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Elbow Building 242-244 Main St 8,606 SF 100% Leased Retail Building Paterson, NJ 07505 $1,359,000 ($157.91/SF) 5.95% Cap Rate
Executive Summary
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.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$135,000
|
$15.69
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$135,000
|
$15.69
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$54,180
|
$6.30
|
| Net Operating Income |
$80,820
|
$9.39
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $135,000 |
| Annual Per SF | $15.69 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $135,000 |
| Annual Per SF | $15.69 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $54,180 |
| Annual Per SF | $6.30 |
| Net Operating Income | |
|---|---|
| Annual | $80,820 |
| Annual Per SF | $9.39 |
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 1 SF
- $37.00
- Modified Gross
- -
Founded in 1999, Cricket Wireless operates as a prepaid wireless telecommunications provider in the United States. Originally established by Leap Wireless, the brand focused on no-contract mobile services designed for cost-conscious consumers. In 2014, Cricket Wireless became a wholly owned subsidiary of AT&T following AT&T’s acquisition of Leap Wireless. The acquisition integrated Cricket into AT&T’s national network infrastructure while maintaining Cricket as a distinct prepaid brand. Cricket provides voice, text, and data services using AT&T’s wireless network, including access to 4G LTE and 5G coverage where available. The company distributes services through company-operated and authorized retail locations, as well as online channels. Over time, Cricket expanded from its initial regional footprint to a nationwide presence supporting consumer prepaid plans and device offerings.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 1 SF | $37.00 | Modified Gross | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 08-04501-0000-00033 | Improvements Assessment | $631,400 |
| Land Assessment | $96,300 | Total Assessment | $727,700 |
Property Taxes
Presented by
Elbow Building | 242-244 Main St
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