NEW JERSEY · NAICS 531130
New Jersey self-storage projects compete in one of the densest occupancy markets in the country. Studies analyze supply within a three to five mile radius, build absorption and lease-up curves, and benchmark rent against documented Northeast comparables that lenders track.
FEASIBILITY TRIGGER
Self-storage is special-purpose under SOP 50 10 8; studies analyze supply within a three to five mile radius, absorption, and rent benchmarks, and elevated equity applies.
From FY2010 through FY2026, New Jersey recorded 22 SBA-disbursed self-storage loans across the 7(a) and 504 programs, representing $34.6 million in approved financing at an average loan size of $1.6 million. The state sits at rank #30 of 38 for self-storage SBA lending volume and holds 1.0% of the national self-storage dollar pool. 7(a) accounts for 86.4% of the count, 504 for the rest, with 3 fresh approvals dated FY2024 or later.
| Disbursed loans (FY2010–FY2026) | 22 |
| Approved volume | $34.6 million |
| Average loan size | $1.6 million |
| 7(a) share | 86.4% |
| Approvals since FY2024 | 3 |
| State rank by loan count | #30 of 38 |
The state-level seasoned cohort in this segment is below our publication threshold of 30 loans, so no state rate is shown. Nationally, seasoned self-storage loans (approvals FY2010–FY2021) show an adverse-resolution rate of 1.1%, against 7.3% across all industries.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
An adverse-resolution rate of 1.1%, close to the national self-storage benchmark of 1.1%, puts New Jersey deals in this class on ordinary SBA credit footing. Across 22 loans averaging $1.6 million, the underwriting question is deal-specific: a rigorous third-party feasibility study is where documented demand and stressed coverage decide the credit outcome.
Every New Jersey self-storage project we underwrite follows the same lender ready process: independent market analysis, site and technical review, and financial projections tested against SBA SOP 50 10 8 standards. Our SBA feasibility study consultants guide explains scope, timing, deliverables, and what lenders and CDCs expect in the report.
New Jersey projects most often pencil under SBA 504 because the 50/40/10 structure delivers up to 90 percent financing on owner-occupied real estate at a fixed debenture rate, which matters where North Jersey land and improvement costs run with the metro New York market. SBA 7(a) covers acquisitions, working capital, and equipment, and from July 4, 2026 eligible borrowers can combine 7(a) and 504 for up to $10 million in total program credit.
The dense Northeast market ran 76.7 percent stabilized occupancy in late 2025, and Live Oak Bank's dedicated national self-storage vertical closed $111.7 million in calendar 2025.
For a national view of this asset class, see our self-storage SBA feasibility overview, and read our related analysis in the self-storage lending research on our blog. The SBA self-storage feasibility study tests pipeline supply, verified competitor occupancy and the monthly lease-up reserve.
Compare neighboring markets: New Hampshire, New Mexico, Texas.
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