- For Sale Subject To Offer
- Property Type Industrial - Warehouse/Distribution
- Property Size 108,912 SF
- Lot Size 1.9 Acre
- Date Updated May 12, 2026
- HVAC None
Description
468 Totowa is just steps from major cultural and recreational landmarks including Hinchliffe Stadium, Paterson Great Falls National Historical Park, and the newly completed Vista Park. The property also sits minutes from Westside Park and the historic Great Falls mill district, placing it at the center of one of the city's most significant redevelopment corridors.The subject property is located in Paterson's historic First Ward, with plans approved by the city of Paterson to redevelop the asset into a 126-unit mixed-use building. The property is an existing 108,000 square foot mill building on a 200' by 215' lot. Plans include a 42,756 SF buildable extension, including 6,700 sf of retail space and 138 parking spaces. The plans include the removal of single story structures to make expand the parking area.
The building's prior use is industrial, allowing potential conversion/rehabilitation to industrial warehousing for tenants.
Highlights
- Financial funding may be eligible from the New Jersey Housing and Mortgage Finance Agency, Historic Tax Credits, Low Income Housing Tax Credits, New Jersey Economic Development Authority and Aspire Tax Credits
- Plans approved by the city of Paterson for the redevelopment and conversion to a 127-unit mixed-use building.
- The property presents a fantastic opportunity for a developer to invest in one of Paterson’s most historic and revitalized neighborhoods.
- The site is located within a Qualified Opportunity Zone, giving investors the ability to defer capital gains.
- Very favorable 30-year Garden State Growth Zone PILOT fully negotiated
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Contacts
Yanni Marmarou
IPRG NJ
Location
Located at 468 Totowa Ave, Paterson, NJ 07522, this property is part of the Totowa neighborhood and New Jersey market.
Contact Listing Broker
Yanni Marmarou
IPRG NJ
