I agree, with Mike. If you can develop either covered or enclosed parking for that area, that might be the way to go.
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Justin Small
Executive Vice President
Diamond Self Storage Management, LLC
(713) 817-2388
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Original Message:
Sent: 02-14-2024 09:18 AM
From: Mike Gately
Subject: Best use for Open Land at a storage facility
Assuming you have the demand for it, we have seen better return on enclosed storage. Usually not as common, attracts higher income renter and rents/sf are more than enough to justify the higher cost. Good luck!
Mike Gately, CPM
President Emeritus
210-508-6450
Trusted Self Storage Professionals
Original Message:
Sent: 2/14/2024 10:07:00 AM
From: James Westbrook
Subject: Best use for Open Land at a storage facility
I have small storage facility near Lake Conroe. I have approximately 1 acre of land that is cleared and flat. I am currently using it for uncovered storage. I have been primarly focused on boat and RV storage.
I am looking at options for the acre of land. I am thinking about doing covered storage, or enclosed storage for this space. Looking for the best return on the investment. I know it is market dependent. But, looking for guidance if it is better to go with Covered storage or Enclosed.
Thanks
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James Westbrook
Magnolia Woods Storage
Magnolia TX
(936) 202-9967
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