investment highlights
- RARE OPPORTUNITY // Next investor has the opportunity to enter the undersupplied and growing market of Hazlet, New Jersey – a township within the NYC MSA.
- PRIME RETAIL LOCATION // Facility is immediately adjacent to Home Depot and sees over 42,000 cars per day with frontage on Route 35. It is directly across from a Stop & Shop-anchored retail center also featuring Dunkin Donuts, Tip Top Nails, and PNC Bank. The property is also located across from CVS Pharmacy and in close proximity to Bethany Manor and Holmdel Pointe apartment complexes.
- GREAT DEMOGRAPHICS // The three-mile trade area has a population of 73,633 and a median household income of $135,296 in an attractive supply ratio of only 2.79 climate-controlled NRSF per capita and a total of 6.62 NRSF.
- STRONG FUNDAMENTALS // Devon Self Storage delivered this Class-A institutional quality storage facility in a low supply area of Hazlet, NJ. The Township is taking strategic action to promote economic development, both commercial and residential, throughout Hazlet which will further strengthen the trade area.
Property Description
Devon Self Storage (Managed) is a 653-unit, 64,063 net rentable square foot self-storage facility located in Hazlet, New Jersey. The property sits on around 3.66 acres of land, was converted in March of 2022 and contains a single two-story self-storage building.
Devon Self Storage (Managed) has many amenities including coded entry with a digital keypad, an onsite management office located in the front of the facility, 24/7 video surveillance throughout the facility, and units with roll-up doors.
The facility is centrally located in Hazlet with excellent visibility from State Route 35 and over 42,856 passing vehicles per day. There are major drivers in the immediate area such as Home Depot, Stop & Shop, CVS, Dunkin Donuts, IHOP, Domino’s Pizza, and Dollar Tree. Hazlet is an upper class neighborhood with strong storage fundamentals and average household incomes exceeding $135K a year.
