Ewing Self-Storage Conversion
558 W Ingham Ave Ewing, NJ
558 W Ingham Ave, Ewing, NJ, 00000
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For Sale
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Recently renovated self-storage facility in densely populated area.
Property Size50,704 SF
Lot Size1.01 Acres
Price / SF$167.64
Days on Market475
Property Features for 558 W Ingham Ave
General Information
- Standard status
- Active
- Size
- 50,704 SF
- Lot size
- 1.01 Acres
- Property subtype
- INDUSTRIAL
Listing Agency
Colliers | Cleveland
(216) 409-3186
Listed by
Thomas Gustafson, CCIM
(216) 409-3186
Source
Moodyscre
Added: Apr 2, 2025 Checked: Jul 20 at 1:55 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers | Cleveland
Investment Insights
Based on property information with market context.
This recently converted self-storage facility opened in mid-2023. Situated in a densely populated area with 152,541 residents within a 3-mile radius, it presents a value-add opportunity due to below-average rental rates and expansion potential on the 3rd floor and lower level. The property benefits from cell tower income. The location is in an underserved market with strong demand for self-storage, indicated by a 3.39 SF/Capita ratio and a high percentage of renter-occupied housing at 54%. Located 1.5 miles from Trenton, NJ city center, it is also 34 miles from Philadelphia and 70 miles from NYC. Recent renovations include a new roof, HVAC system, elevator, dock, ramps, walkways, leasing office, windows, doors, exterior skin/façade, parking lot, and drive aisles. A new state-of-the-art, fully sprinklered fire suppression and life safety recall system has been installed, along with new electrical systems throughout the 50,704 square foot facility. The facility is 100% climate controlled. 70% of the 3-mile submarket square footage is REIT owned.
Key Highlights
- Underserved market with strong demand for self‑storage: 3.39 SF/Capita
- Value Add –Below average rental rates, with expansion opportunity on 3rdFloor and Lower Level
- Cell Tower Income
Local Financial Insights For Self Storage
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $730.1k | $14.40 |
| − Vacancy | −$36.5k | −$0.72 |
| EGI | $693.6k | $13.68 |
| − OpEx | −$208.1k | −$4.10 |
| NOI | $485.5k | $9.58 |
50,704 SF · lease $14.40/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Industrial
$13.55M
$11.86M – $15.81M
NOI $948,595 @ 7.0% cap · market cap 11.16%
Second Best
Self Storage
$6.94M
$6.07M – $8.09M
NOI $485,542 @ 7.0% cap · market cap 5.71%
Theoretical Best
Warehouse
$16.31M
$14.27M – $19.03M
NOI $1,141,935 @ 7.0% cap · market cap 13.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storage Box Central
Storage Facility
Similar For Sale Nearby
FAQs
What type of property is this?
Self storage facility - Recently renovated self-storage facility in densely populated area.
Where is this self storage facility located?
The property is located at 558 W Ingham Ave Ewing, NJ.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: Underserved market with strong demand for self‑storage: 3.39 SF/Capita; Value Add –Below average rental rates, with expansion opportunity on 3rdFloor and Lower Level; Cell Tower Income
