Updated almost 7 years ago on . Most recent reply
Cost of Land to Build Self Storage
I'm interested in potentially getting into the self storage realm. My question in regards to that is what formula or numbers can I use to make sure it would be a sound investment. I'm having a hard time finding commercial land at a reasonable price that would make building a storage facility a profitable venture. I guess my main question is, if charging $60 per unit, how many units need to be built and how much per acre can I pay to make the number's workout after all the overhead? Thank you in advanced all you self storage aficionados!
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Joel - being nee to this area, can you explain what you mean by "how much to grade an acre and entitlement costs" mean?