Two-Unit Mixed-Use
For Sale
$419,000
117 S Pavilion Ave, Riverside, NJ
Turnkey residential unit with private entrance and parking, plus a leased storefront space with rear flex rooms.
Property Size2,500 SF
Price / SF$167.60
Days on Market126
Property Features for 117 S Pavilion Ave
General Information
Standard status
Active
Size
2,500 SF
Total Parking Spaces
1
Property subtype
Residential Income
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$5,633
Listing Agency:
Keller Williams Realty
(856) 321-1212
Listed By:
Tracy H Nguyen
(856) 261-8971
Source:
Exprealty
Added: Jun 19
Changed: Oct 3
Last Checked: Oct 20 at 8:46PM
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 Keller Williams Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This well-maintained, freshly painted two-unit mixed-use property includes a residential unit and a commercial storefront space. Unit 1 is a turnkey, three-level home with three bedrooms, one bathroom, hardwood flooring, and ample closet storage. It features a modern bathroom and an eat-in kitchen with oak cabinetry and stainless appliances, along with its own private entrance and private parking spot. Unit 1 is currently vacant by design starting June 1 to allow flexibility for either owner-occupancy or immediate leasing.
Unit 2 is the commercial component on the first floor and is configured for storefront visibility. The space includes large storefront windows, a reception area, and functional rear flex rooms. The unit is currently leased, with rent referenced in the listing as $2,000–$2,200 per month. Showings are scheduled to begin June 11, 2026, with open houses set for this Sunday.
Located at 117 S Pavilion Ave in Riverside, NJ, the property is described as being just two blocks from the Riverside Light Rail Station and a bus stop. This makes the building a practical fit for buyers seeking an owner-occupant lifestyle with an on-site commercial tenant, or investors who want both residential and retail income streams within the same structure based on the current configuration.
Unit 2 is the commercial component on the first floor and is configured for storefront visibility. The space includes large storefront windows, a reception area, and functional rear flex rooms. The unit is currently leased, with rent referenced in the listing as $2,000–$2,200 per month. Showings are scheduled to begin June 11, 2026, with open houses set for this Sunday.
Located at 117 S Pavilion Ave in Riverside, NJ, the property is described as being just two blocks from the Riverside Light Rail Station and a bus stop. This makes the building a practical fit for buyers seeking an owner-occupant lifestyle with an on-site commercial tenant, or investors who want both residential and retail income streams within the same structure based on the current configuration.
Key Highlights
- Mixed‑use 2‑unit property built in 1935 with a residential unit and a leased storefront/commercial unit.
- Unit 1 (residential): 3 bedrooms, 1 bathroom, 3‑level layout; private entrance and private parking spot.
- Unit 1: Fresh interior paint and hardwood flooring; modern bathroom and eat‑in kitchen with oak cabinetry and stainless appliances.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,445
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$768,900
$768.9K
Cap Rate 7%
$549,214
$549.2K
Cap Rate 9%
$427,167
$427.2K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$75.0K $30.00/SF
− Vacancy
−$5.1K −$2.04/SF
EGI
$69.9K $27.96/SF
− OpEx
−$31.5K −$12.58/SF
NOI
$38.4K $15.38/SF
Area
Paterson, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$768,900
Cap Rate 7%
$549,214
Cap Rate 9%
$427,167
Alternative Uses
Best Use
Multifamily LT 5
$597.7K
$523.0K – $697.3K
NOI $41,840 @ 7.0% cap · market cap 9.99%
Second Best
Apartment 5plus
$549.2K
$480.6K – $640.8K
NOI $38,445 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$652.8K
$571.2K – $761.6K
NOI $45,696 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,350
Businesses Nearby
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Turnkey residential unit with private entrance and parking, plus a leased storefront space with rear flex rooms.
Where is this mixed-use property located?
The property is located at 117 S Pavilion Ave Riverside, NJ.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Mixed‑use 2‑unit property built in 1935 with a residential unit and a leased storefront/commercial unit.; Unit 1 (residential): 3 bedrooms, 1 bathroom, 3‑level layout; private entrance and private parking spot.; Unit 1: Fresh interior paint and hardwood flooring; modern bathroom and eat‑in kitchen with oak cabinetry and stainless appliances.
