Cushman & Wakefield’s Self Storage Advisory Group has been exclusively retained to offer for sale the Hopedale, MA C/O Opportunity.

This facility presents a unique opportunity to acquire a newly constructed self-storage facility in the thriving town of Hopedale, MA. Completed in November 2024, this state-of-the-art facility offers investors a premium, low-maintenance, high-demand asset in a growing market. With an optimal blend of unit sizes, advanced security features, and a strategic location, this property is poised for strong occupancy and consistent cash flow.

Situated on 8.1 acres along South Main Street, the facility benefits from significant daily vehicle traffic and serves the towns of Hopedale, Milford, and Mendon, MA. Additionally, it is less than two miles away from Interstate 495, the second-longest auxiliary route in the Interstate Highway System. The facility spans 61,325 NRSF across 440 units, catering to local demand with a mix of 33,650 NRSF of drive-up, 27,675 climate-controlled units and 10 parking spaces that are 25 feet in length. The 3-mile trade area boasts favorable demographics, with an average household income of nearly $130,000 and existing supply of only 4.56 NRSF per person.

Located in Worcester County, just 35 miles west of Boston, Hopedale is a town rooted in history, once home to the Draper Corporation, the largest textile manufacturer in the world. Today, Hopedale is known for its vast parklands, strong community and school systems, and easy access to public amenities. Overall, Massachusetts is experiencing strong economic indicators that reflect its robust economic health. As of the second quarter of 2024, the state’s real GDP grew at an annualized rate of 3.3%, outpacing the national GDP growth of 2.8%. The unemployment rate remains low at 2.5%, underscoring a tight labor market, particularly in the technology, healthcare, and professional services sectors. Additionally, the state’s leading industries, such as biotechnology, finance, and education, continue to drive economic expansion. Massachusetts also benefits from a growing population and increasing household incomes, which further support consumer spending and economic resilience.

This newly constructed facility is an ideal opportunity for investors seeking to enter or expand their footprint in the storage market in Massachusetts. Given the asset’s favorable size and design, the facility is expected to stabilize to a NOI of nearly $1,000,000 at $24.39 net effective rents. Additionally, the facility’s strategic location makes this a promising investment in a highly stable market, allowing investors to achieve opportunistic returns.