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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.
Form
Cost
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What do you need from me to get started?Once you've signed the project and made the deposit, send us the property address and any drawings or additional info (if available) and we'll get started.
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Why do I need a feasibility study?A feasibility study will help you determine if your contemplated project will produce adequate investment returns, and make suggestions to maximize profitability. Our studies are often used for obtaining construction financing as well.
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Do you also do feasibility studies for RV/boat parking facilities?Yes! We do feasibility studies for both self storage and RV/boat parking.
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Do you ever get things wrong?YES! The purpose of a feasibility study is to eliminate as many 'unknowns' as possible when analyzing your deal. To do this, we rely on our extensive industry knowledge combined with all the current market data we can gather. While we believe we do a pretty darn good job, we don't have a crystal ball!
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Can I use your feasibility study for financing?In most cases, yes. If you have a lender, check with them first to make sure Box Pro is on their approved vendor list (if applicable).
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Do you track new facilities being built in my market?We do our best to account for any new projects that are either planned or under construction in a given market. To do this, we rely on various market analysis programs that track new development and do our best to get in touch with the local economic development, zoning and/or building departments. Even though we try our best, sometimes projects still slip through the cracks.
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What is included in a feasibility study?A Box Pro feasibility study is a ~100 page document that includes a site analysis, demographic analysis, supply/demand calculation, competitor analysis, rental rate analysis, unit mix recommendation, preliminary development budget, full financial analysis, and management/development recommendations.
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Will you do a site visit?For a $2,000 fee, we will visit your site and tour the competitors.
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How long does a feasibility study take?1-2 weeks if done remotely. 2-4 weeks if a site visit is needed.
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What if my project is not feasible?As we begin your study, we will conduct a red flag analysis to eliminate potential deal killers. This includes issues pertaining to supply, zoning, wetlands, rental rates, and other considerations. If one of these items catches our eye, we will pause the study and let you know. If you choose to cancel the study, we'll bill you for work completed to date and cancel the engagement.
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How much does a feasibility study cost?A remote study costs $5,700. With a site visit, the study costs $7,700.
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What is included in a market identification study?The 5-10 top recommended markets/submarkets/pockets ripe for self storage development in your designated area.
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How much do market identification studies cost?Depending on the size of your target area, $2,000 - $5,000.
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Can you help me figure out where to invest?Yes! We also conduct market identification studies help to identify top markets/submarkets ripe for self storage development within your designated area.
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How do you determine the best markets for development?We rank markets based on a combination of supply, rental rates, population, population growth, household income, share of renters, rate affordability, and median property value, among other items.
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How broad are your Market Identification Studies?As broad as you like. The more defined the target area, the more granular our analysis.
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Do you offer any smaller/cheaper studies?We offer Abbreviated Market Studies which include a supply/demand analysis, demographic analysis, competitor analysis, and rental rate analysis. It costs $3,000 and usually takes 5-7 business days.
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What are Box Pro's qualifications?Box Pro is led by principal, Derek Walker, who has developed and managed more than 17,000 rentable storage units across 7 states since 2010. Additionally, he has consulted on hundreds of developments including self storage, RV/boat parking, hotel, retail, multifamily, mixed use, and other large-scale revitalization projects for both public and private clients. He has a Bachelors in Economics from the University of Utah and a Masters in Real Estate Development from New York University.
Why
Us
Deep Industry Knowledge
Our team of self storage experts has developed more than 25 self storage projects throughout the United States and consulted on hundreds more since 2010.
We have also worked in economic development and have conducted feasibility studies across multiple property types, including RV/boat storage, hotel, resort, office, industrial, multifamily, and specialty mixed-use.
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Our principal has a BA degree in Economics from the University of Utah and an MS in Real Estate Development from New York University.
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See our Market Insights for more.
Self-Storage Consultants
Whether you are new to the self-storage world or are a seasoned professional, we will help you understand your project’s potential and strategize to maximize your investment.
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At Box Pro, our seasoned self-storage consultants—led by industry veteran Derek Walker—offer expert insight in record time. Our self-storage consulting services include self-storage feasibility studies, RV/boat storage feasibility studies, self-storage demand studies, and self-storage market identification studies.
Contact Us
Contact
Us
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801 839 5844 (call/text)
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