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615 E 22nd St 2,772 SF 100% Leased Retail Building Paterson, NJ 07514 $879,999 ($317.46/SF) 6.81% Cap Rate

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Investment Highlights

  • Great Ceiling Height
  • Commerical Opportunity
  • Income Potential

Executive Summary

Welcome to an incredible opportunity in the East Side Section of Paterson! This spacious and beautifully renovated 4-Unit Mixed-use property is perfect for both investors and owner occupants looking to maximize value and versatility. This fully updated building features two residential apartments and two storefronts, offering the ideal blend of cash flow potential and modern living. The first apartment boasts 4 bedrooms and 1.5 bathrooms with a bright and functional layout designed for comfort. The second apartment offers 2 bedrooms and 1 bathroom with impressive ceiling height that creates an open, airy feel throughout the space. Both units showcase stylish finishes and thoughtful updates that make them truly move in ready. In addition to the residential units, the property includes two ground level storefronts with flexible layouts, providing endless possibilities for business owners or strong rental income potential for investors. Conveniently located near schools, shopping, major highways, and public transportation, this property offers both accessibility and long term upside. Whether you are looking to expand your portfolio or own a mixed use building with multiple income streams, this is a rare opportunity you do not want to miss.

Financial Summary (Pro Forma - 2026)

Annual Annual Per SF
Gross Rental Income $94,800 $34.20
Other Income - -
Vacancy Loss - -
Effective Gross Income $94,800 $34.20
Taxes $18,320 $6.61
Operating Expenses $15,184 $5.48
Total Expenses $33,504 $12.09
Net Operating Income $61,296 $22.11

Financial Summary (Pro Forma - 2026)

Gross Rental Income
Annual $94,800
Annual Per SF $34.20
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $94,800
Annual Per SF $34.20
Taxes
Annual $18,320
Annual Per SF $6.61
Operating Expenses
Annual $15,184
Annual Per SF $5.48
Total Expenses
Annual $33,504
Annual Per SF $12.09
Net Operating Income
Annual $61,296
Annual Per SF $22.11

Property Facts

Sale Type
Investment
Property Type
Retail
Building Size
2,772 SF
Year Built/Renovated
1900/2025
Price
$879,999
Price Per SF
$317.46
Cap Rate
6.81%
NOI
$59,928
Percent Leased
100%
Building Height
2 Stories
Building FAR
2.12
Lot Size
0.03 AC
Zoning
R-2
Walk Score®
Very Walkable (84)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

CTown
Key Food
Bank of America
PNC Bank
Bravo Supermarkets
Noches De Colombia
TD Bank
The YMCA
Planet Fitness
Checkers
  • Listing ID: 39672310

  • Date on Market: 3/5/2026

  • Last Updated:

  • Address: 615 E 22nd St, Paterson, NJ 07514

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