Paterson Storage Conversion
For sale182-184 Ellison St, Paterson, NJ 07505
$2,000,00053,250 SF
Self Storage$38/SF
Property type
Self Storage
Price
$2,000,000
Building size
85,617 sf
Rentable area
53,250 SF
Sold/status
On Market
Price per SF
$37.56
Property description
In Association with Scott Reid & ParaSell, Inc. | A Licensed New Jersey Real Estate Brokerage #1974375 | Inquiries by residents and property owners of the State of New Jersey are to be made to Scott Reid of ParaSell, Inc. Scott Reid Broker - ParaSell Inc. broker@parasellinc.com (949) 942-6578 NJ - 1537316
Property highlights
- Self Storage Redevelopment Opportunity With Plans in Place to Convert 85,617 Square Feet into a Class A Climate-Control Facility Featuring 1,000 Units Totaling 53,250 NRSF
- Fully Approved Site Includes All Zoning, Site Plan, and Historic-Preservation Approvals. Entitlements Allow Immediate Commencement of Construction Without Additional Municipal Review
- Paterson is a High Barrier to Entry Market Thanks to Limited Available Vacant Parcels and Strict Redevelopment Controls
- High Demand for Self Storage in the Market Evidenced by Very Low Market Saturation Rate of 4.3 SF/Capita for Self Storage Within Three Miles of the Site
- Population of 278,651 Residents Within Three Miles of the Site and 570,292 Residents Within Five Miles of the Site
- Average Household Income of $115,816 Within Five Miles of the Site
- Paterson is Located in Northeast New Jersey Approximately 15 Miles Northwest of New York City
- The New York-Newark-Jersey City MSA is the Largest in the United States and is Home to 19,498,249 Residents