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Commercial Sale For Sale

242-244 Main Street, Paterson, NJ 07505

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Property Description

Location, Location, Location! An unbeatable investment opportunity awaits the savvy investor in the absolute heart of downtown with this premier 6-level mixed-use building. The property features a high-visibility ground-floor retail space with large windows perfect for attracting maximum foot traffic, situated beneath 5 spacious residential units that provide a steady, diversified income stream. Financially optimized for low landlord oversight, all utilities are completely separate with tenants paying for their own heat, gas, and electric, while the landlord is only responsible for water. The asset currently generates a robust Net Operating Income (NOI) of $73,418 on a Gross Rental Income of $126,840, offering immediate, incredible upside potential to maximize your return since all rents feature a built-in 5% annual increase and one apartment is delivered vacant, ready for immediate market-rate rental. Sold strictly “AS-IS,”

Basic Details
Property Type:
Commercial Sale
Listing Type:
For Sale
Listing ID:
26011325
Price:
$1,399,000
Status:
Active
Office Name:
Realty 7, LLC
Agent Name:
Vincent
Features
Architectural Style:
Retail
Utilities:
Sep Elec, Sep Gas, Seperate Heat
Address Map
Country:
US
State:
NJ
County:
PASSAIC
City:
Paterson
Zipcode:
07505
Street:
Main
Street Number:
242-244
Street Suffix:
Street
Longitude:
W75° 49' 34.7''
Latitude:
N40° 54' 57.6''
Additional Information
On Market Date:
2026-04-05
Financial
Tax Annual Amount:
38822
Listing Information
List Agent Mls Id:
1001750
List Office Mls Id:
1777
Mls Status:
Active
Modification Timestamp:
2026-06-11T20:23:30Z
Originating System Name:
njmls
Status Change Timestamp:
2026-04-23
Commercial Sale For Sale
Listing ID:
26011325
$1,399,000
Agent info
Contact Agent

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Address: 637 Wyckoff Ave, 2nd Floor, Office 1
Wyckoff, NJ 07481
Phone: 201-891-8200
Email: info@myrealestatemission.com