Log In/Sign Up
Your email has been sent.
Elbow Building 242-244 Main St 8,606 SF 100% Leased Retail Building Paterson, NJ 07505 $1,359,000 ($157.91/SF) 5.02% Cap Rate
EXECUTIVE SUMMARY
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 $119,400. 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.
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.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
8,606 SF
Building Class
C
Year Built
1913
Price
$1,359,000
Price Per SF
$157.91
Cap Rate
5.02%
NOI
$68,200
Percent Leased
100%
Tenancy
Multiple
Building Height
6 Stories
Building FAR
4.94
Lot Size
0.04 AC
Opportunity Zone
Yes
Zoning
B4, Paterson City
Frontage
31’ on Main St
Walk Score®
Walker's Paradise (99)
NEARBY MAJOR RETAILERS
1 of 2
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Elbow Building | 242-244 Main St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.