Self-Storage Facility with Expansion
For Sale
$6,000,000
49 46-50 Houghton Street, Hudson, MA 01749
470-unit self-storage facility with expansion and redevelopment potential.
Property Size47,635 SF
Price / SF$125.96
Days on Market658
Property Features for 49 46-50 Houghton Street
General Information
Standard status
Active
Size
47,635 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$26,358
Amenities
Rubber Roof
Building Details
Year Built
2003
Listing Agency:
Real Estate Pros Inc.
(617) 682-6680
Listed By:
Jamie Venezia
Source:
Corcoran
Added: Nov 1, 2024
Changed: Aug 19
Last Checked: Aug 19 at 5:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Estate Pros Inc.
Investment Insights
Based on property information with market context.
This property features a 470-unit self-storage facility that has been in operation since 2005. The property also includes an additional lot located at 46-50 Houghton Street, presenting opportunities for expansion with drive-up bays or continued use as a parking area. The property has a total size of 47,635 square feet. Furthermore, there is potential for redevelopment into 83 residential live-work units. This versatile property offers expansion potential and is suitable as a buy-and-hold investment.
Key Highlights
- 470‑unit self‑storage facility
- Includes adjacent lot with development potential
- Operating since 2005
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$506,690
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$10,133,800
$10.1M
Cap Rate 7%
$7,238,429
$7.2M
Cap Rate 9%
$5,629,889
$5.6M
Market Conditions
NOI Build-Up for 47,635 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$766.0K $16.08/SF
− Vacancy
−$42.1K −$0.88/SF
EGI
$723.8K $15.20/SF
− OpEx
−$217.2K −$4.56/SF
NOI
$506.7K $10.64/SF
Area
Middlesex County, MA
Vacancy
5.50%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$10,133,800
Cap Rate 7%
$7,238,429
Cap Rate 9%
$5,629,889
Alternative Uses
Best Use
Industrial
$7.24M
$6.33M – $8.44M
NOI $506,690 @ 7.0% cap · market cap 8.44%
Second Best
Self Storage
$5.97M
$5.23M – $6.97M
NOI $418,140 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$28.20M
$24.67M – $32.90M
NOI $1,973,982 @ 7.0% cap · market cap 32.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
Explore this area
Business Placement
Demographics for 01749, MA
20,092
Population
8,560
Households
2.3
Avg Household Size
43
Median Age
47%
College-Educated
91%
High-School Grad
11.5 sq mi
ZIP Area
1,747
Density / Sq Mi
$107,202
Median Household Income
$60,908
Median Earnings
$1,416
Median Rent
$480,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - 470-unit self-storage facility with expansion and redevelopment potential.
Where is this self storage facility located?
The property is located at 49 46-50 Houghton Street Hudson, MA.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: 470‑unit self‑storage facility; Includes adjacent lot with development potential; Operating since 2005
