Joe DownsCEO & Co-Founder, Belrose Storage Group. Founder, Storage Moguls.

The Five Filter Buy Box Overview

30 Mar 2026 · 1 min

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A five-filter framework for evaluating real estate markets before acquiring or building facilities like self-storage. The filters, in order: HOA density, waterway access, a 20-to-1 supply gap versus national averages, local income demographics, and zoning. Use it as a quick screening checklist before deeper due diligence.

HOA density is first because it tells you whether forced demand is built into the market. Waterway access is second because that's where organic demand originates. Supply gap is third because the 20-to-1 national imbalance has to exist in your specific market, not just naturally. Income demographics fourth because the market has to support the rents your facility needs to hit for your return targets and your pro forma, and that's whether you're building or buying. And then zoning