Need help determining cash flow, purchase price for storage

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Hi members, I'm trying to analyze a deal to determine purchase price for a storage facility owned by mom/pop operator in a town with 10k population in AL to place LOI today or tomorrow. only one other facility in town. It's a poorly run facility w/ 160 units, >95% occupancy and value add potential. current annual revenue is $85k. expenses not shared, so I'm assuming 40% expense ratio. I'm raising capital for downpayment, financing 90% w/ SBA loan and providing 10% preferred return for investors. County appraised value is $700k, which I feel has already anchored the price but it doesn't cash flow. See screenshot below

I do not know what price I should be offering in the LOI. Should I offer a price based on what amount of cash flow I want? What amount of cash flow is acceptable? Please advise/comment/critique on my analysis and question and let me know if I'm missing anything. Thanks in advance

I personally wouldn’t submit an offer unless I knew exactly what the expenses were. That said, a 40% expense ratio seems high. If you’re going to move forward without knowing the expenses, offer a price that gets you the cash flow that you want.