Running the Numbers on Self Storage Deal

[Kobe McDaniel]

Hi All,

I'm looking at a self storage listing that is listed for $5,000,000. The listing says NOI is $212,509 and their cap rate is 5.

Using the income approach, wouldn't $212,509/5 cap equal a property value of $42,501.80 I've already reached out to get more accurate numbers so I can do the math myself. Any self storage tips/advice would be great!