Developing self storage in southern Oregon. Need some advice.
I own 1.75 acres in southern Oregon that I want to develop into approximately 40,000 SF of self storage.
Anyone have any basic "rule of thumb" or "cheat sheet" operating expense formulas that I can use for a proforma?
I hired a feasibility consultant and have paid for a demand/absorption rate study.
But before I plonk another few thousand down for the consultant to do a formal pro-forma I want to do my own quick-and-dirty SMV (stabilized market value) underwriting.
Any tips or comments would be helpful - especially from those with experience operating self storage in this space.