Hi folks,

My wife and I are considering a self-storage business as an investment.
There are 2 separate sites in our area for sale (owner is deceased, and his widow wants to get out of the business)

Property 1 has 122 units, 11,600 sq ft rental space. Built 15 yrs ago
Current occupancy is at 60%
At 100% occupancy, net income is about $46,000
Asking price is $325K

Property 2 has 52 units, 560 sq ft rental space. Built 15 yrs ago
60% Occupancy rate is 60 %
At 100% occupancy, net income is about $18,000
Asking price is $110k

My question is, does this seem like a fair market price for these properties?
There are only 2 other self storage units within a 20 mile radius.

Seeing I'm still just a student, what other questions should I be asking?
Any hekp would be appreciated.