A self-storage business has great investment potential, and careful planning helps you determine feasibility and maximize the return on your investment. Many variables factor into your mini storage business’s profitability, including area demand, local rental rates, operating efficiency and the size of your facility. If you’re looking to open a 1-acre mini storage business that features 10’x15’ storage units a common and mid-range storage unit size), you can reasonably expect to fit around 100 storage units on your land parcel. If you opt for larger or smaller units, this number would adjust accordingly.
An acre covers about 43,560 square feet of land. Keep in mind that not all of that land will have storage units on it. You’ll need to designate some of it for parking and driveways. You’ll also need to leave space for stormwater runoff and retention, and many self-storage entrepreneurs vastly underestimate how much space they’ll need for this purpose.
Just because you can fit this many storage units on a 1-acre property doesn’t necessarily mean you should. Having a professional site plan made ahead of time gives you a sense of how much market demand there is in your area and how many storage units you can expect to have occupied at any given time. This helps you develop a better sense of how much rental income your facility stands to generate than the size of the property, alone.
Interested in generating passive income through a self-storage business and wondering what your mini storage building investment might look like? Click here for a building price quote.
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Mini Storage Outlet
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7631 Shaffer Parkway, Suite C
Littleton, CO 80127
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800-486-8415
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