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US Storage Centers
115 Bacon St North, Waltham, Massachusetts 02451
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Property Info
Price: $9,200,000
Units: 440
Year Built: 1984
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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
Boston, Massachusetts MSA Self Storage Offering
POPULATION
In 2023, the population in your selected geography is 290,420. The population has changed by 6.34 since 2010. It is estimated that the population in your area will be 295,889 five years from now, which represents a change of 1.9 percent from the current year. The current population is 48.2 percent male and 51.8 percent female. The median age of the population in your area is 39.0, compared with the U.S. average, which is 38.7. The population density in your area is 3,690 people per square mile.
HOUSEHOLDS
There are currently 112,997 households in your selected geography. The number of households has changed by 6.99 since 2010. It is estimated that the number of households in your area will be 115,332 five years from now, which represents a change of 2.1 percent from the current year. The average household size in your area is 2.4 people.
INCOME
In 2023, the median household income for your selected geography is $130,771, compared with the U.S. average, which is currently $68,480. The median household income for your area has changed by 48.41 since 2010. It is estimated that the median household income in your area will be $155,934 five years from now, which represents a change of 19.2 percent from the current year.
The current year per capita income in your area is $74,250, compared with the U.S. average, which is $39,249. The current year’s average household income in your area is $188,904, compared with the U.S. average, which is $100,106.
EMPLOYMENT
In 2023, 154,666 people in your selected area were employed. The 2010 Census revealed that 80.7 percent of employees are in white-collar occupations in this geography, and 7.4 percent are in blue-collar occupations. In 2023, unemployment in this area was 3.0 percent. In 2010, the average time traveled to work was 28.00 minutes.
HOUSING
The median housing value in your area was $794,339 in 2023, compared with the U.S. median of $268,796. In 2010, there were 63,321.00 owner-occupied housing units and 42,301.00 renter-occupied housing units in your area.
EDUCATION
The selected area in 2023 had a higher level of educational attainment when compared with the U.S averages. 40.3 percent of the selected area’s residents had earned a graduate degree compared with the national average of only 12.7 percent, and 30.4 percent completed a bachelor’s degree, compared with the national average of 20.2 percent.
The number of area residents with an associate degree was lower than the nation’s at 3.9 percent vs. 8.5 percent, respectively.
The area had fewer high-school graduates, 12.3 percent vs. 26.9 percent for the nation. The percentage of residents who completed some college is also lower than the average for the nation, at 8.3 percent in the selected area compared with the 20.1 percent in the U.S.
• Boston, Massachusetts MSA Self Storage Offering
• 34,538 Net Rentable Square Feet
• 417 Inside Units, 21 Drive-Up Units, 4 RV Parking Spaces, and 2 Warehouses
• Undersaturated Market: 3.25 NRSF/Capita Within a Five-Mile Radius & 6.45 NRSF/Capita Within a Three-Mile Radius
• Affluent Market: Average Household Income Within One, Three, and Five Miles is Well Above the National Average
• Average HHI: 1-Mile: $115,640 | 3-Miles: $160,306 | 5-Miles: $188,904
• Dense Surrounding Population: 290,420 People Living Within a Five-Mile Radius & 121,604 People Living Within a Three-Mile Radius
• Located Under Two Miles From Bentley University & Brandeis University