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Updated about 6 years ago on . Most recent reply
![George Gao's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/377926/1621447721-avatar-georgeg10.jpg?twic=v1/output=image/cover=128x128&v=2)
38-unit Storage Facility
There is a 38-unit self storage facility listed on MLS with average rent of $60/unit; Built in 1998; located in Porter, TX, which is in Montgomery County (north of Houston). This is a mom-and-pop operation. The area is blue-collar and 3mi off a busy interstate. Annual expenses about $5-$6k. Asking $280k, implies a 10cap with 17% coc. Does this seem like a too small of a facility? Is there an average size for storage facility that's needed to run optimally?
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38 units is very small but it is real estate that you could own so if you see potential to cash flow and have a good exit plan I would say it would be worth it. Is there room to expand or is there demand for more units? I look at and analyze everything.