140 Shepherds Ln, Totowa, NJ 07512

Nestled in the thriving community of Totowa, New Jersey, a remarkable 160,000+ square foot property awaits your visionary touch. Previously operated as a skilled nursing facility, this versatile asset is equipped with comprehensive infrastructure suitable for healthcare use, ensuring a seamless transition and minimizing initial costs for a new owner. The property also presents a solid foundation for residential redevelopment for either the free market or tax credit developer, presenting an unparalleled opportunity for either an operator or developer. Fueled by an aging national population as well as population growth and urbanization, there is a surge in demand in the Metropolitan area for elder care facilities and residential rental housing. This property is perfectly positioned to capitalize on either of these trends, offering a competitive edge in a market with limited comparable properties. The stable economic environment of Totowa and its surrounding areas provides a secure foundation for your investment. Positioned in a prime location, this property has easy access to major highways and public transportation, making it an attractive location for future residents. The property is poised to become a cornerstone of modern urban living offering an enviable lifestyle for both assisted living and/or nursing home or multi-family housing residents. In either scenario, you can embrace this opportunity and seize this chance to shape of future of this property and secure substantial returns. A 102-unit former senior housing community built & operated by The Little Sisters Of The Poor, the existing building lays out elegantly in three wings, offering abundant sunlight to all areas of the building. Ideal for adaptive reuse as a multifamily retrofit for either free market or tax credit redevelopment, in addition to senior housing. Multiple mature green spaces/gardens on site.