How to value a new self-storage facility

[Vlad Kolbas]

Looking for some direction in how to value a brand new 120 unit  self-storage facility that is currently 30% occupied (over last 5 months). Feasibility study has been done and there is need for more storage in the area.

Are there any general guidelines when establishing a value in this scenario?

We own three other facilities that have been very successful but they were almost 100% occupied when we bought them so it was easy for us to put value on them.

Any help is appreciated!