conversion eligibility	1 year

Selected Quarterly Data (Unau_3

Selected Quarterly Data (Unaudited) - Summary of Quarterly Financial Information (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule Of Quarterly Financial Information [Line Items]
Total revenues	$ 4,976,849	$ 4,502,793	$ 4,309,571	$ 3,459,128	$ 3,015,974	$ 1,565,837	$ 824,113	$ 358,104	$ 17,248,341	$ 5,764,028	$ 475,404
Total operating expenses	6,550,524	5,929,491	5,400,052	4,779,831	4,058,474	2,394,010	1,877,012	952,026	22,659,898	9,281,522	1,722,084
Operating loss	(1,573,675)	(1,426,698)	(1,090,481)	(1,320,703)	(1,042,500)	(828,173)	(1,052,899)	(593,922)	(5,411,557)	(3,517,494)	(1,246,680)
Net loss	(2,440,506)	(1,959,538)	(2,752,178)	(2,416,506)	(2,008,943)	(1,185,278)	(956,985)	(568,747)	(9,568,728)	(4,719,953)	(1,246,680)
Net loss attributable to common stockholders	$ (2,438,027)	$ (1,957,502)	$ (2,748,977)	$ (2,412,725)	$ (2,005,066)	$ (1,182,557)	$ (954,195)	$ (566,467)	$ (9,557,231)	$ (4,708,285)	$ (1,230,755)
Class A Common Stock
Schedule Of Quarterly Financial Information [Line Items]
Net loss per share-basic and diluted	$ (0.27)	$ (0.24)	$ (0.37)	$ (0.43)	$ (0.44)	$ (0.31)	$ (0.32)	$ (0.26)	$ (1.26)	$ (1.39)	$ (1.74)
Class T Common Stock
Schedule Of Quarterly Financial Information [Line Items]
Net loss per share-basic and diluted	(0.27)	(0.24)	(0.37)	(0.43)	(0.44)	(0.31)	(0.32)	(0.26)	(1.26)	(1.39)	(1.74)
Class W Common Stock
Schedule Of Quarterly Financial Information [Line Items]
Net loss per share-basic and diluted	$ (0.27)	$ (0.24)	$ (0.37)	$ (0.43)	$ (0.44)	$ (0.31)	$ (0.32)	$ (0.26)	$ (1.26)	$ (1.39)	$ (1.74)

Declaration of Distributions -

Declaration of Distributions - Additional Information (Detail)	Dec. 18, 2019$ / shares
Class A Common Stock
Schedule Of Stockholders Equity [Line Items]
Common stock daily distribution declared	$ 0.00427
Common stock daily distribution declared date	Dec. 18, 2019
Cash distribution record date start	Jan. 1, 2020
Cash distribution record date end	Mar. 31, 2020
Class T Common Stock
Schedule Of Stockholders Equity [Line Items]
Common stock daily distribution declared	$ 0.00427
Common stock daily distribution declared date	Dec. 18, 2019
Cash distribution record date start	Jan. 1, 2020
Cash distribution record date end	Mar. 31, 2020
Class T Common Stock | Stockholder Servicing Fee
Schedule Of Stockholders Equity [Line Items]
Class T shares, net of stockholder servicing fee	$ 0.00361
Class W Common Stock
Schedule Of Stockholders Equity [Line Items]
Common stock daily distribution declared	$ 0.00427
Common stock daily distribution declared date	Dec. 18, 2019
Cash distribution record date start	Jan. 1, 2020
Cash distribution record date end	Mar. 31, 2020
Class W Common Stock | Dealer Manager Servicing Fee
Schedule Of Stockholders Equity [Line Items]
Class W shares, net of dealer manager servicing fee	$ 0.00396

Potential Acquisitions - Additi

Potential Acquisitions - Additional Information (Detail) - USD ($)	Aug. 07, 2019	Jan. 04, 2018	Dec. 31, 2019
CA | San Gabriel Property
Business Acquisition [Line Items]
Purchase and sale agreement execution date			Jan. 4, 2018
Purchase price for potential business acquisition		$ 13,500,000
Potential business acquisition description			We expect to fund such acquisition with net proceeds from our Public Offering and/or debt financing. If we fail to acquire the San Gabriel Property, in addition to the incurred acquisition costs, we may also forfeit approximately $200,000 in earnest money as a result.
Earnest money may be forfeited upon failure of acquisition		$ 200,000
NJ | Piscataway Property
Business Acquisition [Line Items]
Purchase and sale agreement execution date			Aug. 7, 2019
Purchase price for potential business acquisition	$ 8,500,000
Potential business acquisition description			We expect the acquisition of the Piscataway Property to close in the second quarter of 2020. We expect to fund such acquisition with net proceeds from our Public Offering and/or our revolving credit facility. If we fail to acquire the Piscataway Property, we may also forfeit approximately $100,000 in earnest money as a result.
Earnest money may be forfeited upon failure of acquisition	$ 100,000

