Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    59 Broadway Paterson, NJ 07505

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $1,398,000

    Mixed-use building with retail and apartments in a busy area.

    Lot size:
    999,999.00 Acres

    Property Features for 59 Broadway

    General Information

    Property type
    Commercial
    Standard status
    Pending
    Lot size
    999,999.00 Acres

    Building Details

    Year built
    1983

    We can help!

    Listing Contact
    Tracy Chan
    Source: Elliman

    Listing Agency: CENTURY 21 Cedarcrest Realty, Inc. Listing Agent: Tracy Chan

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

    Learn more

    Overview

    Mixed-Use Building in Downtown Paterson

    This mixed-use building features three storefronts on the street level and three two-bedroom apartments on the second floor. It is situated in the busy downtown area of Paterson, New Jersey, near a bus terminal with service to New York City and various locations within New Jersey. The property is approximately a 30-minute drive to New York City via Route 80. The total annual rental income is $180,000, with a net income of $118,860, representing an 8.5% return.
    Location Intelligence

    Current Use by Public Records

    Brillante Restaurant D & B Love ... Nail Salon

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Paterson
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.172608
    Latitude
    40.9191311

    Nearby Similar for Sale

    • $600,000
      3,235 SF

      Mixed-Use Investment in Downtown Paterson

      High-yielding, turn-key asset in a growing market.
      119 W Broadway, Paterson, NJ 07522
      View Details
    • $499,000
      4,368 SF

      Paterson City Commercial Building

      Two-story building with basement in high-traffic area.
      84 Ellison St, Paterson, NJ 07505
      View Details
    • $1,950,000
      5,000 SF

      Versatile Commercial Building with Gated Lot

      5000 SF commercial building on 10,000 SF lot.
      72-78 Illinois Ave, Paterson, NJ 07503
      View Details
    • $1,900,000
      5,000 SF

      Waterfront Marina and Restaurant Opportunity

      6.2-acre marina and restaurant property on Rancocas Creek.
      625 Harrison St, Riverside, NJ 08075
      View Details
    • $2,800,000
      Pending

      Paterson City Commercial Opportunity

      Prime commercial property suitable for car lot, mechanic, or auto body.
      862-868 E 26Th St, Paterson, NJ 07513
      View Details
    • $525,000

      Renovated Mixed-Use Building with Bar

      Mixed-use building with bar and residential unit in Paterson.
      541 Union Ave, Paterson, NJ 07522
      View Details
    • $599,900
      0.11 Acres

      Spacious Multi-Family in Paterson City

      Three-story two-family home with bonus attic and parking.
      85 Kearney St, Paterson, NJ 07522
      View Details
    • New
      $475,888

      Well-Maintained Two-Family Home

      Two-family home in a high-demand area, ideal for owner-occupants.
      29-31 22Nd Ave, Paterson, NJ 07513
      View Details
    • New
      $475,888
      0.02 Acres

      Two-Family Home in Paterson City

      Well-maintained two-family home with income potential in a desirable location.
      29 22Nd Ave, Paterson, NJ 07513
      View Details
    • $499,999

      Renovated Two-Family Property in Paterson

      Spacious, renovated two-family property with income potential in Paterson, NJ.
      168 Main St, Paterson, NJ 07522
      View Details
    • $765,000
      0.08 Acres

      Renovated Multi-Family Home, Paterson City

      Recently renovated three-family home in Paterson's Great Falls section.
      76-78 Jasper St, Paterson, NJ 07522
      View Details
    • $169,000
      3,600 SF

      Profitable Supermarket & Deli Business

      Turnkey supermarket and deli business opportunity in Paterson, NJ.
      394 Main St, Paterson, NJ 07501
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building with retail and apartments in a busy area.
    Where is this mixed-use property located?
    The property is located at 59 Broadway Paterson, NJ.
    What is the asking price?
    The asking price for this property is $1,398,000.
    What are key features of this property?
    This property features: - High annual net income of $118,860, yielding an 8.5% return.; - Mixed-use building with 3 street-level storefronts and 3 two-bedroom apartments.; - Located in a busy downtown area with a bus terminal and Jitney service to NYC and various NJ locations.
    (973) 228-1050
    Request Owner's contact information
    59 Broadway Paterson, NJ 07505
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    59 Broadway
    Paterson, NJ 07505
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    59 Broadway Paterson, NJ 07505
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Tracy Chan
    (973) 228-1050 (973) 476-8097
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!