Replay: Stop Letting Sq. Ft. Per Capita Fool You
- garrett581
- 1d
- 2 min read
By Garrett Byrd
In our latest webinar, we shared how to evaluate sites with more precision than most brokers. This recap covers the technical traps and the local strategies needed to build wealth this year.
Key Takeaways from the Webinar
1. The Myth of Square Foot Per Capita. For decades, the industry relied on the 7-8 sq. ft. per capita rule. In 2026, this is a lagging indicator. The Flaw: It doesn't account for obsolete facilities (1980s style) or high-density growth trajectories.The Reality: A market with 10 sq. ft. per capita can still be undersupplied if rates are high and churn is consistent.
2. Visibility vs. Traffic Counts. It’s not just about how many cars pass by; it’s about "Memory Folders."Speed Matters: A 35 mph road with 25,000 cars is often better than a 55 mph highway with 40,000 cars. If they can't see the sign and turn safely, they won't rent. Retail Mindset: Your building is your primary billboard. Physical visibility still leapfrogs Google Ads in driving top-of-mind awareness.
3. Site Efficiency & "ROI Killers" Before you pour concrete, you need to identify the hidden traps that kill off-market deals: The Gold Frontage: You only need a sliver of prime road frontage to make an L-shaped or "less desirable" lot work. Easements & Topography: A 15% grade slope can add $500,000 in dirt work and retaining walls. Environmental Ghosts: Always check for old gas stations or dry cleaners early in due diligence.
The "Emotional Data" Edge Marc Goodin discusses why empirical data only tells half the story. To win as Walmart did against Kmart in the '60s, you must use Emotional Data:
Empirical Data (Online)
Population headcount
Average Household Income
Existing competition list
Google Street View
Emotional Data (In-Person)
Daytime vs. Nighttime density (workers vs. residents)
Perception of safety and "curb appeal."
Actual quality of management and gate tech
Word of mouth from town officials and neighbors
Rates and Revenue Velocity: Don't build your P&L on "Web Rates." These are often teaser discounts.
Pro Tip: Rent a unit from your top 3 competitors. Watch how fast they implement rate increases. If a unit goes from $65 to $200 in six months, that’s your real market demand indicator.
The "Hometown" Advantage: Avoid "bait and switch" pricing. Build trust through 100 Business Alliances (local pizzerias, realtors, and salons) to dominate your 3-mile radius.
Important Links & Contacts.
Next Webinar 2/19/26 11:00 am EST
Free Resource:
Email Garrett for the "Comprehensive Competition Review" or the "12 Proven Keys to Self Storage Develpment Success
Contacts:
Garrett Byrd: garrett@storageauthority.com
Marc Goodin: marc@storageauthority.com
If you have questions about how to get started in self-storage or about self-storage franchising?
📩 Questions? Contact: Garrett@StorageAuthority.com
📞 Schedule a 1-on-1 Call: Schedule Discovery Call Or Call 941-928-1354
📚 Free Book: “Is Self Storage the Right Investment for You?”
Email Garrett for your free copy at Garrett@StorageAuthority.com
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