http://www.performanceselfstoragegroup.com/project/milpitas-rv-self-storage/
Asking 4M. 178 spaces. No mention of cap rate…
More than $800sf, plus maybe leased land, next to railroad…Not a retail location. …Offer $2m
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I know Carl Touhey…always overpriced…Storage containers are not real property. …junk…
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It’s not on loop net. Why? I only see that on Performance’s website. No mention of cap rate either. Weird…
Yeah, that piece of land is no good.
Never buy storage containers…Buy real steel built onsite no more than 15 years old…The old woody walkups are junk too, like most Public Storage facilities…Suscribe to Mini storage magazine. .shows deals and the latest building techniques. …Touhey was a neighbor in Emerald Hills…not a straight shooter
This deal is basically a parking lot in a class D location. …pass
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Here’s one on the Central Coast, near Pismo Beach.
It includes two residential units upstairs. Funky. Although most Self Storage facilities I saw have a manager unit on site. Asking 1.45M. 6.5% cap rate.
Not bad…Tired old wood stucco building. .Dry rot, termites?
Good location. …Offer $1.1m…Financing is the big issue…Probably can get a discount for cash, or maybe get owner financing