StorTrack’s featured market this month is DeSoto, Texas, a suburb of the Dallas-Fort Worth metro area. In 2006, the National Civic League presented DeSoto with the All-America City Award. DeSoto has a thriving economic sector in the medical and aviation fields and over 400 acres of land ready for development.
How is DeSoto as a self-storage market and is it a good place to consider investing in? We’ve used StorTrack’s Explorer platform to look at some metrics to analyze its potential as a self-storage investment. Note: Reviewing data for self-storage properties can also give RV and boat storage developers critical information for their own feasibility studies
Self Storage Market Metrics for DeSoto, TX
There is a 7.53 square feet per capita supply in this market. For comparison, Texas‘s square feet per capita is 10.99. Out of the seven self-storage stores currently operating in DeSoto, two are REITs, four are mid-size operators and one is a small operator. There are no new planned development projects in this market, though there are 209 active projects across the state.
Rates in DeSoto have trended upwards in the last 12 months. The average rate per sq ft for standard, non-climate-controlled units is currently $1.45 and $2 for climate-controlled units.