Land Acquisition/Valuation for Self Storage Expansion

[Christopher Brown]

I have a stabilized self storage facility and the opportunity to buy the undeveloped adjoining lot.  The owner of the lot is the guy who developed my storage facility a few years ago.  It is not a public listing and there aren't any comps for this kind of land in my area.  How do I value it?  Will commercial brokers help out with that kind of valuation when it's not going to be a brokered transaction?  Do brokers do that kind of rough valuation for a flat fee rather than a commission?  Is there a role for a buyers broker on transactions where the seller isn't represented?