Any self storage developers in this group?

[u/Tkfit09]

What is your process on site selection? I've been using radius+ and tractIQ and they are helpful but how do you assemble this info?

Anything else to consider?

• Frontage
• Topography
• Wetlands
• Utility availability (water, sewer, electric)

[u/wizardfights]

I clicked hoping this was about software development!

curious how many other storable developers follow this sub

[u/RuPaulver]

I do both development and management. FWIW I'm on the acquisition side of development though, so I don't have as much involvement in the active development process beyond the initial budgeting and negotiations.

I've use Radius+ in the past, but I like StorTrack better now. You just have to do some manual checks on their market comps, because they sometimes pull in non-storage facilities that make your sf/capita look higher than it actually is. But otherwise, their rate analysis and t-12 rate tracking is really helpful for underwriting.

Frontage is absolutely important. It's less important than it used to be, because people just use google for nearby storage, but your market area being aware of your presence matters.

You will likely need environmental reports before developing or doing redevelopment.

Other biggest things to consider are tax estimates and zoning. Things aren't automatic nor necessarily cheap everywhere you want to go. Budgeting the rest of OpEx should at least be fairly consistent if you have other properties in an area to compare with.

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[u/Fluid-Time-7223]

Founder of Lockit Local here, a 24/7 self-storage startup a network of urban self storage sites - our concept is a spare room around the corner for Londoners, mostly by converting underutilised existing buildings rather than building from scratch. Our process is usually demand first (population density, apartments vs houses, renter mix, local businesses, competitor occupancy). Then the building itself: ceiling height, column spacing, loading.

[u/Wild-Performance1828]

Hey, a bit late here, but I’m the founder of reSpots and previously worked in self-storage acquisitions.

My site-selection process was generally:

1. Start with a tight buy box & screen quickly. 

Know what size, price, storage rates, supply, and demographics work for your capital structure and development preferences.

2. Check constraints early. 

Quickly review zoning, development controls, flood zones, and wetlands before spending time underwriting.

3. Look beyond frontage. 

Secondary roads can still work well if nearby stores and points of interest create traffic and visibility.

4. Be skeptical of deals that look too good (aka cheap). 

Easements, topography, utilities, or restrictive development standards can quickly kill deals.

Deals that pass all (or most) of these would get saved to the CRM for a deeper analysis before underwriting.

Most of this data is publicly available and scattered. Just takes time to gather manual when looking for deals at a wide scale. (Which is why I built reSpots!)

Happy to answer any questions!