Investment Overview

Marcus & Millichap is pleased to offer for sale the self-storage property located at 353-367 Park Ave, in Newark, New Jersey. Several storage unit sizes with climate-controlled options are offered at the property, ranging from compact 4x3 units to expansive 10×25 units. With its strategic location in a densely populated area, proximity to key transportation hubs, and the city's ongoing growth and redevelopment efforts, the property is well-positioned to capture the increasing demand for storage solutions. As Newark continues to evolve and attract new residents and businesses, this self-storage facility offers the potential for stable, long-term returns in a thriving urban market. Located just 8 miles west of Manhattan, Newark, New Jersey, is a vibrant city within Essex County and serves as a critical hub in the New York metropolitan area. With a population of approximately 311,000, Newark is the largest city in New Jersey. The city boasts a variety of transportation options, making it a convenient location for commuting and travel. The city is served by Amtrak and NJ Transit rail lines, providing direct access to New York City and other major destinations. Newark Liberty International Airport is located less than five miles from the property, one of the busiest airports in the United States facilitating air travel for 49.1 million passengers annually. Newark has seen significant development projects in recent years, the most notable of which include the revitalization of the historic downtown area, which includes new residential units, retail spaces, and office buildings. Projects such as the Prudential Tower and the mixed-use One Theater Square have transformed the cityscape, offering modern amenities and attracting new residents and businesses. Newark’s urban development and population growth contribute to an increasing need for self-storage options. As the city expands, both residents and businesses require additional space for personal belongings, documents, and inventory. The property is situated in an area with a significant residential and commercial presence, which drives demand for self-storage services. The surrounding neighborhoods and businesses often seek storage solutions for seasonal items, surplus goods, and equipment.