Stratton Research
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Storage Condominiums
The development of storage units for sale to individuals is a recent trend. It began with RV storage condominiums, with the best examples found in the West. This type of product has also emerged in other parts of the country.
There is some overlap between RV storage condominiums and more general light industrial condominiums.
The market for storage condominiums attracts four groups:
Owners of RVs and large boats
Car collectors
Small businesses
Investors
The analysis of the market for storage condominiums involves most of the factors that need to be considered for for-rent storage, with some differences:
Location
Definition of the primary market area
Definition of the targe market segments
Measurement of the depth of demand for for-sale storage units within each market segment
Survey of comparable and competitive projects
Financial feasibility analysis