Building Details

Year Built 1985

Buildings 5

Listing Agency: The Murphys REALTORS, Inc.

Listed By: David A Murphy · License #449000181 Show Phone

Source: Lyvrealty

Added: Jul 21 Changed: Oct 10 Last Checked: Oct 7 at 1:21PM

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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 The Murphys REALTORS, Inc.

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Investment Insights

Based on property information with market context.

Constructed in 1985, this self-storage property includes five separate buildings totaling 26,100 square feet. The facility contains 219 units, with configurations ranging from compact 5-by-5 units to larger 10-by-30 units, providing a varied storage mix within the existing layout.

The 2.59-acre property is located at 8 Northfield Road, also identified as Route 63, in Erving, Massachusetts. Its established operating history and multiple-building configuration define the existing commercial asset.

Key Highlights

• 26,100‑square‑foot self‑storage facility
• 219 storage units across five buildings
• Unit sizes range from 5x5 to 10x30

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$229,106

Cap Rate

7.39%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,582,120 $4.6M

Cap Rate 7%

$3,272,943 $3.3M

Cap Rate 9%

$2,545,622 $2.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 26,100 SF

Gross rent

$344.5K $13.20/SF

− Vacancy

−$17.2K −$0.66/SF

EGI

$327.3K $12.54/SF

− OpEx

−$98.2K −$3.76/SF

NOI

$229.1K $8.78/SF

Area

Franklin County, MA

Vacancy

5.00%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,582,120

Cap Rate 7%

$3,272,943

Cap Rate 9%

$2,545,622

Alternative Uses

Best Use

Self Storage

$3.27M

$2.86M – $3.82M (±1% cap)

NOI $229,106 @ 7.0% cap · market cap 7.39%

Second Best

Warehouse

$2.80M

$2.45M – $3.27M (±1% cap)

NOI $196,012 @ 7.0% cap · market cap 6.32%

Theoretical Best

Healthcare Medical

$10.82M

$9.47M – $12.63M (±1% cap)

NOI $757,603 @ 7.0% cap · market cap 24.44%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Self storage facilities

Suggested Use

Top Pick Building Supply Storage Facility Grocery & Convenience Store Restaurant Auto Repair Shop Food Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

26

Businesses Nearby

Explore this area Business Placement

Demographics for 01344, MA

1,665

Population

751

Households

2.2

Avg Household Size

44

Median Age

25%

College-Educated

95%

High-School Grad

13.8 sq mi

ZIP Area

121

Density / Sq Mi

$74,550

Median Household Income

$41,915

Median Earnings

$992

Median Rent

$241,500

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Frequently Asked Questions

What type of property is this?

Self storage facility - Five-building facility offers a broad mix of enclosed storage unit sizes for commercial storage operations.

Where is this self storage facility located?

The property is located at 8 Northfield Rd Erving, MA.

What is the asking price?

The asking price for this property is $3,100,000.

What are key features of this property?

This property features: 26,100‑square‑foot self‑storage facility; 219 storage units across five buildings; Unit sizes range from 5x5 to 10x30