Hello everyone!
I have found a great storage unit property for sale by owner however this guy is over pricing the property…
the market value of the property is only $151,875 and he has it for sale for $1.2 million??? Does any one have any suggestions? I really want the property. thanks
SHAW
I would guess that your gap (between your price and his) is way to big…I would call and ask how he arrived at his figure.
In instances where you are speaking of a business (‘storage’) AND realestate (the structure), the price takes into account the revenue generation.
BTW - I’ve often been told that storage buildings are built mostly to generate revenue on land that is being held long-term for another purpose. Sometimes well-stituated commercial property commands astronomical prices!
Keith
SHAW,
I would imagine there would have to be a mix up in the numbers some where in this deal. Where are you getting “market value of the property is only $151,875”? Where is the seller getting $1.2? Do you know if he has had an MAI appraisal done? Have you seen the sellers financials on the facility? Where is the property located?
How many units are in the facility? Is the land included? Are you including the land or lot in your figures?
so many questions…so little time… :o
That’s why you have 3 red houses…one more and $250 and you can buy a hotel!!!
Keith