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail)	Mar. 17, 2020USD ($)	Mar. 06, 2020USD ($)shares	Jan. 31, 2020USD ($)PropertySpecialEntity	Jan. 29, 2020USD ($)	Jan. 17, 2020USD ($)	Nov. 05, 2019USD ($)Property	Jun. 27, 2019USD ($)	Jul. 31, 2018SpecialEntity	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Subsequent Event [Line Items]
Repayments of debt									$ 68,000,000
Additional gross proceeds from issuance of common stock									$ 103,199,471	$ 74,542,378	$ 42,215,956
KeyBank Credit Facility
Subsequent Event [Line Items]
Number of Special Purpose Entities | SpecialEntity								6
Applicable interest rate							4.90%
Revolving Credit Facility | KeyBank Credit Facility
Subsequent Event [Line Items]
Line of credit facility, amount drawn						$ 65,000,000	$ 43,000,000
Number of collateral properties added | Property						3
Maturity date of loan							Jun. 27, 2022
Revolving Credit Facility | KeyBank Credit Facility | LIBO Rate
Subsequent Event [Line Items]
Applicable interest rate							3.30%
Debt instrument, basis spread on variable rate							1.50%
Subsequent Event | Class A Common Stock
Subsequent Event [Line Items]
Common stock issued in connection with offering | shares		5,157,000
Additional gross proceeds from issuance of common stock		$ 127,400,000
Subsequent Event | Class T Common Stock
Subsequent Event [Line Items]
Common stock issued in connection with offering | shares		3,829,000
Additional gross proceeds from issuance of common stock		$ 92,400,000
Subsequent Event | Class W Common Stock
Subsequent Event [Line Items]
Common stock issued in connection with offering | shares		1,072,000
Additional gross proceeds from issuance of common stock		$ 24,400,000
Subsequent Event | KeyBank CMBS Loan
Subsequent Event [Line Items]
Applicable interest rate			3.56%
Minimum Number of Years to Defease the Loan			2 years
Subsequent Event | CMBS Loan
Subsequent Event [Line Items]
Number of Special Purpose Entities | SpecialEntity			7
Mortgage loan, amount			$ 40,500,000
Proceeds from CMBS			$ 40,000,000
Number of collateral properties added | Property			7
Maturity date of loan			Feb. 1, 2030
Subsequent Event | Revolving Credit Facility | KeyBank Credit Facility
Subsequent Event [Line Items]
Line of credit facility, outstanding			$ 73,000,000
Escondido Property | Subsequent Event | KeyBank Bridge Loan
Subsequent Event [Line Items]
Maturity date of loan			Jul. 15, 2020
Debt instrument carrying amount			$ 12,000,000
Loan proceeds			$ 7,000,000
Repayments of debt				$ 3,000,000
Escondido Property | Subsequent Event | KeyBank Bridge Loan | LIBO Rate
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate			2.75%
Escondido Property | CA
Subsequent Event [Line Items]
Purchase and sale agreement execution date									Apr. 16, 2018
Escondido Property | CA | Subsequent Event
Subsequent Event [Line Items]
Purchase price for potential business acquisition					$ 18,000,000
Preferred equity investment					$ 2,500,000
Preferred rate of return					8.00%
Additional rate of return on investment					4.00%
Escondido Property | CA | Subsequent Event | KeyBank Bridge Loan
Subsequent Event [Line Items]
Line of credit facility, amount drawn					$ 7,000,000
Escondido Property | CA | Subsequent Event | Revolving Credit Facility | KeyBank Credit Facility
Subsequent Event [Line Items]
Line of credit facility, amount drawn					$ 9,000,000
Punta Gorda Property | FL
Subsequent Event [Line Items]
Purchase and sale agreement execution date									Mar. 17, 2020
Potential business acquisition description									We expect the acquisition of the Punta Gorda Property to close in the second quarter of 2020. We expect to fund such acquisition with net proceeds from our Public Offering and/or debt financing. If we fail to acquire the Punta Gorda Property, we may also forfeit approximately $175,000 in earnest money as a result.
Punta Gorda Property | FL | Subsequent Event
Subsequent Event [Line Items]
Purchase price for potential business acquisition	$ 17,500,000
Earnest money may be forfeited upon failure of acquisition	$ 175,000

