Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    540 Broadway Paterson, NJ 07514

    View on Map
    Claim this Listing
    For Sale
    $1,650,000

    Lots and Land - Paterson City, NJ

    Lot size:
    0.31 Acres
    Added:
    Apr 10, 2026
    Days on Market:
    9
    Last Refresh:
    Apr 18 at 11:06 am

    Property Features for 540 Broadway

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.31 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    8370

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    NICHOLAS TSELEPIS

    Listing agent NICHOLAS TSELEPIS

    Listing office NICHOLAS REAL ESTATE AGENCY 1624 MAIN AVENUE, Clifton, NJ

    Listing date Apr 10, 2026

    MLS# 4019878 Listing URL

    Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Residential Development Opportunity in Paterson

    This shovel-ready development opportunity in Paterson is fully approved for a 28-unit residential project, which includes 46 parking spaces. A 30-year tax abatement is in place. The property is located near shopping, transportation, a hospital, schools, and houses of worship. This 0.31-acre lot is a turnkey investment for builders and developers. The property is close to highways, shopping, schools, and transportation. Taxes are on the land only. Plans and resolution are available upon request.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Food Market Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Paterson
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.1508
    Latitude
    40.91835

    Nearby Similar for Sale

    • $850,000
      5,000 SF

      Corner Warehouse with Drive-In Dock

      Versatile warehouse with drive-in dock, office, and new sprinkler.
      246 Paterson Ave, Paterson City, NJ 07502-1739
      View Details
    • $499,000
      4,368 SF

      Paterson City Commercial Building

      Two-story building with basement in high-traffic area.
      84 Ellison St, Paterson City, NJ 07505-1214
      View Details
    • $1,950,000
      5,000 SF

      Versatile Commercial Building with Gated Lot

      5000 SF commercial building on 10,000 SF lot.
      72-78 Illinois Ave, Paterson City, NJ 07503-1724
      View Details
    • $2,250,000
      14,985 SF

      Paterson City Religious Facility For Sale

      Religious facility with house and parking on 0.40 acres.
      221 Spring St, Paterson City, NJ 07503-3039
      View Details
    • $839,000
      3,692 SF

      Income-Producing 3-Family Home

      Eastside Paterson 3-family home with high ceilings and separate utilities.
      90 Park Ave, Paterson City, NJ 07501-2223
      View Details
    • $879,999
      2,772 SF

      Renovated Mixed-Use Paterson City Property

      Updated 4-unit property with apartments and storefronts in Paterson.
      615 E 22Nd St, Paterson City, NJ 07514-2842
      View Details
    • $639,000
      3,168 SF

      Mixed-Use Property in Paterson City

      Mixed-use property with residential and commercial income potential.
      331 Market St, Paterson City, NJ 07501-2247
      View Details
    • $665,000
      1,940 SF

      Updated Multi-Family Near Park

      Turnkey multi-family property with modern updates and strong rental potential.
      129 Oxford St, Paterson City, NJ 07522
      View Details
    • $595,000

      Renovated Two-Family Home

      Completely renovated two-family home with modern amenities in Paterson, NJ.
      40 York Street, Paterson, NJ 07524
      View Details
    • $525,000

      Renovated Mixed-Use Building with Bar

      Mixed-use building with bar and residential unit in Paterson.
      541 UNION AVE, Paterson, NJ 07522
      View Details
    • $825,000

      Rebuilt Three-Family Investment Property

      Rare, rebuilt 2024 three-family property with high-end finishes.
      59 Mercer St, Paterson City, NJ 07524-2466
      View Details
    • $825,000

      Rebuilt Three-Family Investment Property

      Modern three-family property with high-end finishes and excellent rental income.
      59 Mercer Street, Paterson, NJ 07524
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Approved 28-unit residential project with tax abatement and parking.
    Where is this residential land & home lot located?
    The property is located at 540 Broadway Paterson, NJ.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: Fully approved for a 28‑unit residential project with 46 parking spaces.; Valuable 30‑year tax abatement in place.; Shovel‑ready development opportunity.
    (973) 725-3778
    We can help!
    Listing Contact
    NICHOLAS TSELEPIS
    Real Estate License ID: 7821189
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!