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    196 Jefferson St Passaic, NJ 07055

    For Sale
    $4,299,000

    Commercial space with approved multifamily development potential in Passaic.

    Lot size:
    0.14 Acres

    Property Features for 196 Jefferson St

    General Information

    Lot size
    0.14 Acres

    Building Details

    Year built
    2026

    Source: HOMENET REALTY Agent ALAM ABDELAZIZ

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

    Overview

    Passaic Mixed-Use Development Opportunity

    This property features a 9,900-square-foot commercial space on the first floor. It has received approval for the construction of nine apartments on each of the existing second and third floors. Furthermore, there is approval to add a fourth floor, which would allow for the construction of nine additional apartments, bringing the total to 27 units. The approved unit mix includes three studios, nine one-bedroom apartments, nine two-bedroom apartments, and six three-bedroom apartments. The property is located in a prime location within Passaic.
    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 Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Passaic
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.1258317
    Latitude
    40.862146

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    FAQs

    What type of property is this?
    Apartment building - Commercial space with approved multifamily development potential in Passaic.
    Where is this apartment building located?
    The property is located at 196 Jefferson St Passaic, NJ.
    What is the asking price?
    The asking price for this property is $4,299,000.
    What are key features of this property?
    This property features: - Approved for 27 apartments, featuring a mix of studio, one, two, and three-bedroom units.; - Boasts a **9900 sq ft commercial space** on the first floor.; - Approval to add a fourth floor, offering potential for additional apartments.
    (973) 370-0808
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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
    196 Jefferson St Passaic, NJ 07055
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