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Key Facts

Building Area

Property Description

Location - The property is situated along the south side of Morse Street, approximately 0.50 miles west of U.S. Route 1 (Boston Providence Highway) in Norwood, Norfolk County, Massachusetts.

Acres - +/- 2.68 acres (116,850 square feet)

Frontage - +/- 200 feet along the south side of Morse Street

Traffic Count - Not Available

Utilities - Water and sewer services are provided by the Town or Norwood. Electric service is provided by the Town of Norwood. Natural Gas Service is provided by National Grid.

Year Built - The facility opened for business in 2016.

Construction Detail - The facility is comprised of a single one-story building.

Elevator Detail - Not applicable (single-story building)

Apartment - There is no apartment at the facility.

Office - The facility has a retail oriented customer service office which is approximately 400 square feet in size.  

Climate controlled - The facility is 100% temperature controlled (heat, dehumidifiers and fans).

Features and Amenities - The facility has electronic access control, 24-hour video surveillance, climate controlled units, drive-up loading and a retail oriented customer service office.

Management - The property is professionally managed by Storage Investment Management Inc.

Software - The facility uses storEDGE software for the management of tenants.

Security - The facility is equipped with a 24-hour video surveillance system.

Operation Hours (Office) - Monday through Friday - 9:30 am to 6:00 pm; Saturday – 9:00 am to 4:00 pm; Sunday - 11:00 pm to 3:00 pm. 

Operation Hours (Access) - Monday through Sunday - 6:00 am to 9:00 pm

Investment Highlights

Recent Class A Construction – Planet Self Storage – Norwood is comprised of a single, 100% heated building which was completely re-developed and converted to self storage in 2016. The re-development resulted in an appealing, modern, industrial design with all features and amenities typically found in a new self storage facility. The property is located in the Town of Norwood, which is approximately 12 miles southwest of Downtown Boston.

Limited Competition with No Planned Development – Within three miles of Planet Self Storage – Norwood, there are approximately 5.9 square feet of existing self storage space per person, which is well below the national average. Further, there is no planned or proposed self storage development in the surrounding area.

Strong Demographics – There are over 54,500 residents with an average annual household income of over $134,700 within a three mile radius of Planet Self Storage – Norwood.

Excellent Access and Exposure – The property is situated along the south side of Morse Street, approximately 0.50 miles west of its traffic light controlled intersection with U.S. Route 1 (Boston Providence Highway), one of the major commercial arterials in the Norwood area. Morse Street is the primary roadway providing local residents with access to U.S. Route 1 resulting in excellent access and exposure to commuters.

Upside Potential – Income could potentially be increased through rental rate optimization, an advanced marketing strategy and implementation of additional operational efficiencies.

Last Updated Date: 12 Aug 2020
Steve Mellon
Steve Mellon
Managing Director, Capital Markets
Brian Somoza
Brian Somoza
Managing Director, Capital Markets
License details

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Last Updated Date: 12 Aug 2020

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