Plot No 6 Paterson, NJ 07514
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…
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
I-2 · Paterson, NJK. 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. The Great Falls Historic District still has numerous attractive mill buildings that could be converted to market rate housing that attract a variety of City of Paterson, Zoning Ordinance Chapter 500 Zoning 139 income groups to the area special emphasis should be made for market rate housing in this area (in addition to existing income‐regulated housing). In addition, the District encourages restaurants, stores and other uses and attractions that highlight the natural resource of the Great Falls, the architectural and historic character of the area and that encourage more tourism and activity in the area. Specific design requirements are intended to preserve the architectural integrity of the buildings and layout. M. H‐1 Hospital Zone‐1: The H‐1 Hospital Zone‐1 is specifically designed to meet the needs of the hospital for future expansion.
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.