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541 Union Ave 1,927 SF 100% Leased Retail Building Paterson, NJ 07522 $549,900 ($285.37/SF) 10.23% Cap Rate
INVESTMENT HIGHLIGHTS
- Sits at the corner of a signalized intersection.
- In close proximity to public transit stop.
EXECUTIVE SUMMARY
Totally renovated 2023 Excellent opportunity to own a mixed- use building near the center of Paterson. First floor EL CUBETAZO BAR & KARAOKE & SPORTS sale without liquor lic second floor 2BRS combo LR kit full bath central air full unfinished basement 1/2 bath. Brand new refrigeration equipment, 2 glass door back bar coolers, 1 bottle cooler and 1 ICE machine 3-compartment sink, 1 additional sink, 2 ice bins with 7 circuit boards, 1 glass rack and 1 glasswasher machine 2 soda gun system connected to the ice bin 1 additional standing freezer (apartment)Granite countertop Brand new furniture, bar stools & tables, regular chairs & tables, and leather couches Crown molding LED lighting Recessed ceiling lighting 2 JBL speakers 10 in-ceiling speaker SONOS system 13 Samsung Smart TVs Fully wired Ethernet cabling for every Smart TV HDMI wiring for every Smart TV HDMI switch HDMI splitter 1 EPSON projector plus 120' electric screen Digital LED display for front window Hardwood floor.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
1,927 SF
Building Class
B
Year Built
1950
Price
$549,900
Price Per SF
$285.37
Cap Rate
10.23%
NOI
$56,250
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.44
Lot Size
0.03 AC
Zoning
B-2 - general commercial uses
Frontage
AMENITIES
- Air Conditioning
Walk Score®
Very Walkable (89)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 08-00610-0000-00004 | Improvements Assessment | $196,800 |
| Land Assessment | $38,700 | Total Assessment | $235,500 |
PROPERTY TAXES
Parcel Number
08-00610-0000-00004
Land Assessment
$38,700
Improvements Assessment
$196,800
Total Assessment
$235,500
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541 Union Ave
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