Multi-Building Self-Storage
37 W Main St, Ware, MA 01082
For Sale
$199,900
Three structures offer concrete-floored garage space, with bays used by both tenants and the owner.
Property Size1,914 SF
Days on Market12
Property Features for 37 W Main St
General Information
Standard status
Size
Property subtype
Zoning
Lease Term
Additional Details
Tenant in Place
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Gravel Real Estate Associates
(413) 967-7355
Listed By:
Lori Fisher
(617) 620-0027
Source:
Iverty
Added: Oct 27
Changed: Nov 7
Last Checked: Nov 7 at 1:33PM
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 Gravel Real Estate Associates
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Investment Insights
Based on property information with market context.
The property comprises three buildings with 15 garage bays, each finished with concrete flooring. Ten bays are leased month to month, while the owner occupies the other five. A roof, siding, and garage doors were updated within the last 10 years. The building dates to 1914.
The parcel carries Downtown Commercial zoning and previously received a special permit. The permit’s scope is not specified here; prospective users should confirm allowable uses with the town.
The parcel carries Downtown Commercial zoning and previously received a special permit. The permit’s scope is not specified here; prospective users should confirm allowable uses with the town.
Key Highlights
- Three buildings contain a total of 15 garage bays
- Concrete flooring in all 15 bays
- Ten bays are rented month to month; the owner uses the remaining five
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,870
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$357,400
$357.4K
Cap Rate 7%
$255,286
$255.3K
Cap Rate 9%
$198,556
$198.6K
Market Conditions
NOI Build-Up for 1,914 SF
Gross rent
$26.9K $14.04/SF
− Vacancy
−$1.3K −$0.70/SF
EGI
$25.5K $13.34/SF
− OpEx
−$7.7K −$4.00/SF
NOI
$17.9K $9.34/SF
Area
Hampshire County, MA
Vacancy
5.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$357,400
Cap Rate 7%
$255,286
Cap Rate 9%
$198,556
Alternative Uses
Best Use
Warehouse
$343.1K
$300.2K – $400.3K
NOI $24,018 @ 7.0% cap · market cap 12.02%
Second Best
Self Storage
$255.3K
$223.4K – $297.8K
NOI $17,870 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,592 @ 7.0% cap · market cap 40.82%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
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Business Placement
Demographics for 01082, MA
10,565
Population
5,021
Households
2.1
Avg Household Size
44
Median Age
26%
College-Educated
92%
High-School Grad
47.0 sq mi
ZIP Area
225
Density / Sq Mi
$71,023
Median Household Income
$49,991
Median Earnings
$1,049
Median Rent
$271,200
Median Home Value
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Self storage facility - Three structures offer concrete-floored garage space, with bays used by both tenants and the owner.
Where is this self storage facility located?
The property is located at 37 W Main St Ware, MA.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Three buildings contain a total of 15 garage bays; Concrete flooring in all 15 bays; Ten bays are rented month to month; the owner uses the remaining five
