Self Storage Experts

Copy of Feasibility Studies

An icon representing the benefits of a feasibility study

Feasibility Study

Self Storage, RV/Boat Storage Average Cost: $9,500 plus travel

This comprehensive analysis is the absolute first step for developers, providing reliable underwriting worthy of submittal to serious investors and lenders. This narrative report includes:
1) In-depth Competitor Analysis; Supply & Demand model
2) Site Assessment with unit mix and phasing recommendations
3) Complete investment model including development cost, operations budget, cash flow proforma & sensitivity analysis
4) Site-specific and Market-based Recommendations

An icon representing the benefits of a limited feasibility study

Limited Feasibility Study

Average Cost: $5,500

This is not a “first step during feasibility.” This “Executive Summary” report includes a remote survey of local competitors, Supply & Demand Estimate, and Summary Investment Proforma. This analysis may be too limited by scope or data for investors or lenders. This report is not valid in markets with many strong competitors, or for developers considering sizable projects (more than 30K SF). This offers a lower price-point; but it is a limited analysis. We recommend this type of report only about 20% of the time.

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Acquisition Due Diligence

Average Cost: $9,500 plus travel

Specific market data, site assessment, analysis of financials, and review of existing operations model are included in this investment report. Here, we measure and define the upside potential and downside risks that come with the purchase of a store, and quantify recommendations for repairs, expansion, or modified management on a moving-forward basis.

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Quick Site Review

Call or Email

In many cases, we do this to gauge the potential of a specific site in a market. Like you, we do not want to invest time into a weak project. Sometimes, that means we spend an hour or two, upfront, and provide feedback as to the next steps. If we hate your site, or your ideas, we’ll tell you upfront! In many cases, this type of review is comparable to other “desktop reviews.” And often, there is no charge. Saves us all time and money.

Feasibility Study Includes: Market Thermometer, Comprehensive Competitive Analysis, Supply/Demand Analysis, Site Layout & Unit Mix Recommendations, Estimated Development Budget, Financial Performance Projections, Phasing Projections, Investment Analysis, Site Recommendations, Specific Marketing Recommendations, Specific Business Recommendations, Go/No-Go Conclusion.

A Storage Study Will Help You Answer the Following Questions:
  • What is the demand for self storage in my market?
  • What level of investment return can I expect?
  • Are there other new competitors entering this market?
  • How much will it cost?
  • How long will it take to lease up?
  • Can I charge a higher rate in my market?
  • How strong are my competitors and what are their weaknesses?
  • What unit mix should I use?
  • What business model should I use to maximize my investment?
  • What is the most effective marketing strategy for my site?
  • How much climate control will my market absorb?
  • Should I consider phasing my project? How?


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Storage Study
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By Benjamin K.Burkhart