It depends on if you are asking what sellers are starting at or what self storage is closing at ?
Value of self-storage will depend on location,direct competition in the area,correct demographics for the type of facility (mid,low,high-end),any additional land that comes with the property for expansion later,how long the income has stayed stable and are occupancy rates on the decline or incline ?
You can negotiate a great deal and your return will depend on your debt service and future upside.Some banks will let you assume the loan with enough down at below market interest rates rather than foreclose. If you need help let me know.
Mar 7, 2010