Lockwood Self Storage
100 Main Street · Springfield, MA 01105 · Exclusive Offering
7,050 SF · 28 Units · 7.11% Current Cap → 9.68% by Year 5

Investment Snapshot
Asking Price
$840,000
$119.15 / RSF
Current Cap Rate
7.11%
2025 Verified Actuals
NOI (Excl. Tax)
$82,117
$97,558 gross revenue
Year 5 Cap Rate
9.68%
On $840K basis
Cap Rate Progression — $840,000 Basis
Current
7.11%
Year 1
7.19%
Year 2
7.99%
Year 3
8.53%
Year 4
9.09%
Year 5
9.68%
Property Highlights
- Stabilized 2015-built facility — steel frame, metal exterior
- Turnkey: Easy Storage Solutions management already in place
- Below-market rents — 20% Year 1 rent growth projected
- 26 non-climate-controlled units + 2 outdoor parking spaces
- Adjacent parcel available for purchase — expansion upside
- Gated keypad + 24/7 cameras — recently resealed parking lot
- 127,281 residents within 3 miles; 231,672 within 5 miles
- 84.2% operating efficiency ratio on 2025 verified actuals
Property Details
Year Built
2015
Net Rentable SF
7,050 SF
Total Units
28
26 Storage + 2 Parking
Lot Size
0.32 Acres
Construction
Steel Frame
Metal Exterior
Security
Gated + 24/7 Cameras
Unit Mix
Why This Deal
Immediate Upside
Below-Market Rents
Current rents trail comps by 15–30%. A disciplined rate plan projects 20% Year 1 growth, expanding the cap rate from 7.11% to 9.68% by Year 5.
01Truly Passive
Turnkey Operation
Easy Storage Solutions management is already in place — online booking, call center, and automated billing. The facility effectively runs itself.
02Growth Pathway
Expansion Available
Adjacent parcel owner has indicated willingness to sell. Acquiring it unlocks meaningful unit expansion and lifts the facility's revenue ceiling.
03Captive Demand
Dense Trade Area
127,281 residents within 3 miles and 231,672 within 5 miles. A captive urban submarket with active small businesses — the ideal tenant for larger units.
04Verified Income
Strong 2025 Actuals
2025 actuals show $97,558 in storage revenue against just $15,441 in operating expenses (excl. tax) — an 84.2% operating efficiency ratio.
05Low CapEx
Modern, Maintained Asset
Built 2015. Steel frame, metal exterior, concrete foundation. Parking lot recently resealed; back gate operator replaced. Minimal near-term capital needs.
06Ideal For
Exclusive Document
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