182-184 Ellison St Paterson, NJ 07505

Listing agency Franklin Street - Corporate d***@franklinst.com Show Phone

Listed by David Perlleshi · License #NC #333662

Source Franklinst

Added: Apr 1 Updated: Jul 10 at 1:15PM Checked: Jul 10 at 1:15PM

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Investment Insights

Based on property information with market context.

This is a self-storage redevelopment opportunity with approved plans to convert 85,617 square feet into a Class A climate-controlled facility. The plans include 1,000 units, totaling 53,250 net rentable square feet. The fully approved site includes all zoning, site plan, and historic-preservation approvals. Entitlements allow immediate commencement of construction without additional municipal review. Paterson, New Jersey is a high barrier to entry market due to limited available vacant parcels and strict redevelopment controls. There is high demand for self-storage in the market, evidenced by a very low market saturation rate of 4.1 square feet per capita within three miles of the site. The location benefits from an extremely dense population, with 271,508 residents within three miles and 555,989 residents within five miles. The average household income is $113,666 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.

Key Highlights

• Fully approved site allows immediate construction, skipping additional reviews.
• Convert 85,617 square feet into a Class A climate‑control self‑storage facility with 1,000 units.
• High barrier to entry market due to limited vacant parcels.

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FAQs

What type of property is this?

Self storage facility - Redevelopment opportunity with plans for Class A climate-controlled storage.

Where is this self storage facility located?

The property is located at 182-184 Ellison St Paterson, NJ.

What are key features of this property?

This property features: Fully approved site allows immediate construction, skipping additional reviews.; Convert 85,617 square feet into a Class A climate‑control self‑storage facility with 1,000 units.; High barrier to entry market due to limited vacant parcels.