Approved 28-Unit Residential Development
For Sale
$1,650,000
540 Broadway, Paterson, NJ 07514
Land is shovel-ready with full approvals for a 28-unit residential project and 46 parking spaces, including a 30-year tax abatement.
Property SizeContact for details
Days on Market41
Property Features for 540 Broadway
General Information
Standard status
Active
Total Parking Spaces
46
Property subtype
Lots And Land
Additional Details
Multifamily Units
28
Taxes and HOA fees
Annual Taxes
$8,370
Listing Agency:
(973) 634-8853
Listed By:
Nicholas Real Estate
(973) 634-8853
Source:
Nicholasrealestate.idxbroker
Added: Jun 30
Changed: Aug 8
Last Checked: Jul 1 at 12:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Nicholas Real Estate
Investment Insights
Based on property information with market context.
This shovel-ready development site is fully approved for a 28-unit residential project, with plans calling for 46 parking spaces. The offering includes a 30-year tax abatement in place. Taxes are stated to be on the land only, with plans and the resolution available upon request.
Located at 540 Broadway in Paterson, NJ 07514, the property is described as being near major shopping, transportation, a hospital, schools, and houses of worship. It is also noted as being close to highways.
For builders and developers looking to move directly into the development process, the combination of full approvals, shovel-ready status, and the existing tax abatement may simplify early project planning and reduce time to proceed. The land-only tax structure and availability of supporting documentation upon request can also help streamline underwriting and due diligence.
Located at 540 Broadway in Paterson, NJ 07514, the property is described as being near major shopping, transportation, a hospital, schools, and houses of worship. It is also noted as being close to highways.
For builders and developers looking to move directly into the development process, the combination of full approvals, shovel-ready status, and the existing tax abatement may simplify early project planning and reduce time to proceed. The land-only tax structure and availability of supporting documentation upon request can also help streamline underwriting and due diligence.
Key Highlights
- Fully approved, shovel‑ready land for a 28‑unit residential development in Paterson
- Approved site plan includes 46 parking spaces for the 28‑unit project
- 30‑year tax abatement is in place for the approved development
Property Analytics
Property Profile
Current Use
Lease Details
28
Residential units
Location Intelligence
Trade Area within ½ mile
2,208
Businesses Nearby
Explore this area
Business Placement
Demographics for 07514, NJ
19,200
Population
6,752
Households
2.8
Avg Household Size
37
Median Age
12%
College-Educated
78%
High-School Grad
0.9 sq mi
ZIP Area
21,333
Density / Sq Mi
$65,492
Median Household Income
$34,962
Median Earnings
$1,472
Median Rent
$314,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Land is shovel-ready with full approvals for a 28-unit residential project and 46 parking spaces, including a 30-year tax abatement.
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, shovel‑ready land for a 28‑unit residential development in Paterson; Approved site plan includes 46 parking spaces for the 28‑unit project; 30‑year tax abatement is in place for the approved development
