Paterson Storage Conversion
For sale182-184 Ellison St, Paterson, NJ 07505
Area Description
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. The New York-Newark-Jersey City MSA is the largest metropolitan area in the United States, home to 19,498,249 residents. Paterson, the seat of Passaic County, sits in northeast New Jersey approximately 15 miles northwest of New York City. Passaic County's employment base is anchored in healthcare, education and logistics, supporting durable local demand across the trade area. Transportation: The area is served by Interstate 80, Route 19, the Garden State Parkway and NJ Transit rail and bus service, providing strong regional connectivity for residents, employers and commercial traffic throughout the northeast New Jersey corridor. Culture & Attractions: Paterson is home to the Paterson Great Falls National Historical Park, centered on a 77-foot waterfall on the Passaic River designated a national historical park in 2009. The park includes Hinchliffe Stadium, restored and reopened in 2023 and now home to the New York Cosmos of USL League One. Manhattan, MetLife Stadium and the American Dream complex are all within a short drive. Major Employers: Passaic County's employment base is anchored in healthcare, education and logistics. St. Joseph's Health is the county's largest employer with over 5,300 employees, followed by Passaic County government, William Paterson University and a concentration of manufacturing and food distribution firms. These sectors support a resilient workforce and steady household formation that drive self-storage demand. Metro-scale demand with structural barriers to new storage development makes this durable infill supply. Within three miles, the population totals 278,651 and self-storage saturation is just 4.3 SF per capita; within five miles, average household income is $115,816. Limited vacant parcels and strict redevelopment controls constrain new competitive supply, supporting a resilient storage market for long-term ownership.
Area Highlights
- 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
Location
Daily Needs
Healthcare
Walkable Dining & Gathering
Quick Meals
Culture & Recreation
Education
Transit Access