Two-Story Retail
For Sale
$479,000
105 Main St, Paterson, NJ 07505
Vacant two-store retail space in downtown Paterson with walkable access and good transit connectivity.
Property Size1,102 SF
Days on Market63
Property Features for 105 Main St
General Information
Standard status
Active
Size
1,102 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$19,542
Building Details
Building Size
1,102 SF
Year Built
1949
Stories
2
Units
1
Listing Agency:
LEOPIZZI REAL ESTATE AGENCY
(973) 684-7171
Listed By:
CHRISTOPHER LEOPIZZI
Source:
Elliman
Added: Jun 10
Changed: Aug 8
Last Checked: Jul 16 at 6:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LEOPIZZI REAL ESTATE AGENCY
Investment Insights
Based on property information with market context.
This is a vacant two-store retail property configured for retail use, offering a straightforward setup for businesses that benefit from a street-facing presence. The asset is presented as two retail levels, providing flexibility for operations that need both customer-facing and back-of-house space within the same building.
The property is located on Main St in downtown Paterson. The surrounding area is described as very walkable, with good transit access and bikeability (Walk Score 82, Transit Score 61, Bike Score 52), supporting foot traffic and convenient reach for customers.
Because the space is currently vacant and designed as retail, it may fit a range of neighborhood and commuter-oriented concepts looking for an established retail address in a high-activity downtown setting. Prospective tenants or buyers should verify all intended use requirements directly, including any permitting needs and compliance items prior to occupancy.
The property is located on Main St in downtown Paterson. The surrounding area is described as very walkable, with good transit access and bikeability (Walk Score 82, Transit Score 61, Bike Score 52), supporting foot traffic and convenient reach for customers.
Because the space is currently vacant and designed as retail, it may fit a range of neighborhood and commuter-oriented concepts looking for an established retail address in a high-activity downtown setting. Prospective tenants or buyers should verify all intended use requirements directly, including any permitting needs and compliance items prior to occupancy.
Key Highlights
- 2‑story retail space (currently vacant) in downtown Paterson
- Year built: 1949
- Walk Score: 82 (very walkable)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,729
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$314,580
$314.6K
Cap Rate 7%
$224,700
$224.7K
Cap Rate 9%
$174,767
$174.8K
Market Conditions
NOI Build-Up for 1,102 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$23.8K $21.60/SF
− Vacancy
−$1.3K −$1.21/SF
EGI
$22.5K $20.39/SF
− OpEx
−$6.7K −$6.12/SF
NOI
$15.7K $14.27/SF
Area
Paterson, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$314,580
Cap Rate 7%
$224,700
Cap Rate 9%
$174,767
Alternative Uses
Best Use
Retail
$224.7K
$196.6K – $262.2K
NOI $15,729 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$287.8K
$251.8K – $335.7K
NOI $20,143 @ 7.0% cap · market cap 4.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,442
Businesses Nearby
155k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 30%
Groceries 7%
Apparel 6%
Wendy's
Dining
26,654 visits/mo
0.2 miles
Dollar Tree
Shops & Services
17,775 visits/mo
0.2 miles
Checkers
Dining
13,508 visits/mo
0.3 miles
Burger King
Dining
12,988 visits/mo
0.5 miles
Golden Mango
Groceries
11,388 visits/mo
0.3 miles
Demographics for 07505, NJ
3,215
Population
1,692
Households
1.9
Avg Household Size
38
Median Age
12%
College-Educated
71%
High-School Grad
0.2 sq mi
ZIP Area
16,075
Density / Sq Mi
$33,311
Median Household Income
$33,520
Median Earnings
$1,113
Median Rent
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Vacant two-store retail space in downtown Paterson with walkable access and good transit connectivity.
Where is this storefront property located?
The property is located at 105 Main St Paterson, NJ.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: 2‑story retail space (currently vacant) in downtown Paterson; Year built: 1949; Walk Score: 82 (very walkable)
