Self Storage location question

[Steve Cheslock]

I am currently looking at getting into the self storage space and am in the middle of doing my due diligence.  I am looking into the process, costs and a feasibility study.  I currently have the opportunity to purchase some commercial property about two miles off the main road. The neighborhood is safe and clean, the only issue is that it is not on the main road.

I am curious if a successful marketing campaign (or any other ideas) is strong enough to offset the disadvantage of not being on the "main road", or is not being on the "main road" a big hurdle to overcome.  

*Note the town I am looking in has a population of 90,000.  

Thank you in advance for any help.  

[Scott Meyers]

Steve, 

Approximately 70% of all rentals in the Self-Storage Business this past year, began as leads from a google search on a Smartphone, and that # is certain to rise. 

This is a NEEDS Driven Business - When someone NEEDS Storage, they do a Google Search, and find the closest facility.  And if the site portrays security, cleanliness, and the ease of which to reserve or rent a unit - this trumps having the prime location on the main road with a high traffic count. 

I won't discount the benefit of being on the main road, but the ROI on paying for those prime parcels isn't always as great as one might think.

Now, this is a broad stroke, because as always, it "depends" on the site, the market, and a number of other factors.  For that reason, you should make your decision based upon your feasibility study, and make sure you hire a Self-Storage SPECIFIC consultant to provide one, not a generalist. 

If you want to PM me, I can introduce you to our consultant.   He's performed thousands of studies and about a dozen for us over the years.     

Cheers,