Paterson Mixed-Use Value-Add
213 Franklin St Paterson, NJ 07524
213 Franklin St, Paterson, NJ, 07524
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For Sale
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3,398 SF mixed-use property with residential and commercial potential.
Property Size3,398 SF
Price / SF$191.26
Days on Market114
Property Features for 213 Franklin St
General Information
- Standard status
- Active
- Size
- 3,398 SF
- Property subtype
- Mixed Use, Multifamily, Retail, Special Purpose
Listing Agency
Florida Homes Realty and Mortgage
Listed by
Stavros Adonis Mallios · License #FL SL3517036
Source
Crexi
Added: Mar 26 Checked: Jul 16 at 11:03 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 Florida Homes Realty and Mortgage
Investment Insights
Based on property information with market context.
This 3,398 square foot mixed-use property in Paterson, NJ, offers a blend of residential and commercial potential. It is suited for investors seeking to enhance and maximize returns in an urban market. The residential portion features layouts and modern features, offering opportunities to increase rental income or resale value through upgrades and renovations. The ground-floor commercial space is suitable for businesses aiming to establish or expand in a high-traffic area. Improvements such as modernizing the storefront, enhancing the interior design, or reconfiguring the space could boost its appeal and rental income. The property is located in a developing area of Paterson, near transportation routes and a local community. Demand for residential and commercial spaces is expected to rise, enhancing the property's long-term value. The commercial space is suited for retail, office, or dining establishments.
Key Highlights
- Significant value‑add potential in a thriving urban market, ideal for investors looking to maximize returns.
- Mixed‑use property (3,398 SF) balancing residential comfort with commercial potential.
- Ground‑floor commercial space suitable for retail, office, or dining establishments in a high‑traffic area.
Local Financial Insights For Retail
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 | $73.4k | $21.60 |
| − Vacancy | −$4.1k | −$1.21 |
| EGI | $69.3k | $20.39 |
| − OpEx | −$20.8k | −$6.12 |
| NOI | $48.5k | $14.27 |
3,398 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$692.9K
$606.3K – $808.4K
NOI $48,501 @ 7.0% cap · market cap 7.46%
Second Best
Mixed Use
$640.8K
$560.7K – $747.6K
NOI $44,854 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$887.3K
$776.4K – $1.04M
NOI $62,110 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
R-LORENZO AUTO REPAIR ...
Auto Repair Shop
D&B Auto Repair
Auto Repair Shop
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FAQs
What type of property is this?
Mixed-use property - 3,398 SF mixed-use property with residential and commercial potential.
Where is this mixed-use property located?
The property is located at 213 Franklin St Paterson, NJ.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Significant value‑add potential in a thriving urban market, ideal for investors looking to maximize returns.; Mixed‑use property (3,398 SF) balancing residential comfort with commercial potential.; **Ground‑floor commercial space** suitable for retail, office, or dining establishments in a high‑traffic area.
