Self-Storage Facility
Clinton NJ Self Storage Development
1755 NJ-31, Clinton, NJ 08809
Listing Price: $2,500,000
Investment Overview
Marcus & Millichap is pleased to exclusively offer for sale the Clinton Storage Development site, an entitled 700-unit, 73,940 NRSF self-storage development opportunity in Clinton, New Jersey. The 5.43-acre site offers excellent visibility along NJ-31 with approximately 36,000 VPD and is located within an affluent, supply-constrained market.
The property benefits from $171,854 average household income, only 3.72 SF of storage per person within three miles, and no competing developments currently in the pipeline. Current climate-controlled rents average approximately $2.62/SF, supporting the project's revenue assumptions.
The project is projected to achieve a $1.31 million Year 5 NOI and an 8.8% yield on cost, providing investors with an opportunity to create significant value through development and lease-up.
Clinton NJ Self Storage Development
Investment Highlights
- Entitled Storage development opportunity
- Low Saturation - 3.72 SF/Person in 3 mile; 5.27 SF/person in 5 mile
- $2.62/SF average online Climate Control rental rates
- Over $170,000 average household incomes
- Excellent visibility with 36,000 VPD traffic counts
- High barrier to entry market and no other developments in the pipeline
Broker of Record
-
Jim McGuckin
Managing Director, Market Leader - New Jersey
Financing By
Listing Price: $2,500,000
Investment Highlights
- Entitled Storage development opportunity
- Low Saturation - 3.72 SF/Person in 3 mile; 5.27 SF/person in 5 mile
- $2.62/SF average online Climate Control rental rates
- Over $170,000 average household incomes
- Excellent visibility with 36,000 VPD traffic counts
- High barrier to entry market and no other developments in the pipeline
Investment Overview
Marcus & Millichap is pleased to exclusively offer for sale the Clinton Storage Development site, an entitled 700-unit, 73,940 NRSF self-storage development opportunity in Clinton, New Jersey. The 5.43-acre site offers excellent visibility along NJ-31 with approximately 36,000 VPD and is located within an affluent, supply-constrained market. The property benefits from $171,854 average household income, only 3.72 SF of storage per person within three miles, and no competing developments currently in the pipeline. Current climate-controlled rents average approximately $2.62/SF, supporting the project's revenue assumptions. The project is projected to achieve a $1.31 million Year 5 NOI and an 8.8% yield on cost, providing investors with an opportunity to create significant value through development and lease-up.
Broker of Record
-
Jim McGuckin
Managing Director, Market Leader - New Jersey
Financing By
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