I am doing the math looking for a great deal but curious on how to figure appreciation correctly to evaluate my investment.Any suggestions or tips?

And given there aren’t many comps how would I evaluate this property?

I think being a financial advisor helps me understand the bigger picture and evaluate the long term pros and cons of different investments.For getting started I highly recommend Scott Trench's book Set for Life. 

I've never evaluated a deal before and I'm still on the fence about going in on it being so limited in my education. 

Never make an offer on the spot, always re-evaluate after looking at it.

What demographics are important when evaluating a site for storage units?

When evaluating the acquisition of a multi-family rental property (long-term hold), do you account for depreciation? 

I do have a plumber in my network that may be helpful in at least bouncing around ideas, but I suspect you'd want someone with more of an engineering skill-set to evaluate options for that. 

@Justin R.Feasibility of your application will depend on numerous factors, but the primary one you should be evaluating is how much time into the project does a good contractor have?

I ended up renting out the unit as-is and will re-evaluate down the road.