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Listed with Vincent Lee | 201-647-9964, Realty 7, LLC
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Prime Investment Opportunity in the Heart of Downtown Paterson! This massive, six-story mixed-use building is perfectly situated on Main Street, the city’s busiest thoroughfare, offering unbeatable visibility and high foot traffic. The property features a prime ground-floor retail space (currently a mobile store) and five expansive residential units, each boasting approximately 1,800 sq. ft. of living space. With a current income of $119,400 and significant rental upside, this asset is a true "value-add" play; by converting units into 3-bedroom apartmentsâ€"commanding up to $2,550 under Section 8â€"the potential gross income exceeds $200,000. Four apartments and the retail space have been updated, and the sixth floor remains vacant, ready for immediate optimization. The building is equipped with separate utilities (tenants pay heat, gas, and electric), a full basement for storage, and solid mechanicals. Don't miss the chance to acquire a high-yield asset in a premier location with exceptional growth potential.
Property Type(s):
Commercial
| Last Updated | 4/5/2026 | Year Built | 0 |
|---|---|---|---|
| County | PASSAIC |
Additional Details
| AIR | Central Air, Electric, Gas |
|---|---|
| AIR CONDITIONING | Yes |
| HEAT | Electric, Hot Water, Natural Gas |
| TAXES | 38822 |
Location
The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Coldwell Banker Real Estate are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.
All information deemed reliable but not guaranteed. Last date updated: 4/5/26 7:21 PM PDT Source: New Jersey Multiple Listing, Inc.
© 2026 New Jersey Multiple Listing Service Inc. All rights reserved.
This IDX solution is (c) Diverse Solutions 2026.
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