Self Storage Feasibility Study | Box Pro Consulting

Self storage units and doors. Self Storage feasibility studies

IF YOU BUILD IT, WILL THEY COME?

A Box Pro self storage feasibility study is more than a thumbs-up or thumbs-down—it is a strategic plan that helps make the most of your investment.

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What We Do

As self storage consultants, we can address just about any specific question you have on your potential project. Common studies/services include:

Self Storage Feasibility Studies: This is the most exhaustive study offered, covering everything from market conditions, site factors, financial projections, and more (see below).

RV/Boat Storage Feasibility Studies: We will determine market demand for RV/Boat Storage in your market and make recommendations for sizing, amenities, and more.

Self Storage Unit Mix Recommendation: We'll analyze market factors, demographics, and competitors to make a market-driven unit mix recommendation optimized for your site.

Self Storage Market Identification: If you don't have a site picked out, we can help identify markets or pockets within markets that are most ripe for new self storage development.

Self Storage Demand Studies: By analyzing existing and incoming self storage projects and demographic trends, we can assess what the self storage demand is in a given market and determine whether the market is over or undersupplied.

Self Storage Competitor Analysis: We can analyze competitors in the market and assess rates, specials, amenities, and other facility features to help structure your self storage development plan.

And more: Have a specific or unique issue you need help with? Let's chat.

What is a feasibility study?

The purpose of a self storage feasibility study is to determine whether your proposed self storage development will be financially successful or not, and make recommendations for increasing the likelihood of success. The feasibility study takes into account site factors, market conditions, industry trends, and much more. The following questions will be addressed:

Is my primary market over or undersupplied?
Is there enough demand to support my project?
What is the ideal unit mix for my property/market?
Should I build climate-controlled units?
What lease-up period should I expect?
What are the market rates for my property?
What will my operating expenses be?
What are typical construction costs for my project?
What return of investment (ROI) should I expect?

Why do I need a feasibility study?

There are a number of reasons why someone may seek a self storage feasibility study.

I need project support for financing purposes.
I want to see if it's worth expanding an existing facility.
I am pursuing my first self storage project and need help getting started.
I already own land and want to see if self-storage is a good fit for it.
I want to better understand my competition.

About Us

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Why Us

Why
Us

Deep Industry Knowledge

Box Pro Principal, Derek Walker, has developed more than 25 self storage projects throughout the United States and consulted on hundreds more since 2010.

He has also worked as an economic development consultant where he conducted several feasibility studies across multiple property types, including RV/boat storage, hotel, resort, office, industrial, multifamily, and specialty mixed-use.

He has a BA degree in Economics from the University of Utah and an MS in Real Estate Development from New York University.

See Derek's Market Insights for more.