Self Storage Facility with RV
For Sale
$799,000
6 Wells St, Massena, NY 13662
Two storage buildings and a separate garage support a compact storage operation with varied unit sizes.
Property Size4,000 SF
Price / SF$199.75
Days on Market408
Property Features for 6 Wells St
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Multi-Family
Amenities
3
Metal
Corner Lot.
94 x 158 x 147 x 186
Corner.
Building Details
Year Built
2014
Listing Agency:
1st Class Realty Group
(315) 769-7533
Listed By:
Diana Dufresne · License #10371202021
Source:
Xome
Added: Jul 19, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:27PM
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 1st Class Realty Group
Investment Insights
Based on property information with market context.
This self storage facility includes two storage buildings totaling 4,000 square feet, along with a detached garage measuring approximately 20 x 32 feet that has been used for seasonal RV storage. Storage Building 1 contains 14 units, including four 5 x 10 units and ten 10 x 10 units. The second building provides additional storage capacity in 5 x 10 and 10 x 10 configurations. The property was built in 2014 and features metal construction on a corner lot.
Located at 6 Wells St in Massena, NY, the property occupies a parcel with dimensions of 94 x 158 x 147 x 186. The offering centers on the storage facility and includes an existing garage that expands the property's functional storage capacity.
Located at 6 Wells St in Massena, NY, the property occupies a parcel with dimensions of 94 x 158 x 147 x 186. The offering centers on the storage facility and includes an existing garage that expands the property's functional storage capacity.
Key Highlights
- Two storage buildings totaling 4,000 square feet
- Storage Building 1 has 14 units: four 5 x 10 and ten 10 x 10
- Separate garage measures approximately 20 x 32 feet and has been used for winter RV storage
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
$37,094
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
4.64%
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%
$741,880
$741.9K
Cap Rate 7%
$529,914
$529.9K
Cap Rate 9%
$412,156
$412.2K
Market Conditions
NOI Build-Up for 4,000 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
$57.6K $14.40/SF
− Vacancy
−$4.6K −$1.15/SF
EGI
$53.0K $13.25/SF
− OpEx
−$15.9K −$3.97/SF
NOI
$37.1K $9.27/SF
Area
St. Lawrence County, NY
Vacancy
8.00%
Lease Rate
$14.40 /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%
$741,880
Cap Rate 7%
$529,914
Cap Rate 9%
$412,156
Alternative Uses
Best Use
Self Storage
$529.9K
$463.7K – $618.2K
NOI $37,094 @ 7.0% cap · market cap 4.64%
Second Best
Warehouse
$428.2K
$374.7K – $499.6K
NOI $29,976 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$992.4K
$868.3K – $1.16M
NOI $69,466 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Explore this area
Business Placement
Demographics for 13662, NY
15,814
Population
7,785
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
89%
High-School Grad
89.2 sq mi
ZIP Area
177
Density / Sq Mi
$56,987
Median Household Income
$38,535
Median Earnings
$712
Median Rent
$118,300
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 - Two storage buildings and a separate garage support a compact storage operation with varied unit sizes.
Where is this self storage facility located?
The property is located at 6 Wells St Massena, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two storage buildings totaling 4,000 square feet; Storage Building 1 has 14 units: four 5 x 10 and ten 10 x 10; Separate garage measures approximately 20 x 32 feet and has been used for winter RV storage
