My wife and I have done a few flip investments and are looking to start getting into some other forms of investments, including commercial. There's an opportunity for a 90 unit storage facility that is currently about 75% full. All the units are 10x12. Great location, easy access, and high traffic visibility. Owner passed away and family is looking to sell as they don't want to manage it.
Are storage units a good investment for a commercial property?
Seems like an almost perfect passive rental to me. no upkeep to speak of, low overhead...... it is all about the $ stream vs what they want... any business acquisition lawyer can walk you through the evaluation..
Work your numbers out, Cash flow, cap rate. What is the likelihood the zoning will become multifamily or PUD? Go to City planning dept look at future plans.
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