205 61st Bwy West New York, NJ 07093
Note 3(A). Existing neighborhood-type commercial establishments shall be permitted in the R-M District as a principle use, provided that: (a) Such commercial establishments existed at the time of the passage of this chapter. (b) Such retail stores, service, eating and drinking, commercial entertainment and minor repair establishments or other existing commer…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
R-M · West New York, NJNote 3(A). Existing neighborhood-type commercial establishments shall be permitted in the R-M District as a principle use, provided that: (a) Such commercial establishments existed at the time of the passage of this chapter. (b) Such retail stores, service, eating and drinking, commercial entertainment and minor repair establishments or other existing commercial uses are of a neighborhood type, i.e., daily needs establishments intended to serve the residents of a neighborhood, and are compatible with the residential uses and character of the neighborhood in which they are located. (2) Note 3(B). A change of use from an existing or former neighborhood-type commercial establishment which establishment conformed to the provisions of Subsection C(1)(a) above to another neighborhood-type commercial establishment shall be permitted, provided that such retail stores, service, eating and drinking, commercial entertainment, and minor repair establishments are of a neighborhood type, i.e., daily needs establishments intended to serve the residents of a neighborhood, and are compatible with residential uses and the character of the neighborhood in which they are located. D. Note 4: Customary home occupations shall be permitted as an accessory use, provided that: (1) The home occupation is carried on entirely within the principal structure only by the inhabitants thereof, who shall not exceed two persons. (2) The home occupation is incidental and secondary to the residential use of the structure and does not use more than 30% of the total floor area of the dwelling unit in which it is contained. (3) No special mechanical equipment shall be used for the home occupations other than the equipment customarily found in a dwelling unit. (4) No display of goods or signs identifying such occupation shall be permitted. (5) Said home occupation will not generate truck delivery or pickup activities as a general part of the operation. E. Note 5: Professional offices shall be permitted, provided that: (1) Said office is for the practice of a professional in the field of medicine, dentistry, architecture, engineering, law, accounting or similar occupations requiring licensing or for an artist, musician, instructor in arts and crafts or similar professional. (2) Said accessory office use shall not exceed 50% of the total floor area of the residence in which it is located. (3) There shall be not more than one identification sign for each such professional office and said sign shall be limited in area to one square foot. F.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.