962 Main Ave - Apartments FOR SALE


Passaic, NJ 07055
$1,600,000 USD
201-917-5884
962 Main Ave, Passaic, NJ for Sale
$1,600,000 USD
Apartments - FOR SALE
1/25
null | 6.8% Cap Rate

962 Main Ave
Passaic, NJ 07055


HIGHLIGHTS

  • Mixed-Use Property featuring 5 Residential Units and 1 Commercial Space
  • Three Stories with Strong Income Potential
  • Triple Net Lease Structure
  • 3 On-Site Parking Spaces
  • Side-Building Banner Advertising Opportunity for Additional Revenue

OVERVIEW

This well-positioned three-story mixed-use property consists of five residential units and one commercial space, creating a balanced investment with multiple income streams. The asset benefits from a triple net lease structure, helping to minimize landlord responsibilities while supporting stable cash flow. Three on-site parking spaces provide added convenience for tenants, while a prominent side-building banner offers an additional advertising opportunity that can generate supplemental revenue. With its functional layout, diversified tenancy, and built-in income potential, this property presents an attractive opportunity for investors seeking a reliable mixed-use asset with long-term upside. 100% Leased. Rent Roll: Retail: $2,500/month Apt 1: $1,900 Apt 2: $1,705 Apt 3: $1,750 Apt 4: $1,570 Apt 5: $1,975 Billboard: $350/month over 5 years 2,500+1,900+1,705+1,750+1,570+1,975+350=11,750x 12 =$141,000

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$186 USD /SF

# OF UNITS

6

PRICE/UNIT

$266,667

CAP RATE

6.8%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

6 Units | With Parking & Advertising

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1960

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

C-R

APN/PARCEL ID

07-04103-0000-00017

ASK ABOUT THIS PROPERTY

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201-917-5884

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Bruce EliaKW Commercial Fort LeeMore Info
201-917-5884

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