In part one of our location article series we discussed the landmarks and considerations you should consider before going forward with your vicinity.
It’s also important to note that the variances are actually quite different from identifying a self-storage site and you should always consider hiring a consultant to move forward with your project before anything else.
Location is more than just the number of acres or distance to the nearest city. Believe it or not, smart renters will take in factors as small as whether you’ve got amenities, dog parks, and any other nice to haves.
Below we get into 8 major components you have to know (and check off your list) so you can be sure your renters are lined up.
8 Major Location Considerations
6-10 Acres: Similar to suburban settings, these range of acres is the minimum amount to allow renters to grow while navigating their toys in a safe and spacious environment.
Max site cross slopes of 3%: Again, this is important to avoid work/building costs.
Land basis below $4 / SF: Consider renters typically pay a little less than with self-storage facilities so you’ll want your land to have room for adequate margins.
Multiple site access points: Room to take wide corners, leave and enter without any headaches or stalls.
Located near or abutting marinas or campgrounds: Owners don’t always like to haul their toys for long distance. Sites located close to bodies of water, campgrounds and boat launches provide a convenient alternative.
Located with in the tourist oriented cities or towns close to amenities: Remember these folks are going on road trips, vacations, and long getaways. Locations near stores, fuels, and grocery stores can be huge needle movers.
Population considerations: Population and density will vary slightly compared to suburban rental units with amin of 40k residents in the 4 mile radius.
Median Income above $60k in the 5 mile: Again be wary of the median income because it will determine the rate clients are willing to pay.