242-244 Main St - Storefront Retail/Residential FOR SALE


Paterson, NJ 07505- Downtown Paterson
$1,359,000 USD
201-665-3114
242-244 Main St, Paterson, NJ for Sale
$1,359,000 USD
Storefront Retail/Residential - FOR SALE
1/12
null | 5.95% Cap Rate

242-244 Main St
Paterson, NJ 07505
Downtown Paterson


OVERVIEW

Solid 6 Story Mixed-use building, 1Retail, five apartments, located on Main St., the busiest street in Paterson. This building has great potential to increase income. The current rent is below the market value. Current income is $135,000. Each floor is $1800 Sqft. Huge size. You can make a 3-bed apartment on each floor. This building has true value. The potential income will exceed $200,000—section 8 in Paterson for a 3-bed $2550. Retail (Cell phone store): four (4) apartments are updated. Separated heating, the 6th floor is vacant. Full basement.

FOR SALE DETAILS

PRICE

$1,359,000 USD

PRICE/SF

$158 USD /SF

CAP RATE

5.95%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Elbow Building

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

1913

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,742 SF

ZONING

B4, Paterson City

APN/PARCEL ID

08-04501-0000-00033

ASK ABOUT THIS PROPERTY

Woo ChoiAlpine MC Realty LLCMore Info
201-665-3114

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Woo ChoiAlpine MC Realty LLCMore Info
201-665-3114

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