Investment Overview

Marcus & Millichap is exclusively representing a self-storage development opportunity in Barnegat, NJ. Situated at 835 West Bay Avenue, this prime 4.71-acre parcel is poised for the development of a Class-A, multi-story self-storage facility. The property benefits from a use variance plan, and a variance for construction, allowing for the development of a two-story, climate-controlled facility with a total of 73,400 +/- NRSF and 843 +/- storage units. The facility will be completed with 107,720 +/- GSF. Additionally, the plans include 4 retail spaces which will enchance the properties gross potential revenue and drive additioinal traffic to the facility. Strategically located on Route 554, which connects Barnegat Boulevard to Main Street, the site is less than a mile east of U.S. Route 9, a major highway stretching from Delaware to New York. This high-visibility location ensures excellent accessibility and prominence in the region. Route 9 features 13,677 vehicles per day, providing excellent road front visiblity to drive by traffic. A facility in this market would serve a population base of 55,294 within a 5-mile radius of the facility. The facility is located 13 miles south of Toms River, NJ and 28 miles north of Atlantic City, NJ. In a 5-mile radius there is 5.2 sf per capita, and a median household income of $98,875. This development project represents a rare opportunity to capitalize on a well-positioned, high-demand location with substantial growth potential.