Vacant Retail Building in
For Sale
$1,061,000
139 Wayne Avenue, 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 Market132
Property Features for 139 Wayne Avenue
General Information
Standard status
Active
Size
5,050 SF
Lot size
0.12 Acres
Taxes and HOA fees
Annual Taxes
$36,208
Amenities
Central Air, Gas
Central, Natural Gas
Listing Agency:
TRIUMPH GROUP REAL ESTATE
(201) 889-4494
Listed By:
Mohamed Eisa
(201) 889-4494
Source:
Evrealestate
Added: Apr 14
Changed: Aug 23
Last Checked: Aug 3 at 5:28AM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,229
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- BD Supermarket — 100 Sherwood Ave, Paterson, NJ 07502
- Tana's Food Market — 52 Cianci St, Paterson, NJ 07501
- J & S Mini Market — 94 Nagle St, Paterson, NJ 07501
- SAGAL Food Market — 174 Main St, Paterson, NJ 07505
- Mama Coloma grocery & deli — 175 Mill 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 Avenue 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.