Schedule III (Detail)

Schedule III (Detail) - USD ($)		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 109,182,207
Initial Cost to Company, Land		53,834,093
Initial Cost to Company, Buildings and Improvements		206,020,232
Initial Cost to Company, Total		259,854,325
Cost Capitalized Subsequent to Acquisition		1,527,963
Gross Carrying Amount, Land		53,834,093
Gross Carrying Amount, Buildings and Improvements		207,548,195
Gross Carrying Amount, Total	[1]	261,382,288
Accumulated Depreciation		(6,742,793)	$ (1,769,436)	$ (138,219)
Jensen Beach | FL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		2,447,349
Initial Cost to Company, Land		902,914
Initial Cost to Company, Buildings and Improvements		3,813,828
Initial Cost to Company, Total		4,716,742
Cost Capitalized Subsequent to Acquisition		134,292
Gross Carrying Amount, Land		902,914
Gross Carrying Amount, Buildings and Improvements		3,948,120
Gross Carrying Amount, Total	[1]	4,851,034
Accumulated Depreciation		$ (414,164)
Date of Construction		1979
Date Acquired		Apr. 11, 2017
Texas City | TX
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 3,935,535
Initial Cost to Company, Land		811,062
Initial Cost to Company, Buildings and Improvements		6,783,936
Initial Cost to Company, Total		7,594,998
Cost Capitalized Subsequent to Acquisition		188,123
Gross Carrying Amount, Land		811,062
Gross Carrying Amount, Buildings and Improvements		6,972,059
Gross Carrying Amount, Total	[1]	7,783,121
Accumulated Depreciation		$ (526,747)
Date of Construction		2010
Date Acquired		Nov. 17, 2017
Riverside | CA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 3,386,735
Initial Cost to Company, Land		1,110,557
Initial Cost to Company, Buildings and Improvements		5,472,815
Initial Cost to Company, Total		6,583,372
Cost Capitalized Subsequent to Acquisition		159,851
Gross Carrying Amount, Land		1,110,557
Gross Carrying Amount, Buildings and Improvements		5,632,666
Gross Carrying Amount, Total	[1]	6,743,223
Accumulated Depreciation		$ (324,429)
Date of Construction		1984
Date Acquired		Mar. 27, 2018
Las Vegas I | NV
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 4,523,887
Initial Cost to Company, Land		2,218,730
Initial Cost to Company, Buildings and Improvements		6,622,998
Initial Cost to Company, Total		8,841,728
Cost Capitalized Subsequent to Acquisition		69,985
Gross Carrying Amount, Land		2,218,730
Gross Carrying Amount, Buildings and Improvements		6,692,983
Gross Carrying Amount, Total	[1]	8,911,713
Accumulated Depreciation		$ (364,584)
Date of Construction		1996
Date Acquired		Apr. 5, 2018
Puyallup | WA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 6,724,029
Initial Cost to Company, Land		3,370,390
Initial Cost to Company, Buildings and Improvements		9,588,463
Initial Cost to Company, Total		12,958,853
Cost Capitalized Subsequent to Acquisition		88,567
Gross Carrying Amount, Land		3,370,390
Gross Carrying Amount, Buildings and Improvements		9,677,030
Gross Carrying Amount, Total	[1]	13,047,420
Accumulated Depreciation		$ (561,924)
Date of Construction		1990
Date Acquired		May 22, 2018
Las Vegas II | NV
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 6,328,498
Initial Cost to Company, Land		2,150,182
Initial Cost to Company, Buildings and Improvements		10,203,441
Initial Cost to Company, Total		12,353,623
Cost Capitalized Subsequent to Acquisition		94,956
Gross Carrying Amount, Land		2,150,182
Gross Carrying Amount, Buildings and Improvements		10,298,397
Gross Carrying Amount, Total	[1]	12,448,579
Accumulated Depreciation		$ (486,083)
Date of Construction		2006
Date Acquired		Jul. 18, 2018
Naples | FL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 13,215,685
Initial Cost to Company, Land		6,977,488
Initial Cost to Company, Buildings and Improvements		19,343,811
Initial Cost to Company, Total		26,321,299
Cost Capitalized Subsequent to Acquisition		49,789
Gross Carrying Amount, Land		6,977,488
Gross Carrying Amount, Buildings and Improvements		19,393,600
Gross Carrying Amount, Total	[1]	26,371,088
Accumulated Depreciation		$ (828,708)
Date of Construction		2001
Date Acquired		Aug. 1, 2018
Woodlands I | TX
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 4,425,005
