Mixed-Use Retail and Apartment
122 16Th Ave Paterson, NJ 07501
For Sale
$1,250,000
MULTI_FAMILY - Paterson City, NJ
Property Size3,513 SF
Lot Size0.03 Acres
Price / SF$355.82
Days on Market47
Property Features for 122 16Th Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RA-2
Bedrooms
10
Bathrooms
8
Rooms
Bedroom 10, Bathroom 6, Basement, Bedroom 7, Bathroom 4, Bathroom 8, Bedroom 5, Bathroom 3, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1, Bathroom 5, Bedroom 1, Bedroom 4, Bathroom 7, Bedroom 9, Bedroom 8, Bedroom 6
Standard status
Active
Size
3,513 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
20481
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1925
Number of units
4
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS MID-TOWN DIRECT
(973) 762-5400
Listed By:
MENACHEM SILBERMAN
(973) 762-5400
Added: Jun 12
Changed: Jul 28
Last Checked: Jul 28 at 11:06PM
MLS# 4034158
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property consists of a single commercial space formed from two storefronts, configured as a restaurant kitchen with extensive fridge/freezer storage. The building also includes four residential units: two newly renovated 3-bedroom apartments, one freshly refreshed 2-bedroom apartment, and one additional 2-bedroom unit.
Zoned RA-2, the property is located at 122 16th Ave in Paterson City, Passaic County, New Jersey (07501-2249).
The offering is presented as a value-add blank-canvas asset with space already laid out for restaurant-kitchen operations and a mix of apartment unit types across the four residential units.
Zoned RA-2, the property is located at 122 16th Ave in Paterson City, Passaic County, New Jersey (07501-2249).
The offering is presented as a value-add blank-canvas asset with space already laid out for restaurant-kitchen operations and a mix of apartment unit types across the four residential units.
Key Highlights
- 6‑unit mixed‑use property with two commercial storefronts combined into one larger commercial space
- Commercial space set up for a restaurant kitchen with extensive fridge/freezer storage
- Includes four residential units: two newly renovated 3‑bedroom apartments, one refreshed 2‑bedroom apartment, and one additional 2‑bedroom unit
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $89.8k | $25.56 |
| − Vacancy | −$5.8k | −$1.65 |
| EGI | $84.0k | $23.91 |
| − OpEx | −$25.2k | −$7.17 |
| NOI | $58.8k | $16.74 |
3,513 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$839.9K
$734.9K – $979.9K
NOI $58,794 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$771.8K
$675.3K – $900.4K
NOI $54,023 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$917.3K
$802.7K – $1.07M
NOI $64,212 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Six-unit mixed-use property with combined storefront space configured as a restaurant kitchen and four residential units.
Where is this quadplex located?
The property is located at 122 16Th 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: 6‑unit mixed‑use property with two commercial storefronts combined into one larger commercial space; Commercial space set up for a restaurant kitchen with extensive fridge/freezer storage; Includes four residential units: two newly renovated 3‑bedroom apartments, one refreshed 2‑bedroom apartment, and one additional 2‑bedroom unit
