Lockwood Self Storage For
For Sale
Contact for pricing
100 Main St, Springfield, MA 01105
Self-storage facility in Springfield, MA with value-add potential.
Property Size7,050 SF
Price / SF$119.15
Days on Market491
Property Features for 100 Main St
General Information
Standard status
Active
Size
7,050 SF
Property subtype
Self Storage
Zoning
IND-A
Building Details
Year Built
2015
Listing Agency:
Marcus & Millichap - Columbus
(614) 360-9800
Listed By:
Nathan Coe · License #OH 2015003418
Source:
Crexi
Added: Apr 17, 2025
Changed: Aug 8
Last Checked: Aug 3 at 8:16AM
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 Marcus & Millichap - Columbus
Investment Insights
Based on property information with market context.
Lockwood Self Storage, located in Springfield, Massachusetts, is offered for sale. The facility features 7,050 net rentable square feet, encompassing 26 non-climate controlled units and two parking spaces. The unit mix consists mostly of larger units that cater to small businesses. The property is a turnkey facility with Easy Storage Solutions management in place. The site has below market rents.
Key Highlights
- Turnkey self‑storage facility with existing management (Easy Storage Solutions) in place.
- Below market rents offer potential for increased revenue.
- Relatively new construction (built in 2015).
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
$64,357
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
7.66%
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%
$1,287,140
$1.3M
Cap Rate 7%
$919,386
$919.4K
Cap Rate 9%
$715,078
$715.1K
Market Conditions
NOI Build-Up for 7,050 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
$97.3K $13.80/SF
− Vacancy
−$5.4K −$0.76/SF
EGI
$91.9K $13.04/SF
− OpEx
−$27.6K −$3.91/SF
NOI
$64.4K $9.13/SF
Area
Springfield, MA
Vacancy
5.50%
Lease Rate
$13.80 /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%
$1,287,140
Cap Rate 7%
$919,386
Cap Rate 9%
$715,078
Alternative Uses
Best Use
Industrial
$919.4K
$804.5K – $1.07M
NOI $64,357 @ 7.0% cap · market cap 7.66%
Second Best
Self Storage
$835.0K
$730.6K – $974.2K
NOI $58,450 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$1.91M
$1.68M – $2.23M
NOI $134,006 @ 7.0% cap · market cap 15.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Explore this area
Business Placement
Demographics for 01105, MA
12,051
Population
5,554
Households
2.2
Avg Household Size
33
Median Age
8%
College-Educated
64%
High-School Grad
1.2 sq mi
ZIP Area
10,043
Density / Sq Mi
$22,994
Median Household Income
$24,078
Median Earnings
$976
Median Rent
$238,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Self-storage facility in Springfield, MA with value-add potential.
Where is this self storage facility located?
The property is located at 100 Main St Springfield, MA.
What is the asking price?
The asking price for this property is $840,000.
What are key features of this property?
This property features: Turnkey self‑storage facility with existing management (Easy Storage Solutions) in place.; Below market rents offer potential for increased revenue.; Relatively new construction (built in 2015).
