140 Shepherds Ln Totowa, NJ 07512
- Retirement homes
- 160,275 SF
- 7.16 lot acres
Current Use by Public Records
- Retirement homes
Property Details for 140 Shepherds Ln
- Year built
- 1975
- Lot size
- 7.16 lot acres
- Property size
- 160,275 SF
- Property type
- Retirement homes
Description
This exceptional 160,275 square foot property in Totowa, New Jersey, presents a unique investment opportunity. Originally a 102-unit senior living community, the four-story building, constructed in 1975 and renovated in 1983, sits on a 7.16-acre lot and offers ample parking with 120 spaces. Its R-40 zoning allows for versatile redevelopment options, including adaptive reuse as multifamily housing for either the free market or tax credit programs, or continued use as senior housing. The property boasts a well-maintained structure with three elegantly designed wings, maximizing natural light. Multiple mature green spaces and gardens enhance the site's appeal. Located in Passaic County, the property benefits from easy access to major highways and public transportation, making it highly attractive to residents. The strong economic environment of Totowa and the growing demand for senior care and residential housing in the metropolitan area create a compelling investment case. This property offers significant potential for substantial returns, whether through continued operation as senior housing or conversion to multifamily units. The existing infrastructure minimizes initial costs for a new owner, making this a truly exceptional opportunity.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Totowa
- County
- Passaic
- State
- New Jersey
- Longitude
- -74.2064682
- Latitude
- 40.9156011
