Metal-Sided Self Storage
For Sale
$799,000
6 Wells St, Massena, NY 13662
COMMERCIAL - Massena, NY
Property Size4,000 SF
Lot Size1.00 Acre
Price / SF$199.75
Days on Market303
Property Features for 6 Wells St
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
A corner lot
Elementary school district
Massena Central School District
Middle school district
Massena Central School District
High school district
Massena Central School District
Directions
Corner of South Main Street and Cook Street
Subdivision
ST LAWRENCE
Standard status
Active
APN
16.027-2-35, 16.027-2-36
Size
4,000 SF
Lot size
1.00 Acre
Utilities
Water source
Public
Building Details
Year built
2014
Building materials
Metal siding
Roof type
Metal
Architectural style
Other
Listing Agency:
1st Class Realty Group
(315) 769-2500
Listed By:
Diana Dufresne · License #10371202021
(315) 769-7533
Added: Oct 30, 2025
Changed: Aug 4
Last Checked: Aug 28 at 7:06AM
MLS# 52109
Copyright © 2026 St. Lawrence Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This self storage property includes two storage buildings and a separate large garage used for winter RV storage. The first building contains 14 units, including four 5-by-10 units and ten 10-by-10 units. The buildings total approximately 4,000 square feet on a 1-acre parcel, with metal siding and metal roofing. Constructed in 2014, the property is served by public water.
Located at 6 Wells St in Massena, New York, the facility offers an established storage configuration with on-site RV storage capability. The separate garage measures approximately 20 by 32 feet and adds enclosed space beyond the individual storage units.
Located at 6 Wells St in Massena, New York, the facility offers an established storage configuration with on-site RV storage capability. The separate garage measures approximately 20 by 32 feet and adds enclosed space beyond the individual storage units.
Key Highlights
- 14 units in the first storage building: four 5x10 units and ten 10x10 units
- Approximately 4,000 square feet of storage improvements
- Separate 20 x 32 garage 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
Lease Details
100%
Occupancy
Turnkey business
Opportunity
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 support an established operation with a separate garage used for seasonal RV storage.
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: 14 units in the first storage building: four 5x10 units and ten 10x10 units; Approximately 4,000 square feet of storage improvements; Separate 20 x 32 garage used for winter RV storage
