70 Spruce St - Warehouse FOR SALE


$10,000,000 USD
718-360-5059
70 Spruce St, Paterson, NJ for Sale
$10,000,000 USD
Warehouse - FOR SALE
1/84
null | Request Cap Rate


HIGHLIGHTS

  • PRIME LOCATION: Located near the Great Falls National Historical Park, offering tourism-driven visibility and connectivity to downtown Paterson.
  • HISTORIC SIGNIFICANCE: Features historic mill structures within a nationally designated historic district, ideal for adaptive reuse.
  • DEVELOPMENT POTENTIAL: Five acres of property suitable for mixed-use development, including residential, commercial, and cultural spaces.
  • CREATIVE INFRASTRUCTURE: Existing studio, office, and gallery spaces catering to artists and entrepreneurs, fostering a thriving creative community.
  • STRATEGIC ACCESSIBILITY: Close to major highways, public transit options, and pedestrianfriendly infrastructure as outlined in the redevelopment plan.
  • ALIGNMENT WITH REDEVELOPMENT GOALS: The property is located in the Great Falls Redevelopment Zone.

OVERVIEW

The Art Factory presents an extraordinary redevelopment opportunity within the boundaries of the Paterson Great Falls Redevelopment Area. Encompassing five acres in one of New Jersey’s most historically significant industrial districts, this property stands at the intersection of rich cultural heritage and modern revitalization. As part of the city’s broader redevelopment efforts, the site benefits from its proximity to the Great Falls National Historical Park, access to major transportation routes, and alignment with the strategic goals of adaptive reuse, sustainable design, and mixed-use development. The Art Factory’s expansive footprint, existing creative business infrastructure, and iconic industrial aesthetic make it an ideal candidate for a transformative project that can integrate residential, commercial, and cultural uses, offering significant potential for long-term growth and community impact.

FOR SALE DETAILS

PRICE

$10,000,000 USD

PRICE/SF

$63 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Art Factory

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1881

UTILITIES

Lighting - Fluorescent, Gas - Natural, Water - City, Sewer - City, Heating - Gas

CLEAR CEILING HT

13 Ft

DOCKS

9

DRIVE INS

8

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.73

LAND SF

206,039

ZONING

GFHD

APN/PARCEL ID

08-04802-0000-00022

ASK ABOUT THIS PROPERTY

Yanni MarmarouInvestment Property Realty GroupMore Info
718-360-5059

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Yanni MarmarouInvestment Property Realty GroupMore Info
718-360-5059

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.