Many landowners consider building storage units on their property. Generally, it’s a good investment, as storage units generate income and don’t require an excessive amount of maintenance.
The question that then comes up is, “How many units should I build?” This simple question has no easy answer, though, and there are several factors that must be considered.
The most important thing to consider is market demand. Before building a storage unit facility, you need to do your homework to determine what the demand for such a facility is. Population is one important factor to consider. If your parcel of land is located in a sparsely populated area, it might not draw as many customers as one in a more densely populated area. You have to consider how far people will be willing to drive to get to a storage unit, especially if there is one closer to them.
If your land has more than a ten-foot elevation change in it, you could consider building a multi-level self storage structure. This type of structure can be built into a hill. There is no need for stairs or elevators in this type of design, so it seems to the customer like a one-story building. You will lose about 20% of the building to hallways, but you should still end up with over 40% building coverage.
You may consider building a multi-story self storage in order to maximize the number of units you’re building. This can greatly increase your square footage, but you need to keep in mind that customers won’t want to carry their good up flights of stairs, so elevators will become necessary. Two-story buildings are the most common design. Some of these can be built without sprinkler systems, while anything over two stories will require sprinklers.
These are some basic guidelines for you to consider when thinking about building a self storage facility. Ultimately, you need to consider the market forces before you build. Do your research and determine what the area you are looking to build in needs, and then tailor your project to that need. That is the best way to have success with a self storage building project.
