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Prime 8-Unit Mixed-Use Investment in Passaic 898 Main Ave 6,921 SF 100% Leased Retail Building Passaic, NJ 07055 $1,990,000 ($287.53/SF) 6.40% Cap Rate
Investment Highlights
- 8-Unit Mixed-Use Property with 7 Apartments + 1 Retail Unit
- C-R Zoning supporting mixed commercial and residential use
- Dense Surrounding Population with over 67,000 residents within 1 mile
- 6,794 SF Building on a 3,960 SF Lot
- Prime Main Avenue Frontage with strong visibility
- Established Passaic Retail Corridor surrounded by retailers, restaurants, and neighborhood amenities
Executive Summary
898 Main Ave in Passaic, NJ is a well-positioned mixed-use property offering a diversified combination of residential and commercial space along one of the city’s primary corridors. The property consists of 8 total units, including 7 residential apartments and 1 ground-floor retail unit, within a 6,794 SF building situated on a 3,960 SF lot. The asset benefits from C-R zoning, prominent Main Avenue frontage, and strong visibility in a densely populated urban market. Its location places it near a wide range of neighborhood businesses, national retailers, restaurants, and everyday services, helping support both residential demand and commercial activity. With an established mixed-use configuration, multiple income-producing components, and a central Passaic location, the property offers investors the opportunity to acquire a substantial asset in a highly active residential and retail environment.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
6,921 SF
Building Class
C
Year Built
1960
Price
$1,990,000
Price Per SF
$287.53
Cap Rate
6.40%
NOI
$127,360
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.75
Lot Size
0.09 AC
Zoning
C-R, Passaic City.
Frontage
36’ on Main Ave
Exceptionally walkable
100/100
Moderately drivable
70/100
Good public transit
60/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 07-04106-01-00016 | Improvements Assessment | $259,100 |
| Land Assessment | $188,200 | Total Assessment | $447,300 |
Property Taxes
Parcel Number
07-04106-01-00016
Land Assessment
$188,200
Improvements Assessment
$259,100
Total Assessment
$447,300
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