purchasing storage facilities?
Does anyone have experience with purchasing storage facilities? I am looking for an existing facility. I'm not sure if it a good Deal. should I apply for an SBA loan or conventional?
2016 proforma
| Gross Operating Income | $44,270.00 | $50,148.00 |
| Insurance | $1,344.00 | $1,344.00 |
| Marketing & Advertising | $530.00 | $530.00 |
| Office Supplies | $48.00 | $48.00 |
| Repairs/Maintenance | $1,136.00 | $1,136.00 |
| Property Taxes | $7,260.00 | $7,260.00 |
| Phone/Internet | $120.00 | $120.00 |
| Utilities | $995.00 | $995.00 |
| Total Operating Expenses | $11,433.00 | $11,433.00 |
| Net Operating Income | $32,837.00 | $38,715.00 |
ASKING 389.000
There are saying in 2017 is was about 46,500
1. Acres
Rentable 13,640 S/f
80 unit 90% Occupancy
8.5% cap
10.0% Cap pro-forma
Thanks!