New in StorTrack Explorer: Detailed Square Footage Analysis (Self-Storage vs. Vehicle Parking)

At StorTrack, we’re committed to providing the most accurate and actionable data for self-storage investors and analysts. That’s why we’re excited to announce a new feature in our Explorer platform for the US and Canada: a detailed analysis of net rentable square footage for self-storage facilities.

What’s New?

Our latest update separates square footage into the following categories:

  • Self Storage Only Facilities Net Rentable SQ FT: Includes square footage for facilities offering storage units exclusively.
  • Hybrid Facility Self Storage Net Rentable SQ FT: Captures only the self-storage area at hybrid facilities (offering both self-storage and vehicle parking).
  • Total Net Self Storage Rentable SQ FT: Combines the square footage from storage-only and hybrid facilities.
  • Parking Net Rentable SQ FT: Reflects vehicle parking square footage at hybrid facilities, excluded from square foot per capita calculations.

As displayed on Explorer’s interactive map and in the Market Snapshot

 

Why Does This Matter?

When analyzing a self-storage market for investment, separating self-storage square footage from vehicle parking space offers several key advantages:

  1. Precise Demand Analysis
    Self-storage and vehicle parking serve distinct markets. By separating the two, you can more accurately gauge the demand for self-storage units in a specific area without conflating it with vehicle storage needs.
  2. Market Density Insights
    Square footage per capita is a crucial metric for assessing market saturation or undersupply. Including only self-storage square footage ensures precise calculations, giving you a clearer view of market opportunities.
  3. Revenue Potential Evaluation
    Self-storage units and vehicle parking typically generate revenue differently. This breakdown allows for a more accurate analysis of a facility’s revenue streams and potential profitability.
  4. Competitive Benchmarking
    Facilities with different allocations of space for self-storage and parking can now be compared more effectively, helping you identify market strengths and weaknesses.
  5. Strategic Planning
    Understanding the allocation of square footage enables investors to develop targeted marketing and operational strategies based on the facility’s focus—be it self-storage, vehicle parking, or a combination of both.

A Tool for Smarter Investment Decisions

This feature provides better clarity, enabling you to make more informed decisions when evaluating self-storage markets and facilities. Whether you’re assessing new development opportunities, considering an acquisition, or tracking market trends, this detailed analysis gives you the metrics you need for smarter, data-driven decisions.

Explore the Update

Log in to your StorTrack Explorer account today to see this new feature in action and take your market analysis to the next level.

Not yet an Explorer user? Try it now for free

Explorer is available for the evaluation of markets in the US, Canada, Europe and UK.