6-Unit Mixed-Use
122 16th Ave, Paterson, NJ 07501
For Sale
New
$1,239,000
Ground-floor commercial space is configured for restaurant use and includes extensive refrigerator and freezer storage.
Property Size3,513 SF
Price / SF$352.69
Days on Market4
Property Features for 122 16th Ave
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Mixed-Use Components
Taxes and HOA fees
Annual Taxes
Amenities
Finished
Gas-Natural
1
4
2
3
10
Carbon Monoxide Detector,Smoke Detector
1.0
2.0
Bedrooms,Eat-In Kitchen,Kitchen,Living/Dining Room
Bedrooms,Kitchen,Living Room
No
Public Water
25X60
0.03
3513
Brick,Vinyl Siding
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
(732) 853-1896
Listed By:
Nida Haider
Source:
Orangekeyrealty
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 4:45PM
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 Nida Haider
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.
Built in 1925, this 3,513-square-foot mixed-use property contains four residential apartments and a commercial component formed by two storefronts joined as one space. The commercial area is arranged for restaurant-kitchen use and has substantial refrigerator and freezer storage. The residential mix includes two three-bedroom apartments and two two-bedroom apartments; two of the three-bedroom units have been renovated, and one two-bedroom apartment has been refreshed.
The property occupies a 0.03-acre parcel measuring 25 by 60 feet and is zoned RA-2. Exterior materials include brick and vinyl siding. Public water and natural gas are listed among the property features.
The property occupies a 0.03-acre parcel measuring 25 by 60 feet and is zoned RA-2. Exterior materials include brick and vinyl siding. Public water and natural gas are listed among the property features.
Key Highlights
- Six total units: one combined commercial space and four apartments
- Commercial space combines two storefronts and is configured for restaurant‑kitchen use
- Refrigerator and freezer storage in the commercial area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,023
Cap Rate
4.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,080,460
$1.1M
Cap Rate 7%
$771,757
$771.8K
Cap Rate 9%
$600,256
$600.3K
Market Conditions
NOI Build-Up for 3,513 SF
Gross rent
$105.4K $30.00/SF
− Vacancy
−$7.2K −$2.04/SF
EGI
$98.2K $27.96/SF
− OpEx
−$44.2K −$12.58/SF
NOI
$54.0K $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%
$1,080,460
Cap Rate 7%
$771,757
Cap Rate 9%
$600,256
Alternative Uses
Best Use
Apartment 5plus
$771.8K
$675.3K – $900.4K
NOI $54,023 @ 7.0% cap · market cap 4.36%
Second Best
Specialty Retail
$767.5K
$671.6K – $895.4K
NOI $53,724 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$917.3K
$802.7K – $1.07M
NOI $64,212 @ 7.0% cap · market cap 5.18%
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
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,246
Businesses Nearby
Explore this area
Business Placement
Demographics for 07501, NJ
37,918
Population
13,119
Households
2.9
Avg Household Size
33
Median Age
9%
College-Educated
71%
High-School Grad
1.8 sq mi
ZIP Area
21,066
Density / Sq Mi
$40,699
Median Household Income
$32,103
Median Earnings
$1,442
Median Rent
$304,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Mixed-use properties in Paterson, NJ
Properties on Market for Mixed-use properties in Paterson
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space is configured for restaurant use and includes extensive refrigerator and freezer storage.
Where is this mixed-use property located?
The property is located at 122 16th Ave Paterson, NJ.
What is the asking price?
The asking price for this property is $1,239,000.
What are key features of this property?
This property features: Six total units: one combined commercial space and four apartments; Commercial space combines two storefronts and is configured for restaurant‑kitchen use; Refrigerator and freezer storage in the commercial area
