When considering a new self-storage build, the first question to address is the location of the land. Finding the right piece of property involves the consideration of several factors. These factors are:
- Zoning
- Visibility & Location
- Access
- Layout
Each of these factors is necessary for the success of a new self-storage business. Let’s discuss each of them.
Zoning
One of the main issues for site selection is zoning. Without the correct zoning, site development and construction can be stopped instantly. The city or county government will have information on the zoning for self-storage facilities. Selecting a property that is not correctly zoned is a costly and time-consuming mistake. Zoning can put a project on hold indefinitely or stop it completely.
Visibility & Location
High traffic count on a piece of property is important as well as the location in proximity to nearby residential areas. Residential neighborhoods governed by HOAs will be uniquely inclined to have a local self-storage. HOAs and deed restrictions often determine what homeowners can store on their property. As a result, there is greater demand for self-storage in these locations. A site that offers high traffic counts along with proximity to residential housing is great to consider.
Access
The site needs to be easily accessible for traffic. The location should be easy to get in and out of without much trouble for customers. Keep in mind that roads can change in the future, which might limit or increase accessibility for a piece of property. Accessibility is not the most important factor to consider unless there are competitors nearby with better access than the site considered.
Layout
Layout is important to consider. A rectangular piece of land is the best option for a self-storage business. This would be the easiest site to develop and maximize income potential. That doesn’t mean a great piece of land, with a great price, that is correctly zoned should be overlooked on layout alone. If we found a perfect 10-acre tract at the right price with the necessary zoning, near residential housing with easy accessibility, the fact that it is not a perfect rectangle would not deter us.
Site selection is a lot like shopping for a home. Create a list of the must-haves. Find a piece of land that checks off most of the boxes. Zoning is a deal breaker. Everything else is workable.
Our team at Coastal Storage are experts in site selection. We work through every step of the process with our clients to ensure the success of the project. We would love to work with you on your next self-storage investment. Call us today at 904-591-0140 to get started.