Mini-Storage Unit Analysis
Hey Guys!
I'm looking for some assistance in how you would analyze storage units. I am looking into purchasing a mini-storage unit in my local area and this will be my first segue into Commercial investing. I currently own residential investments.
Purchase Price: $459.000
# of units: 76
| Annual Income | $49,000.00 |
| Vacancy Factor (7%) | $3,430.00 |
| Adjusted Income | $45,570.00 |
| Management Fee (5%) | $2,278.50 |
| Reserve Requirment (4%) | $1,822.80 |
| Net Operating Income | $41,468.70 |
| Cap Rate | 9.50% |
| Total Value | $436,512.63 |
additional expenses:
annual taxes: $12,908.38
biz ins: $1,871
telephone/internet: $599
utilities(lights): $677