Initial Cost to Company, Land		932,000
Initial Cost to Company, Buildings and Improvements		8,791,302
Initial Cost to Company, Total		9,723,302
Cost Capitalized Subsequent to Acquisition		106,227
Gross Carrying Amount, Land		932,000
Gross Carrying Amount, Buildings and Improvements		8,897,529
Gross Carrying Amount, Total	[1]	9,829,529
Accumulated Depreciation		$ (342,984)
Date of Construction		2002
Date Acquired		Oct. 10, 2018
Katy | TX
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 2,182,207
Initial Cost to Company, Land		945,000
Initial Cost to Company, Buildings and Improvements		8,087,652
Initial Cost to Company, Total		9,032,652
Cost Capitalized Subsequent to Acquisition		82,807
Gross Carrying Amount, Land		945,000
Gross Carrying Amount, Buildings and Improvements		8,170,459
Gross Carrying Amount, Total	[1]	9,115,459
Accumulated Depreciation		$ (311,438)
Date of Construction		2003
Date Acquired		Oct. 10, 2018
Humble | TX
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 3,664,572
Initial Cost to Company, Land		1,129,000
Initial Cost to Company, Buildings and Improvements		6,717,806
Initial Cost to Company, Total		7,846,806
Cost Capitalized Subsequent to Acquisition		66,584
Gross Carrying Amount, Land		1,129,000
Gross Carrying Amount, Buildings and Improvements		6,784,390
Gross Carrying Amount, Total	[1]	7,913,390
Accumulated Depreciation		$ (311,907)
Date of Construction		2004
Date Acquired		Oct. 10, 2018
Woodlands II | TX
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 4,677,156
Initial Cost to Company, Land		2,075,000
Initial Cost to Company, Buildings and Improvements		6,961,618
Initial Cost to Company, Total		9,036,618
Cost Capitalized Subsequent to Acquisition		127,730
Gross Carrying Amount, Land		2,075,000
Gross Carrying Amount, Buildings and Improvements		7,089,348
Gross Carrying Amount, Total	[1]	9,164,348
Accumulated Depreciation		$ (303,244)
Date of Construction		2007
Date Acquired		Oct. 10, 2018
College Station | TX
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 3,626,971
Initial Cost to Company, Land		1,065,000
Initial Cost to Company, Buildings and Improvements		5,943,870
Initial Cost to Company, Total		7,008,870
Cost Capitalized Subsequent to Acquisition		36,967
Gross Carrying Amount, Land		1,065,000
Gross Carrying Amount, Buildings and Improvements		5,980,837
Gross Carrying Amount, Total	[1]	7,045,837
Accumulated Depreciation		$ (262,260)
Date of Construction		2004
Date Acquired		Oct. 10, 2018
Cypress | TX
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 3,090,087
Initial Cost to Company, Land		1,484,000
Initial Cost to Company, Buildings and Improvements		5,083,471
Initial Cost to Company, Total		6,567,471
Cost Capitalized Subsequent to Acquisition		82,648
Gross Carrying Amount, Land		1,484,000
Gross Carrying Amount, Buildings and Improvements		5,166,119
Gross Carrying Amount, Total	[1]	6,650,119
Accumulated Depreciation		$ (220,919)
Date of Construction		2002
Date Acquired		Oct. 10, 2018
Queenston | TX
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 3,149,417
Initial Cost to Company, Land		1,314,500
Initial Cost to Company, Buildings and Improvements		5,614,928
Initial Cost to Company, Total		6,929,428
Cost Capitalized Subsequent to Acquisition		53,867
Gross Carrying Amount, Land		1,314,500
Gross Carrying Amount, Buildings and Improvements		5,668,795
Gross Carrying Amount, Total	[1]	6,983,295
Accumulated Depreciation		$ (214,083)
Date of Construction		2007
Date Acquired		Nov. 6, 2018
Plant City | FL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 7,169,002
Initial Cost to Company, Land		1,168,000
Initial Cost to Company, Buildings and Improvements		12,520,543
Initial Cost to Company, Total		13,688,543
Cost Capitalized Subsequent to Acquisition		70,889
Gross Carrying Amount, Land		1,168,000
Gross Carrying Amount, Buildings and Improvements		12,591,432
Gross Carrying Amount, Total	[1]	13,759,432
Accumulated Depreciation		$ (515,665)
Date of Construction		2004
Date Acquired		Jan. 8, 2019
Newark | NJ
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 14,832,418
Initial Cost to Company, Land		12,815,000
Initial Cost to Company, Buildings and Improvements		15,801,948
Initial Cost to Company, Total		28,616,948
