Looking at purchasing 160 Storage Units.

[Justin Thiesse]

I am looking at a 160 unit storage unit complex. What should be the cap rate be? I figured 10% What are the occupancy rates should I figure? I used 85% but not sure how much turn over there is in storage units. I currently own apartments and I am a little scared of chasing 160 Rents that range from $70 to $200 a month. Any advice or thoughts would be appreciated. I do believe these units to be in a great location. Not behind a current business or in the middle of nowhere like most.