Paterson Commercial Building on
207 Market #203 Paterson, NJ 07505
207 Market #203, Paterson, NJ, 07505
$1,950,000
For Sale
$1,950,000
Income-producing, mixed-use building with value-add potential in Paterson.
Property Size13,107 SF
Price / SF$148.78
Days on Market150
Property Features for 207 Market #203
General Information
- Standard status
- Active
- Size
- 13,107 SF
- Property subtype
- Commercial
Listing Agency
KELLER WILLIAMS PARK VIEWS
(201) 939-0050
Listed by
JOSUE ROMERO
Source
Corcoran
Added: Feb 17 Checked: Jul 17 at 3:15 am
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 KELLER WILLIAMS PARK VIEWS
Investment Insights
Based on property information with market context.
This is a rare opportunity to acquire a stabilized, income-producing commercial building in the heart of Paterson. Positioned on highly trafficked Market Street, this 3-story masonry asset offers approximately 13,107 SF of prime downtown real estate with immediate cash flow and long-term upside. The property features a leased retail storefront on the first floor (approx. 6,500 SF) and a leased office space on the third floor (approx. 3,500 SF), delivering strong in-place income. The second floor (approx. 3,500 SF) provides clear value-add potential for repositioning or future development. The property also includes rear land behind the building, offering additional expansion or build-out potential. Located within the B-4 Central Business District zone, the property supports a variety of commercial and mixed-use uses. Based on zoning parameters and preliminary development concepts, there may be potential for residential conversion, with conceptual estimates ranging from approximately 40 to 90 units, subject to architectural design and full municipal approvals. Surrounded by redevelopment, transit access, and established commercial activity, this asset offers multiple strategies: stable hold, expansion, repositioning, or long-term redevelopment.
Key Highlights
- Stabilized, income‑producing commercial building with immediate cash flow.
- Prime downtown location on highly trafficked Market Street.
- Value‑add potential on the second floor for repositioning or future development.
Local Financial Insights For Mixed Use
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 | $314.6k | $24.00 |
| − Vacancy | −$37.7k | −$2.88 |
| EGI | $276.8k | $21.12 |
| − OpEx | −$103.8k | −$7.92 |
| NOI | $173.0k | $13.20 |
13,107 SF · lease $24.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$2.86M
$2.51M – $3.34M
NOI $200,537 @ 7.0% cap · market cap 10.28%
Second Best
Retail
$2.67M
$2.34M – $3.12M
NOI $187,080 @ 7.0% cap · market cap 9.59%
Theoretical Best
Office A
$3.42M
$2.99M – $3.99M
NOI $239,575 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Income-producing, mixed-use building with value-add potential in Paterson.
Where is this mixed-use property located?
The property is located at 207 Market #203 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: Stabilized, income‑producing commercial building with immediate cash flow.; Prime downtown location on highly trafficked Market Street.; Value‑add potential on the second floor for repositioning or future development.
