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Patric Santo Pietro

[email protected] +1(732) 570-5442

Listed by Vincent Lee Realty 7, LLC

$ 1,399,000

Est. payment -/mo

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Active

242-244 Main ST Paterson, NJ 07505

UPDATED:

Key Details

Property Type Commercial Sale/Lease

Sub Type Retail

Listing Status Active

Purchase Type For Sale

MLS Listing ID 26011325

Style Retail

Property Sub-Type Retail

Property Description

Location, Location, Location! An unbeatable investment opportunity awaits the savvy investor in the absolute heart of downtown with this premier 6-level mixed-use building. The property features a high-visibility ground-floor retail space with large windows perfect for attracting maximum foot traffic, situated beneath 5 spacious residential units that provide a steady, diversified income stream. Financially optimized for low landlord oversight, all utilities are completely separate with tenants paying for their own heat, gas, and electric, while the landlord is only responsible for water. The asset currently generates a robust Net Operating Income (NOI) of $73,418 on a Gross Rental Income of $126,840, offering immediate, incredible upside potential to maximize your return since all rents feature a built-in 5% annual increase and one apartment is delivered vacant, ready for immediate market-rate rental. Sold strictly "AS-IS,"

Location

State NJ

County Passaic

Interior

Heating Electric, Gas, Hot Water

NEARBY SCHOOL & BUSINESS

Patric Santo Pietro

Agent License ID: 1007170

+1(732) 570-5442

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Patric Santo Pietro

242-244 Main ST Paterson, NJ 07505

Key Details

Location

Interior

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

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242-244 Main ST