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Lockwood Self Storage – Springfield, MA
100 Main St, Springfield, Massachusetts 01105
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Property Info
Price: $895,000
Units: 26
Year Built: 2015
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Download Marketing Package
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Broker Contact Info
Nathan Coe
614.360.9801
Nathan.Coe@marcusmillichap.com
Opportunity
The Market
Investment
Map
Springfield, Massachusetts Stabilized Self Storage Facility
POPULATION
In 2024, the population in your selected geography is 230,091. The population has changed by -0.93 percent since 2010. It is estimated that the population in your area will be 229,589 five years from now, which represents a change of -0.2 percent from the current year. The current population is 51.7 percent male and 48.3 percent female. The median age of the population in your area is 37.0, compared with the U.S. average, which is 39.0. The population density in your area is 2,924 people per square mile.
HOUSEHOLDS
There are currently 92,284 households in your selected geography. The number of households has changed by 3.20 percent since 2010. It is estimated that the number of households in your area will be 92,428 five years from now, which represents a change of 0.2 percent from the current year. The average household size in your area is 2.4 people.
INCOME
In 2024, the median household income for your selected geography is $65,808, compared with the U.S. average, which is currently $76,141.The median household income for your area has changed by 53.47 percent since 2010. It is estimated that the median household income in your area will be $74,317 five years from now, which represents a change of 12.9 percent from the current year.
The current year per capita income in your area is $33,588, compared with the U.S. average, which is $40,471. The current year’s average household income in your area is $83,694, compared with the U.S. average, which is $101,307.
EMPLOYMENT
In 2024, 102,001 people in your selected area were employed. The 2010 Census revealed that 57.8 percent of employees are in white-collar occupations in this geography, and 19.7 percent are in blue-collar occupations. In 2024, unemployment in this area was 5.0 percent. In 2010, the average time traveled to work was 22.00 minutes.
HOUSING
The median housing value in your area was $253,605 in 2024, compared with the U.S. median of $321,016. In 2010, there were 50,731.00 owner-occupied housing units and 38,689.00 renter-occupied housing units in your area.
EDUCATION
The selected area in 2024 had a lower level of educational attainment when compared with the U.S averages. 26.2 percent of the selected area’s residents had earned a graduate degree compared with the national average of only 13.5 percent, and 9.1 percent completed a bachelor’s degree, compared with the national average of 21.1 percent.
The number of area residents with an associate degree was higher than the nation’s at 12.3 percent vs. 8.8 percent, respectively.
The area had fewer high-school graduates, 2.0 percent vs. 26.2 percent for the nation, but the percentage of residents who completed some college is higher than the average for the nation, at 35.6 percent in the selected area compared with the 19.7 percent in the U.S.
• Springfield, Massachusetts Stabilized Self Storage Facility
• Turnkey Facility with Easy Storage Solutions Management In-Place
• Below Market Rents
• 7,050 Net Rentable Square Feet
• 26 Non-Climate-Controlled Units and Two Parking Spaces
• Facility Consists Mostly of Larger Units That Cater to Small Businesses
• Expansion Opportunity to Purchase the Adjacent Parcel; Seller Doesn’t Own, but Said Owner is Willing to Sell
• Recently Had the Parking Lot Resealed and Replaced Back Gate Operator
• Dense Area: 127,281 People Living Within a Three-Mile Radius, 231,672 Living Within Five-Miles