Mixed Use Property: Commercial and Residential
So what is a mixed use property and is it for you?
According to Wikipedia, mixed-use development is the practice of allowing more than one type of use in a building or set of buildings. In planning zone terms, this can mean some combination of residential, commercial, industrial, office, institutional, or other land uses.
In simple terms, it’s a property that is zoned and can legally be used for residential and business purposes allowing you to live and work in your own home!
Ok, who would buy this property is a little trickier to answer!
This space is perfect for someone looking to either start and or downsize their existing business. Typically, this situation is ideal for the sole practitioner such as an accountant, doctor, dentist, lawyer, masseuse, fortune teller or hairstylist just to name a few.
Every property has a buyer. You just need to know where to look.
Tired of waiting for the buyer to come to you …ME TOO!
Call me immediately at 201-427-1032 and let Sean T Shallis of Weichert Realtors and the Shallis Group find your next buyer!
Great Towns on New Jersey’s MIDTOWN DIRECT Train Line: Sean Shallis interviewed on WPIX (video)
As promised here is the video of Sean interviewed this morning on WPIX discussing the criteria parents can use to select where to live in New Jersey.
…and here are those reports that were discussed in the news segment, showing School Budget cuts, and graphs that map Real Estate Taxes vs SAT Scores.
- Union County Real Estate Tax vs School Performance Mashup
- Hudson County Real Estate Tax vs School Performance Mashup
- Morris County Real Estate Tax vs School Performance Mashup
- Essex County Real Estate Tax vs School Performance Mashup
Sean T Shallis Featured on WPIX TV
Sean Shallis will appear on WPIX TV at 8:30am Eastern time on Friday to discuss School Scores and Real Estate choices in New Jersey.
- Union County Real Estate Tax vs School Performance Mashup
- Hudson County Real Estate Tax vs School Performance Mashup
- Morris County Real Estate Tax vs School Performance Mashup
- Essex County Real Estate Tax vs School Performance Mashup
Whether you’re considering buying or selling, we can help. Send me an email or call me immediately at 201-988-1393 for a personal and confidential conversation.
The Morris County Real Estate Tax vs School Performance Mashup
If you’re moving to Morris County for the first time and wondering which city is right for you, there is more to consider besides home values especially if you have a family. After you explore the local resources, culture and transportation options available in the different areas of Morris County, knowing each city’s property tax rate versus local school performance can be the deciding factor in which neighborhood is right for you. It may come as a surprise to know that the city with the highest property tax does not always have the high school with the highest SAT score.
- East Hanover – Tax: $3002 SAT: 1632
- Chatham TWP – Tax: $3565 SAT: 1763
- Madison – Tax: $3,653 SAT: 1730
- Morris – Tax: $3613 SAT: 1617
- Montville – Tax: $4181 SAT: 1683
Above Average
*Please see the formula used below to calculate the tax amount.
What Our Research Shows
Again, as we’ve seen with Union and Essex counties, the town with the highest property taxes such as Mount Olive ($5792) has one of the lowest SAT scores at 1574 from the local high school (Mount Olive High). The highest SAT score in the county comes from The Academy for Math, Science and Engineering in Rockaway with a score of 2077 and an average estimated property tax of $4752.
2010 Morris County Education Budget Cuts
How is your town going to be affected by the cuts to Education? Take a look below at each town in alphabetical order:
- Boonton Town -70.9%
- Boonton TWP -81.7%
- Butler Boro -39.8%
- Chester TWP -70.1%
- Denville TWP -74.8%
- Dover Town -08.6%
- East Hanover TWP -84.3%
- Florham Park Boro -94.3%
- Hanover Park Regional -100.0%
- Hanover TWP -83.6%
- Harding TWP -100.0%
- Jefferson TWP -15.9%
- Kinnelon Boro -74.3%
- Lincoln Park Boro -46.7%
- Long Hill TWP -74.3%
- Madison Boro -100%
- Mendham Boro -100%
- Mendham TWP -99.7%
- Mine Hill TWP -16.5%
- Montville TWP -99.0%
- Morris County Voc -51.4%
- Morris Hills Regional -39.2%
- Morris Plains Boro -80.2%
- Morris School District -56.4%
- Mount Arlington Boro -64.0%
- Mount Olive TWP -22.3%
- Mountain Lakes Boro -100%
- Netcong Boro -18%
- Parsippany-Troy Hills TWP -85.4%
- Pequannock TWP -60.7%
- Randolph TWP -26.1%
- Riverdale Boro -83.2%
- Rockaway Boro -58.1%
- Rockaway TWP -62.5%
- Roxbury TWP -22.4%
- Sch Dist of the Chathams -86.3%
- Washington TWP -23.2%
- West Morris Regional -42.2
- Wharton Boro -9.0%
District Change in Aid
(more news on the NJ Education Budget Cuts)
What do you take away from this information?
Obviously there has been a tremendous amount of media coverage, interest, comments as well as concern on this subject… What is your opinion? We’d like to know. Please share your thoughts and comments below. This is your opportunity to be your town’s local spokesperson!
To search for available properties in these cities, please visit our Morris County Property Search page.
Send me an email or call me immediately at 201-988-1393 for a personal and confidential conversation. Whether you’re considering buying or selling, we can help.
Footnotes
1. SAT scores are not the only student performance indicator. For more information, including state test scores (High School Proficiency Assessment results) for each high school, please visit NJ Department of Education.
2. *Calculation used to determine an average tax amount: average assessed home value of $250,000 x general tax rate x ratio. Data from State of NJ Treasury.
3. SAT scores are based on a total score of 600-2400. The SAT test consists of three categories: math, verbal and essay with a possible score of 600 points for each category to give a possible total score of 2400.
4. The high school with the highest total SAT score for each town was used in the graph. In some cases, the highest score is a vocational school.
![Regional Map [NJTransit]](http://www.njtransit.com/images/hb_final_1031.gif){kind=link}