Vacant Retail Building in
For Sale
$1,061,000
139 Wayne Ave, Paterson, NJ 07502
Two-story, 5,050 SF retail building in active commercial corridor.
Property Size5,050 SF
Lot Size0.12 Acres
Price / SF$210.10
Days on Market191
Property Features for 139 Wayne Ave
General Information
Standard status
Active
Size
5,050 SF
Lot size
0.12 Acres
Property subtype
Commercial
Listing Agency:
Triumph Group Real Estate, LLC
(201) 857-8777
Listed By:
Mohamed Eisa () · License #0232194
(201) 889-4494
Source:
Fortuneluxuryrealty
Added: Apr 14
Changed: Oct 13
Last Checked: Oct 20 at 8:01PM
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 Triumph Group Real Estate, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located in Paterson's Totowa commercial corridor, immediately west of Downtown Paterson, this property presents a retail or investment opportunity. The property features a 5,050 SF two-story retail building on a 50' x 101' lot. The building is offered vacant at closing, providing flexibility for owner-users, investors, or those interested in redevelopment. Currently operating as a supermarket, the property includes existing walk-in coolers and freezers and a functional retail layout. It is suited for grocery, specialty food, discount retail, medical, or other neighborhood-serving commercial uses. The property is located in a densely populated residential trade area with strong pedestrian and vehicular traffic. The asset offers visibility, consumer demand, and long-term retail fundamentals. This is an opportunity to acquire a vacant urban retail asset with owner-user utility, lease-up or investment upside, and future redevelopment potential in one of Paterson's established neighborhood retail submarkets.
Key Highlights
- Vacant at closing: Provides immediate flexibility.
- Located in a densely populated area with strong pedestrian and vehicular traffic.
- Excellent visibility and established consumer demand.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,229
Cap Rate
7.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,544,580
$1.5M
Cap Rate 7%
$1,103,271
$1.1M
Cap Rate 9%
$858,100
$858.1K
Market Conditions
NOI Build-Up for 5,050 SF
Gross rent
$109.1K $21.60/SF
− Vacancy
−$6.1K −$1.21/SF
EGI
$103.0K $20.39/SF
− OpEx
−$25.7K −$5.10/SF
NOI
$77.2K $15.29/SF
Area
Paterson, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,544,580
Cap Rate 7%
$1,103,271
Cap Rate 9%
$858,100
Alternative Uses
Best Use
Specialty Retail
$1.10M
$965.4K – $1.29M
NOI $77,229 @ 7.0% cap · market cap 7.28%
Second Best
Retail
$1.03M
$901.0K – $1.20M
NOI $72,080 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,306 @ 7.0% cap · market cap 8.70%
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
Location Intelligence
Trade Area within ½ mile
1,302
Businesses Nearby
38k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Dining 32%
Home Improvements & Furnishings 19%
Dunkin' Donuts
Dining
12,218 visits/mo
0.4 miles
7-Eleven
Shops & Services
9,102 visits/mo
0.3 miles
Union 5 & 10 Inc.
Home Improvements & Furnishings
7,068 visits/mo
0.1 miles
AutoZone
Shops & Services
6,303 visits/mo
0.2 miles
Corner Store
Shops & Services
3,123 visits/mo
0.1 miles
Demographics for 07502, NJ
16,592
Population
4,861
Households
3.4
Avg Household Size
35
Median Age
17%
College-Educated
78%
High-School Grad
0.9 sq mi
ZIP Area
18,436
Density / Sq Mi
$68,649
Median Household Income
$32,407
Median Earnings
$1,492
Median Rent
$347,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- J & S Mini Market — 94 Nagle St, Paterson, NJ 07501
- Mama Coloma grocery & deli — 175 Mill St, Paterson, NJ 07501
- BD Supermarket — 100 Sherwood Ave, Paterson, NJ 07502
- SAGAL Food Market — 174 Main St, Paterson, NJ 07505
- Tana's Food Market — 52 Cianci St, Paterson, NJ 07501
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Two-story, 5,050 SF retail building in active commercial corridor.
Where is this grocery and convenience store located?
The property is located at 139 Wayne Ave Paterson, NJ.
What is the asking price?
The asking price for this property is $1,061,000.
What are key features of this property?
This property features: Vacant at closing: Provides immediate flexibility.; Located in a densely populated area with strong pedestrian and vehicular traffic.; Excellent visibility and established consumer demand.
