453 Straight St Paterson, NJ 07501
J. I‐1 Light Industrial District: The intent of the I‐1 Light Industrial District is to provide for a wide variety of light manufacturing, fabricating, processing, wholesale, distribution and warehousing uses in a setting conducive to public health, economic stability and growth, and protection from blight and nonindustrial encroachment. The regulations are…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
I-1 · Paterson, NJJ. I‐1 Light Industrial District: The intent of the I‐1 Light Industrial District is to provide for a wide variety of light manufacturing, fabricating, processing, wholesale, distribution and warehousing uses in a setting conducive to public health, economic stability and growth, and protection from blight and nonindustrial encroachment. The regulations are designed to permit operations in a clean and quiet manner and to protect adjacent district uses and industries within the district. Further development of residences is prohibited in this district to protect homes from the adverse effects of industries and to conserve the supply of industrial land for industrial uses. Further, in order to avoid bringing the general public into the district, to protect commercial establishments from the adverse effects of industry and to conserve the supply of land for industrial uses, most commercial uses are prohibited from the I‐1 District. K. I‐2 Heavy Industrial District: The intent of the I‐2 Heavy Industrial District is to provide land for more intense types of industrial and manufacturing uses excluding those with nuisance characteristics. While the mapping of this district unavoidably includes some residential buildings, future construction of dwellings in such districts is prohibited in order to protect homes from the adverse effects of industries and to conserve the supply of industrial land for industrial uses. Further, in order to avoid bringing the general public into the district and in order to protect commercial establishments from the adverse effects of industry, most commercial uses are prohibited from the I‐2 District. L. GFHD Great Fall Historic District: The intent of the GFHD Great Falls Historic District is to safeguard the heritage and history of the City of Paterson by preserving the cultural, social, economic, and architectural elements of this historic area of the City; to maintain and develop an appropriate and harmonious setting for the architecturally and historically significant buildings, structures and places in the City; to improve property values and strengthen the City's economy; to foster civic beauty and appreciation for the City's heritage; and to promote the use of historically and architecturally significant sites primarily for the education, pleasure and general enhancement of the citizens of Paterson and its visitors. The District was created to stop the demolition of the historic mill buildings in the area and to highlight elements of Paterson's industrial past and encourage rehabilitation.
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.