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    58 Wayne Ave Paterson, NJ 07522

    For Sale
    $1,250,000

    Five-family building with garages and storage units near Paterson Falls.

    Lot size:
    0.11 Acres

    Property Features for 58 Wayne Ave

    General Information

    Lot size
    0.11 Acres

    Source: WEICHERT REALTORS Agent BERYL BELLS

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

    Overview

    Income Generating Multifamily Building

    This is an opportunity to acquire an income-generating five-family building. The corner property is situated in a prime location next to Paterson Falls. The property includes seven garages and four storage units, providing additional rental income. The location offers curb appeal and is in close proximity to shopping stores and transportation.
    Insight Report Location Intelligence

    Current Use by Public Records

    Parking lots & garages

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Paterson
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.1838691
    Latitude
    40.9170474

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    FAQs

    What type of property is this?
    Apartment building - Five-family building with garages and storage units near Paterson Falls.
    Where is this apartment building located?
    The property is located at 58 Wayne Ave Paterson, NJ.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: - Income-generating 5-family building; - Prime location next to Paterson Falls; - Seven garages for additional rental income
    (973) 779-1900
    Request Owner's contact information
    58 Wayne 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
    58 Wayne Ave Paterson, NJ 07522
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