Paterson Storage Conversion
Self Storage Conversion | Potential 53,250 NRSF
Investment 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 4.1 SF/Capita Within Three Miles of the Site.
Extremely Dense Population With 271,508 Residents Within Three Miles of the Site and 555,989 Residents Within Five Miles of the Site.
Very Strong Average Household Income of $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.
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