purchasing storage facilities?

[Theodore Jackson]

Does anyone have experience with purchasing storage facilities? I am looking for an existing facility. I'm not sure if it a good Deal. should I apply for an SBA loan or conventional?

                                                           2016             proforma

Gross Operating Income	$44,270.00	$50,148.00
Insurance	$1,344.00	$1,344.00
Marketing & Advertising	$530.00	$530.00
Office Supplies	$48.00	$48.00
Repairs/Maintenance	$1,136.00	$1,136.00
Property Taxes	$7,260.00	$7,260.00
Phone/Internet	$120.00	$120.00
Utilities	$995.00	$995.00
Total Operating Expenses	$11,433.00	$11,433.00
Net Operating Income	$32,837.00	$38,715.00

 ASKING 389.000  

There are saying in 2017 is was about 46,500

1. Acres  

Rentable  13,640  S/f 

80 unit 90% Occupancy     

8.5% cap

10.0% Cap pro-forma   

Thanks!