Validating the Project

Validation. You want it. Sensei’s got it. She will give it to you straight: thumbs up or thumbs down.

Initial Feasibility and Market Study for self-storage, boat and RV storage, storage condos, contractor yards or flex warehouse

After your preliminary research is completed, this initial study takes a hard look at the competition, rents, supply and demand to determine the market’s ability to support the proposed facility (also known as a Phase One Feasibility Report). Specifically, Sense Researches:

• Traffic patterns and customer behavior

• Market demographics and psychographics

• Competitor’s rental rates, pricing trajectories and other fees

• Planned competitive development in the pipeline

Using this data, Sensei makes development recommendations and projects initial income and return on investment. Although this data is not sufficient to present to a lender or investor, it allows you to determine if the location is worthy of pursuing and investing in a Full Feasibility Study. If so, the cost of the initial study is applied to the full study.

Turnaround: 6 to 8 business days

Full Feasibility Study for self-storage, boat and RV storage, storage condos, contractor yards or flex warehouse

This study gives you the information needed by your engineer/site plan designer, your lender and investors. It includes all of the research and analysis of the initial feasibility study, plus a deep dive into the competitions’ Strengths, Weaknesses, Opportunities and Threats (aka a SWOT analysis), thus providing a clear understanding of the amenities and marketing your facility needs to bee successful.

Sensei provides recommendations for your unit mix and phasing, and expert projections for your pricing model, operations budget, rent up period with cash flow and ten-year cash flow projections (and more) - demonstrating to your financial partner this is a sound investment worthy of underwriting. The fully study is the foundation of your business plan.

If the initial study is completed first, it's cost is applied to the full study if it is conducted within ten months.

Turn around: Two weeks

Acquisition Audit

Purchasing a self-storage, boat and RV storage, storage condo, contractor yard, or flex warehouse facility is a BIG decision. At Self-Storage Ninjas, our Acquisition Audits provide the comprehensive validation necessary to proceed confidently with your purchase.

An Acquisition Audit meticulously assesses the facility’s health. Our team, led by Sensei, conducts a thorough comparison of the units, vacancies, and prices provided by the seller against the actual rent roll to identify any inconsistencies. Additionally, we carefully examine financial records to gauge the business’s financial well-being.

Furthermore, our audit extends to evaluating the submarket’s health. Through in-depth research into competition, rents, supply, and demand, Self-Storage Ninjas’ data determines the long-term viability of the facility’s target prices and returns. We also consider necessary repairs and improvements to enhance the facility’s appeal.

Following interview with the management team and a review of facility operations, Sensei provides recommendations for improvement and for expansion if viable. This culminates in a strategic plan to leverage competitive strengths, address weaknesses, and optimize operational budgets.

Our pricing recommendations are meticulously tailored, taking into account each unit size and type along with the subjects facility’s competitive advantages and disadvantages. We project rental rates conservatively based on competitive facilities’ pricing as well as analysis from outside the primary and secondary trade areas if necessary.

Ultimately, our audit delivers projections for the facility’s proforma, cap rate, and return of investment. These insights empower your to make a well-informed purchase decision based on an impartial evaluation of the data.

Turnaround: 6 to 8 business days