Car and Camper Storage?

[Craig Garrow]

I'm looking at purchasing a self storage business that is currently on 2.5 acres. It's only 24 units currently, so my plan would be to add another 24-26 units, and a pole barn behind that to store cars and campers. So, my question is, does anybody have any experience in this type of thing? How does one typically charge? I've heard it's by the foot and per season. Anything I should consider going into it? Thanks!

[Ian Price]

Craig,

I have never bought a self storage, but I have knowledge from assisting an appraiser with over 25 self storage comps. 

For rates, look at what other local competitors are charging. That's a good starting point. Then assess where your competitive at. Podcast 138 with @MichaelRogers

Are any of the units climate controlled? Is the fencing with keypad entry, cameras?