203 MARKET ST Unit 1-3FL Paterson, NJ 07505

Building Details

Year Built

1900

Listing office KELLER WILLIAMS PARK VIEWS j***@kw.com Show Phone

Listing date Dec 21, 2025

Source Xome

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Investment Insights

Based on property information with market context.

Located in the heart of Paterson's Central Business District on highly trafficked Market Street, this three-story masonry commercial building offers approximately 13,107 square feet of downtown real estate. The property is currently income-producing with significant upside potential. The first floor features a leased retail storefront of approximately 6,500 square feet, and the third floor includes leased office space of approximately 3,500 square feet, providing in-place income. The second floor, comprising approximately 3,500 square feet, presents value-add potential. The property also includes rear land, offering additional expansion or development opportunities, subject to municipal approvals. Zoned B-4 CBD, the property supports a variety of commercial and mixed-use possibilities. Based on zoning parameters and preliminary concepts, there may be potential for residential conversion with conceptual estimates ranging from approximately 40 to 90 units, subject to architectural design and full city approvals. This property presents an excellent opportunity for investors, developers, or owner-users seeking cash flow with long-term growth potential.

Key Highlights

• Prime location in Paterson's Central Business District on highly trafficked Market Street.
• Immediate cash flow from leased retail storefront and office space.
• Significant value‑add potential with the vacant second floor.

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FAQs

What type of property is this?

Mixed-use property - Income-producing commercial building in Paterson's Central Business District.

Where is this mixed-use property located?

The property is located at 203 MARKET ST Unit 1-3FL Paterson, NJ.

What is the asking price?

The asking price for this property is $1,950,000.

What are key features of this property?

This property features: Prime location in Paterson's Central Business District on highly trafficked Market Street.; Immediate cash flow from leased retail storefront and office space.; Significant value‑add potential with the vacant second floor.