Feasibility Studies

We offer detailed analyses of a particular market/location to determine whether a self-storage project will be economically viable.

Option 1 - General Market Analysis

This study provides an overview of your market and a detailed analysis of your self-storage competition. Research will indicate if your location is a good candidate for a profitable self-storage development and will help define the total square footage and unit size/type configuration to most closely meet the expected demand for the self-storage product at your location. Your market analysis will include:

CONCLUSIONS AND RECOMMENDATIONS
REGARDING DEVELOPMENT

  • Should You Build?
  • What Should You Build?
  • When Should You Build?

TRAFFIC COUNTS

DEMOGRAPHIC REPORTS

  • Radius Study
  • Radius Summary
  • Trade Area Summary

EXECUTIVE SUMMARY 

  • Project Description
  • General Market
  • Target Market

COMPETITION SURVEY

  • Main Trade Area Competitor
  • Extended Trade Area Competitor
  • Site Reports

Option 2 - Basic Feasibility Study

Building on the General Market Analysis this study provides an actual suggested site plan for your tract with careful consideration of existing setback requirements, easements, topography, and determines ingress/egress issues. It considers parking, signage, landscape requirements, explains current zoning requirements and permitting issues that will affect your project. Extensive detail will be provided regarding:

PROPOSED DEVELOPMENT

  • Site Layout
  • Unit Mix
  • Construction Considerations
  • Pre-Bid Estimates

*PRELIMINARY MUNICIPAL REVIEW

  • Zoning
  • Building
  • Permitting

*Consulting Services for assistance with city council presentations or requesting variances from Planning & Zoning ordinances are available on an hourly basis starting at $75/hour plus expenses.

Option 3 - Premium Feasibility Study

This comprehensive study includes essential elements suitable for presentation to a lender or prospective partners. Utilizing key assumptions and data compiled from the Basic Feasibility Study, we project the expected development cost, determine your gross potential rent as well as expected operating expenses for your project. An attractively bound report along with a PDF version will be delivered to include the following financial data to support your business plan:

PRO FORMA

  • Initial Funding Amounts
  • Valuation Based on Stabilized Occupancy
  • Cash on Cash Return (multiple years)
  • Internal Rate of Return (multiple years)
  • Timeline of Break-even, Absorption, and Stabilization

CASH FLOW ANALYSIS

  • Ten Year Cash Flow Analysis
  • Annual, Monthly, and Un-leveraged Cash Flow Analysis

OPERATING STATEMENTS

  • Ten Year Operation Statements
  • Monthly During Lease-Up
  • Stabilized Operating Systems