Underwriting the purchase of a new RV Storage Facility
I'm a Short Term Rental Investor with no commercial real estate experience.
Looking at an RV Storage Facility and hoping to get some help with how to analyze/underwrite.
I have List Price, Insurance, Taxes, Utilities & Revenue projections. What I'm unsure of are loan terms and a range of what makes a good investment when looking at cap rate (or other metrics).
I can eyeball a good STR in about 10 minutes but this is a whole new world. Any help or a push in the right direction would be greatly appreciated.