rookie, deal evaluation

[Adam L.]

So wondering if I could get some advice. An interesting deal came up for a storage unit complex that I'm trying to educate on how to evaluate. 

Asking Price $255k

Rental Income from storage, 21units: $2233/mo

Rental Income from Cell Phone tower, 20yr lease: $8100/yr (need to find out how long is left)

Taxes: -$145/mo

Insurance: -$120/mo

Utilities: $80/mo

Potential NOI: $30,399/yr --> 11.9%CapRate.

This is assuming full capacity and no management costs.

The property will definitely need some TLC and a facelift, as well as paying a management Co (I'm out of state).

The lot size is big enough to expand and construct more units.

It's near a lake and could be marketed as RV/boat storage. More established rentals in the area have an 8mo waitlist.

Any advice?