Spencer Self Storage Development Site
Spencer, MA
Asking price
$1,790,000
Units
445
Cap rate
—
Price / unit
$4,022
About this property
Argus Self Storage Property Listings Listings Who We Are Find A Broker What We Do News & Research Market Monitor Presentations Industry News Closings Contact Listings Who We Are Find A Broker What We Do News & Research Market Monitor Presentations Industry News Closings Contact Spencer Self Storage Development Site Back to Results Spencer, MA $1,790,000 $2,500,000 $1,600,000 Main Street Self Storage is strategically located near the intersection of East Main Street (Route 9) and Donnelly Road in Spencer, MA, approximately 15 miles west of the city of Worcester, MA. The property benefits from strong visibility along a primary commercial corridor with over 13,588 vehicles per day (massDOT) and direct access to Worcester and the I-90/Mass Pike, making it highly accessible to the surrounding trade area. The development will utilize 16.48 net acres to deliver seven buildings across two phases, totaling approximately 87,500 gross square feet. The multi-story design of the climate controlled buildings maximizes rentable density while minimizing land coverage, leaving ample room for parking, and future expansion. Drive-up non-climate controlled units provide the ground-floor convenience that a significant segment of self storage renters demand, while the interior CC product targets the premium renter willing to pay for a fully protected environment. Phase I establishes the property with 445 units — a mix of 225 climate controlled interior units and 220 non-climate controlled drive-up units — representing approximately 60,550 SF. Phase II mirrors the Phase I CC building, adding an additional 225 climate controlled units and bringing the total project to 670 units and 87,500 SF. The phased approach allows the operator to respond to lease-up velocity and local market conditions when determining the optimal timing for Phase II construction. Municipal approvals include signage for the proposed self storage development. $1,790,000 View Executive Summary Request Offering Memorandum All fields are required. I am a Principal I am a Broker I accept the Disclaimer . Property Info $1,790,000 87,500 RSF 670 Units 16.48 Acres Contact Listing Broker Listing Broker Jessie Gilton NAI Norwood Group 617-820-8443 Email Listing Broker Nathan Beliveau-Robinson NAI Norwood Group (603) 345-0202 Email Stay Connected Contact Us 1-800-55-STORE Contact Us 5460 S. Quebec Street Suite 100 Greenwood Village, CO 80111 info@argus-realestate.com Join Argus Interested in becoming an Argus Broker Affiliate? Learn How © 2026 Argus Self Storage Advisors.
All details
Figures are transcribed from the source listing as published. “Source page last checked” is when our crawler last fetched that page — it is not a check of the financials and not confirmation from the broker.
| Asking price | $1,790,000 |
|---|---|
| Units | 445 |
| Price per unit | $4,022 |
| Building size | 60,550 sq ft |
| First seen by UnitListed | Sep 6, 2026 |
| Source page last checked | Oct 24, 2026 |
Before you call the broker
8 things are not disclosed on this listing. These are the questions that would close the gap — specific to a storage facility, not a generic list.
Net operating income — not disclosed
What is the trailing twelve-month NOI, and what does it include and exclude?
The single number a lender will size debt against. Ask what is excluded — management fees and reserves are the usual omissions.
What period the financials cover — not disclosed
Are these figures trailing twelve months, last calendar year, or projected?
A projected stabilised NOI and a current operating NOI can differ by a third, and both get called "NOI".
Gross income and operating expenses — not disclosed
Can you share a trailing twelve-month profit and loss, with the expense lines itemised?
NOI alone hides whether income is high or expenses are being under-reported. The split is what you underwrite.
Reason for sale — not disclosed
Why is the owner selling, and how long have they held it?
Never published on a listing, always worth knowing. Retirement and a looming capital bill are very different situations.
Physical vs economic occupancy — not disclosed
What is physical occupancy, and what is economic occupancy?
A facility can be 92% full and still be collecting far less, through concessions and delinquency. Physical occupancy alone flatters the deal.
Climate-controlled share — not disclosed
How many units are climate-controlled, and what is the rate premium?
Climate-controlled space earns more per square foot and costs more to run. The mix changes both sides of the model.
Expansion land and entitlements — not disclosed
Is there expansion land, and has anything been entitled or permitted?
Often the whole thesis in storage. Also the difference between a plan and a permit.
How it is managed today — not disclosed
Is this staffed, remotely managed or unmanned, and does a management contract transfer?
Decides whether the expense line you are shown survives the sale.
Asking price — disclosed
Currency of the asking price — disclosed
Unit mix and rent roll — disclosed
What has changed
Every date below is when we observed a change, not when it happened. We first saw this listing on Sep 6, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Sep 6, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
