Lucky Pick Self Storage

Grandstone Investment Sales is pleased to exclusively present Lucky Pick Self Storage, a 2022- built, Class A climate-controlled facility at 49 James Street, Worcester, MA, offering 525 units across 52,890 NRSF on 2.24 acres. The property is stabilized at 87.16% physical and 86.63% economic occupancy, with rents at market. As an owner-operated site with minimal marketing and heavy payroll, it gives a professional operator room to improve performance, with adjusted NOI projected to grow from $346,554 today to $386,717 by Year 5. Year 1 is set to the 2026 year-to date run rate, which is why it’s below current NOI.

The Worcester trade area provides a deep and durable demand base, with 103,960 residents within three miles and 206,061 within five miles, and a five-mile median household income of $71,453. Self-storage supply remains limited at just 3.68 SF per capita across 15 facilities within five miles, and even with the one project currently under construction in the trade area, supply is projected to reach only about 3.8 SF per capita, keeping the market firmly undersupplied. The offering presents investors with a rare opportunity to acquire a modern, institutional-quality multistory asset with stabilized cash flow from day one in an undersupplied Secondary market.