I have a client who wants to sell a unique property. it is a duplex that has 19 garages behind it. The garages are all rented out for $100/month so it is a nice added income producer along with the duplex. How would you go about valuing this property with the addition to the garages? I analyzed it using its net income but the value seems way too high for the area.
if possible I'd try splitting the lot and selling separate, otherwise think of it more like selling a business than selling a piece of real estate, I'd be comparing more to laundromats or self serve car washes and things like that than other multifamily.