Specialty Use Religious Campus Passaic

Lee & Associates is pleased to exclusively list for sale a Religious Campus located in Passaic, (Passaic County) New Jersey. The subject properties sit on a 38,525 SF lot (.88 acres) and the existing building SF is 19,085. The parcel(s) consist of a church/parsonage building, a school/event hall with a 5,500 SF auditorium, as well as 10 classrooms and more learning spaces in the basement. Situated along the Passaic River and directly adjacent to North Pulaski Park, the buildings have been meticulously cared for with all utilities and mechanical systems being upgraded within the past 10 years. The properties sit within a Qualified Opportunity Zone allowing investors & QOZ funds to defer capital gains by making improvements above the acquisition basis. The property is located in the heart of Passaic, right off of Route 21 and a straight shot, within walking distance, to the downtown area of Passaic which is currently undergoing major renovation. The population within a 3-mile radius of this property is 289,641 and is estimated to increase 2.34% within the next few years. Additionally, there are many existing public transportation hubs in town providing it’s residents an opportunity to take advantage of more metro areas while paying more reasonable rents.