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182 Ellison St - Paterson Storage Conversion 85,617 SF Specialty Building Offered at $6,505,177 CAD in Paterson, NJ 07505
INVESTMENT HIGHLIGHTS
- Extremely Dense Population With 271,508 Residents Within Three Miles of the Site and 555,989 Residents Within Five Miles of the Site
- 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
- The New York-Newark-Jersey City MSA is the Largest in the United States and is Home to 19,498,249 Residents
- 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
EXECUTIVE SUMMARY
This property presents a unique self-storage redevelopment opportunity with fully designed plans to transform an existing 85,617-square-foot structure into a premier Class A climate-controlled facility. The conversion will feature approximately 1,000 units totaling 53,250 net rentable square feet, offering modern amenities and operational efficiency. The site is fully entitled, with all zoning, site plan, and historic-preservation approvals secured, allowing construction to begin immediately without additional municipal review. Located in Paterson, a market characterized by high barriers to entry due to limited vacant land and stringent redevelopment controls, this asset stands out as a rare chance to establish a best-in-class storage facility in a densely populated, supply-constrained area.
PROPERTY FACTS
| Price | $6,505,177 CAD | Building Class | C |
| Price Per SF | $75.98 CAD | Lot Size | 0.47 AC |
| Sale Type | Investment | Building Size | 85,617 SF |
| Sale Condition | Redevelopment Project | No. Stories | 7 |
| Property Type | Specialty | Year Built | 2000 |
| Property Subtype | Self-Storage | Opportunity Zone |
Yes
|
| Zoning | B-4 | ||
| Price | $6,505,177 CAD |
| Price Per SF | $75.98 CAD |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 0.47 AC |
| Building Size | 85,617 SF |
| No. Stories | 7 |
| Year Built | 2000 |
| Opportunity Zone |
Yes |
| Zoning | B-4 |
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Walk Score®
Walker's Paradise (99)
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182 Ellison St - Paterson Storage Conversion
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