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407 Main St 3,840 SF 100% Leased Retail Building Paterson, NJ 07501 $749,999 ($195.31/SF) 7.76% Cap Rate
Investment Highlights
- Surrounded by established retail, residential density, and public transit.
- Mixed-use configuration provides multiple revenue streams.
Executive Summary
407 Main Street is a centrally located income-producing property situated on Paterson’s primary commercial corridor. The building benefits from strong pedestrian traffic, direct street frontage, and proximity to municipal offices, retail, public transportation, and major roadways. The property features ground-floor commercial space suitable for retail or service use, with residential units above (buyer to verify unit count and layout). This configuration offers diversified income potential and flexibility for both investors and owner-users.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
3,840 SF
Building Class
C
Year Built/Renovated
1930/2017
Price
$749,999
Price Per SF
$195.31
Cap Rate
7.76%
NOI
$58,200
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.47
Lot Size
0.06 AC
Zoning
B-2 - Commercial / Mixed-Use (buyer to independently confirm permitted uses and zoning compliance).
Frontage
25’ on Main St
Amenities
- Smoke Detector
Walk Score®
Walker's Paradise (95)
Nearby Major Retailers
Property Taxes
| Parcel Number | 08-06101-0000-00020 | Improvements Assessment | $193,300 |
| Land Assessment | $77,500 | Total Assessment | $270,800 |
Property Taxes
Parcel Number
08-06101-0000-00020
Land Assessment
$77,500
Improvements Assessment
$193,300
Total Assessment
$270,800
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407 Main St
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