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    116 Belmont Ave Paterson, NJ 07522

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    For Sale
    $799,900

    Mixed-use property featuring retail space and two apartment units.

    Lot size:
    0.10 Acres

    Property Features for 116 Belmont Ave

    General Information

    Lot size
    0.10 Acres

    Building Details

    Year built
    1970

    Source: PROMISE LAND REALTY Agent GUIDO BARRANTES

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Property with Apartment Units

    This mixed-use property features a first floor space previously used as a laundromat. The space is ready for the installation of 20 washers and 20 dryers. A new central AC/heat system has been installed. The property also includes two apartments on the second and third floors. Recent improvements include a new driveway, siding, and roof. This property presents an opportunity for various business ventures.
    Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Gym & Fitness Clothing Store Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Paterson
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.1801463
    Latitude
    40.9279455

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property featuring retail space and two apartment units.
    Where is this mixed-use property located?
    The property is located at 116 Belmont Ave Paterson, NJ.
    What is the asking price?
    The asking price for this property is $799,900.
    What are key features of this property?
    This property features: - Mixed-use property with potential for a **lucrative laundromat business (ready for 20 washers and 20 dryers)**.; - Two nicely kept apartments on the second and third floors.; - **New central AC/heat installed.**
    (973) 253-7330
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    116 Belmont Ave Paterson, NJ 07522
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    Paterson, NJ 07522
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    116 Belmont Ave Paterson, NJ 07522
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