Help valuing a self storage facility

[Brandon M.]

I have come across an opportunity to purchase a small self storage facility that on the surface looks to be a good deal. The problem I am running into is the owners are close to 70 (ready to retire, this is why it is for sale) and they have not been keeping very good records and are not very sophisticated. They don't seem to do anything electronically and are having trouble getting me a lot of financials. I have asked for rent roll and tax returns, they are getting me 2009-2012 returns because they haven't filed 2013 yet. As for the rent roll, they don't seem to have monthly records. I personally don't even know how they know who has and has not paid.

I still want to purchase this property if at all possible, so I am wondering if anyone else has any experience with something like this. Also, I am wondering if there is any other way to value the property other than the rent rolls?