Self Storage Units

[Pete Harper]

I'm looking for feedback on building self storage units. We have a 10 unit Apartments in Conroe with about a half acre of vacant land. Initially we we're thinking of adding more units to maximize land usage. Investigating we learned Conroe has a building moratorium due to lack of water. Someone suggested we look into building self storage units.  The units would be available to tenants and the public. 

I'm looking for someone who has experience underwriting self storage. 

Thanks, Pete

[Zach Quick]

Quote from @Pete Harper:

I'm looking for feedback on building self storage units. We have a 10 unit Apartments in Conroe with about a half acre of vacant land. Initially we we're thinking of adding more units to maximize land usage. Investigating we learned Conroe has a building moratorium due to lack of water. Someone suggested we look into building self storage units.  The units would be available to tenants and the public. 

I'm looking for someone who has experience underwriting self storage. 

Thanks, Pete

 I wouldn't. Makes it a lot harder to sell with two property types down the road someday. Especially since 10 units isn't that large, and a half acre of storage isn't going to be large either.