Log In/Sign Up
Your email has been sent.
The Art Factory 70 Spruce St 230,922 SF 100% Leased Industrial Building Paterson, NJ 07501 $10,000,000 ($43.30/SF)
INVESTMENT HIGHLIGHTS
- PRIME LOCATION: Located near the Great Falls National Historical Park, offering tourism-driven visibility and connectivity to downtown Paterson.
- DEVELOPMENT POTENTIAL: Five acres of property suitable for mixed-use development, including residential, commercial, and cultural spaces.
- STRATEGIC ACCESSIBILITY: Close to major highways, public transit options, and pedestrianfriendly infrastructure as outlined in the redevelopment plan.
- HISTORIC SIGNIFICANCE: Features historic mill structures within a nationally designated historic district, ideal for adaptive reuse.
- CREATIVE INFRASTRUCTURE: Existing studio, office, and gallery spaces catering to artists and entrepreneurs, fostering a thriving creative community.
- ALIGNMENT WITH REDEVELOPMENT GOALS: The property is located in the Great Falls Redevelopment Zone.
EXECUTIVE SUMMARY
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.
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.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Price | $10,000,000 | Rentable Building Area | 230,922 SF |
| Price Per SF | $43.30 | No. Stories | 4 |
| Sale Type | Investment | Year Built | 1881 |
| Property Type | Industrial | Clear Ceiling Height | 13’ |
| Property Subtype | Warehouse | No. Dock-High Doors/Loading | 9 |
| Building Class | B | No. Drive In / Grade-Level Doors | 8 |
| Lot Size | 4.73 AC | ||
| Zoning | GFHD | ||
| Price | $10,000,000 |
| Price Per SF | $43.30 |
| Sale Type | Investment |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 4.73 AC |
| Rentable Building Area | 230,922 SF |
| No. Stories | 4 |
| Year Built | 1881 |
| Clear Ceiling Height | 13’ |
| No. Dock-High Doors/Loading | 9 |
| No. Drive In / Grade-Level Doors | 8 |
| Zoning | GFHD |
AMENITIES
- 24 Hour Access
UTILITIES
- Lighting - Fluorescent
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
1 1
Walk Score®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 08-04802-0000-00022 | Total Assessment | $4,409,200 (2025) |
| Land Assessment | $2,665,900 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,743,300 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
08-04802-0000-00022
Land Assessment
$2,665,900 (2025)
Improvements Assessment
$1,743,300 (2025)
Total Assessment
$4,409,200 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
1 of 85
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
The Art Factory | 70 Spruce St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.