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    4 Market St Passaic, NJ 07055

    For Sale
    $950,000

    Mixed-use property with restaurant and apartments in a redevelopment zone.

    Lot size:
    0.06 Acres

    Property Features for 4 Market St

    General Information

    Lot size
    0.06 Acres

    Building Details

    Year built
    1930

    Source: HOWARD HANNA RAND REALTY Agent JOSE PEREZ

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

    Overview

    Mixed-Use Property in Redevelopment Zone

    This mixed-use commercial property is for sale in a redevelopment zone and has a cap rate of over 8%. The property features a 2200+ square foot restaurant/hall on the first level and two apartments on the second level. Each apartment includes two bedrooms, one bathroom, a living room, and a dining room, and both were renovated less than 5 years ago with forced hot air. The entire building was renovated less than 5 years ago, including the roof, plumbing, electrical systems, and apartments, all done to code. The restaurant has central air and forced air and can accommodate up to 120 people. A large open basement, the length of the building, is used by the first-floor business. There are separate utilities for all three apartments. The second-floor tenants have leases expiring in April and May 2026. The current rents are $4800 + $1500 + $1600. The restaurant also pays half of the taxes and half of the water. The two-bedroom apartments are currently below market value.
    Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Passaic
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.1159586
    Latitude
    40.8611528

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with restaurant and apartments in a redevelopment zone.
    Where is this mixed-use property located?
    The property is located at 4 Market St Passaic, NJ.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: - Over 8% Cap Rate in Redevelopment Zone; - Two renovated 2 bedroom, 1 bathroom apartments feature forced hot air.; - Busy 2200+ sq ft restaurant/hall with central air and forced air, seating 120.
    (973) 694-6500
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    Passaic, NJ 07055
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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
    4 Market St Passaic, NJ 07055
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