I think the price will be competitive though.thanks.

How competitive are your rates? 

There is not a town in the United States, that does not need more storage, or "you" can't competitively build more storage there. 

To add to @Twana Rasoul point, San Diego has become super competitive , definitely a lot of sharks in the water, since there is a shortage in inventory but tons of prospect buyers.

But, as with any good, the downside is you are going to be paying a premium; there is a lot of in and out of state investment in Lakewood and I've found the market too competitive to cut my teeth on. 

Definitely worth finding out where they are allowed and what restrictions they have, some places are super Airbnb friendly and want tourists and investors, others have hotel owners who’ve been on committees for 100 years who shoot down competition, so they make it hard for airbnb to thrive. 

I wouldn't focus as much on the numbers while you live there (at least on your first one), especially in a competitive market.

If so, what is the competitive gain in proximity to competitors?

I can confirm that even for my residential clients it is extremely competitive to make offers and many of the homes are being bid well over the asking price.

The Charlotte Metro is very competitive right now and the pricing for the properties does make it difficult to find an investment that cashflow's well right off the bat (they do have great returns and appreciation when you do find a deal).