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Updated about 8 years ago,
Self Storage need advice
I am looking for buying someone problem , the self storage (location Houston , TX) seat on lot of 4 buildings 4300 SF (land 22,870 SF) around 70 units build 1998,
the appraisal value (from HCAD web site) 192k
have been vacant more than 5 yrs , need major rehab all units no doors , can't be expanded no more room.
Total population 31,295
Female population 16485 (52.7%)
Male population 14810 (47.3%)
Households 10792 (occupied 87.2%)
Home owners 4100 (43.6%)
Renters 5311 (56.4%)
Average number of people per household 3.32
Household Income Levels
$150,000 or More 244 (3%)
$30,000 to $74,999 3,934 (45%)
Less than $30,000 3,211 (37%)
$75,000 to $149,999 1,299 (15%)
in 5 miles radius had cubemart self storage with 300 units and public self storage 400 units.
My question is how much I will offer to buy ? potential to make money with this self storage ?