Self Storage Valuation

[Jun Wang]

hi,

just got my first direct mail response back from the owner of the facility. hoping everybody can share their opinion on this deal.

10000 sq ft

90 units ( mixture of 10x5, 10x10, 10x15,)

currently 95% full with monthly revenue of about $5000

able to raise rent and achieve monthly revenue of about $6500

no extra land available for expansion

pretty much turn key facility with fence, concrete, some camera, light, and etc.

good location near residential house and apartments with 1 life storage about 4 miles out.

what would be a fair sale price?

keep in mind that this will be my first facility so not looking to get rich but more so educate myself about self-storage.

thanks everybody