Property profile

28-42 Geering Ln Paterson, NJ 07522

OFF-MARKET
Land
1.5 ac lot
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Property summary

AI-generated overview

This exceptional 1.5-acre commercial land parcel, located at 28-42 Ryle Ave & 21-29 Geering Lane in Paterson, New Jersey (zip code 07522), presents a unique development opportunity. Situated in Passaic County, this property boasts a significant advantage: prior approval for the construction of over 90 residential units. The lot encompasses approximately 1.56 acres (Block 801, Lots 14 and 15), offering substantial buildable space. The property's strategic location within Paterson provides access to key transportation routes and amenities, making it an attractive proposition for developers seeking a high-density residential project. The 2022 property taxes were $31,194.24. This is a rare chance to acquire a previously approved development site in a desirable New Jersey location, ready for immediate action. Detailed site plans and approvals are available upon request. This property is being offered for sale and represents a compelling investment opportunity for experienced developers. The coordinates for this property are latitude 40.9214908 and longitude -74.1781904. Serious inquiries only.

Property profile

Verified
Property type Land
Lot 1.5 ac (65,340 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

28-42 Geering Ln Paterson, NJ 07522
Paterson metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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