18 Jun 2024
Are you looking for a way to break into the self-storage industry to develop one of the best-in-class commercial real assets out there? You are going to need an expert team that has your best interest on your side to guide you and you are going to need a road map.
At Storage Authority Franchise, we understand the importance of finding the perfect land for your venture. For the goal of building 80,000 gross square feet here are six essential qualifiers to ensure you're making a smart investment:
For Sale Property: The first step in your journey is finding a property that's on the market. Whether through listings online or direct contact with sellers offline, make sure the land is available for purchase or the seller is open for an offer.
Zoned for Self-Storage: Not all properties are suitable for self-storage development. Ensure that the land is appropriately zoned for this purpose to avoid potential legal hurdles with zone changes or special exceptions.
Adequate Size: Size matters when it comes to self-storage. Look for parcels of land with at least 5 usable acres or more to accommodate your facility's layout and future expansion plans.
Affordable Asking Price: Capitalizing on a great deal is key to maximizing your return on investment. Aim for properties with an asking price under $1.5 million to keep your initial costs manageable.
Competitive Area Pricing: Analyze the local market to gauge the demand for self-storage units. Ensure that the competition's prices for a standard 10 x 10 non-climate-controlled unit are $130 or higher, indicating a favorable market for your business.
Prime Location: Location can make or break a self-storage facility. Look for land situated on a main road with high visibility and easy accessibility, ensuring maximum exposure to potential customers.
By diligently checking these six qualifiers, you'll be well-positioned to embark on a successful self-storage venture with the Storage Authority Franchise team on your side. Our expertise and support will guide you every step of the way, from land acquisition to grand opening and beyond.
If you want a deeper dive into these land qualifiers be sure to check out 100 - 3 - 1 the secret to finding land for your next self-storage!
Storage Authority Franchising is all about owning your own local self-storage business, supported by professional systems and expertise. We like to say, "You're in business for yourself but not by yourself." If self-storage is on your mind, don't hesitate to reach out to me, Garrett Byrd at Direct: 941-928-1354 or Garrett@StorageAuthority.com to learn more about the Storage Authority Franchise opportunity.