Cost Capitalized Subsequent to Acquisition		5,250
Gross Carrying Amount, Land		12,815,000
Gross Carrying Amount, Buildings and Improvements		15,807,198
Gross Carrying Amount, Total	[1]	28,622,198
Accumulated Depreciation		$ (379,556)
Date of Construction		1931
Date Acquired		Mar. 26, 2019
Redmond | WA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 5,685,760
Initial Cost to Company, Land		4,506,000
Initial Cost to Company, Buildings and Improvements		6,584,690
Initial Cost to Company, Total		11,090,690
Cost Capitalized Subsequent to Acquisition		30,123
Gross Carrying Amount, Land		4,506,000
Gross Carrying Amount, Buildings and Improvements		6,614,813
Gross Carrying Amount, Total	[1]	11,120,813
Accumulated Depreciation		$ (100,645)
Date of Construction		1997
Date Acquired		Jul. 23, 2019
Ocoee | FL
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 1,171,000
Initial Cost to Company, Buildings and Improvements		12,055,585
Initial Cost to Company, Total		13,226,585
Cost Capitalized Subsequent to Acquisition		1,847
Gross Carrying Amount, Land		1,171,000
Gross Carrying Amount, Buildings and Improvements		12,057,432
Gross Carrying Amount, Total	[1]	13,228,432
Accumulated Depreciation		$ (56,295)
Date of Construction		2019
Date Acquired		Nov. 5, 2019
Ardrey Kell | NC
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 2,354,000
Initial Cost to Company, Buildings and Improvements		15,605,795
Initial Cost to Company, Total		17,959,795
Cost Capitalized Subsequent to Acquisition		3,999
Gross Carrying Amount, Land		2,354,000
Gross Carrying Amount, Buildings and Improvements		15,609,794
Gross Carrying Amount, Total	[1]	17,963,794
Accumulated Depreciation		$ (73,169)
Date of Construction		2018
Date Acquired		Nov. 5, 2019
University City | NC
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 5,883,526
Initial Cost to Company, Land		2,134,000
Initial Cost to Company, Buildings and Improvements		9,354,821
Initial Cost to Company, Total		11,488,821
Cost Capitalized Subsequent to Acquisition		3,993
Gross Carrying Amount, Land		2,134,000
Gross Carrying Amount, Buildings and Improvements		9,358,814
Gross Carrying Amount, Total	[1]	11,492,814
Accumulated Depreciation		$ (45,267)
Date of Construction		2017
Date Acquired		Nov. 5, 2019
Charlottesville | VA
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Encumbrances		$ 10,234,368
Initial Cost to Company, Land		1,806,270
Initial Cost to Company, Buildings and Improvements		18,379,250
Initial Cost to Company, Total		20,185,520
Cost Capitalized Subsequent to Acquisition		3,448
Gross Carrying Amount, Land		1,806,270
Gross Carrying Amount, Buildings and Improvements		18,382,698
Gross Carrying Amount, Total	[1]	20,188,968
Accumulated Depreciation		$ (84,539)
Date of Construction		2017
Date Acquired		Nov. 5, 2019
Surprise | AZ
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 1,394,000
Initial Cost to Company, Buildings and Improvements		6,687,661
Initial Cost to Company, Total		8,081,661
Cost Capitalized Subsequent to Acquisition		66,021
Gross Carrying Amount, Land		1,394,000
Gross Carrying Amount, Buildings and Improvements		6,753,682
Gross Carrying Amount, Total	[1]	8,147,682
Accumulated Depreciation		$ (14,183)
Date of Construction		2019
Date Acquired		Dec. 12, 2019
[1]	The aggregate cost of real estate for United States federal income tax purposes is $284,727,246.

Schedule III (Parenthetical) (D

Schedule III (Parenthetical) (Detail)	Dec. 31, 2019USD ($)
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Aggregate cost of real estate for United States federal income tax purposes	$ 284,727,246

Schedule III - Activity in Real

Schedule III - Activity in Real Estate Facilities (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Real estate facilities
Real estate facilities, beginning balance	$ 135,980,078	$ 12,339,539
Facility acquisitions	124,338,543	123,204,022
Improvements	1,063,667	436,517
Real estate facilities, ending balance	261,382,288	135,980,078
Accumulated depreciation
Balance at beginning of year	(1,769,436)
Depreciation expense	(4,973,357)	(1,631,217)
Balance at end of year	(6,742,793)	(1,769,436)
Real estate investment property, net	$ 254,639,495	$ 134,210,642