Paterson Mixed-Use Value-Add
For Sale
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213 Franklin St, Paterson, NJ 07524
3,398 SF mixed-use property with residential and commercial potential.
Property Size3,398 SF
Price / SF$191.26
Days on Market204
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Property Features for 213 Franklin St
General Information
Standard status
Active
Size
3,398 SF
Property subtype
Mixed Use, Multifamily, Retail, Special Purpose
Occupancy
66%
Investment Type
Value Add
Building Details
Buildings
1
Stories
2
Units
3
Listing Agency:
Florida Homes Realty and Mortgage
Listed By:
Stavros Adonis Mallios · License #FL SL3517036
Source:
Crexi
Added: Mar 26
Changed: Oct 8
Last Checked: Oct 15 at 12:10AM
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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,854
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$897,080
$897.1K
Cap Rate 7%
$640,771
$640.8K
Cap Rate 9%
$498,378
$498.4K
Market Conditions
NOI Build-Up for 3,398 SF
Gross rent
$81.6K $24.00/SF
− Vacancy
−$9.8K −$2.88/SF
EGI
$71.8K $21.12/SF
− OpEx
−$26.9K −$7.92/SF
NOI
$44.9K $13.20/SF
Area
Paterson, NJ
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$897,080
Cap Rate 7%
$640,771
Cap Rate 9%
$498,378
Alternative Uses
Best Use
Mixed Use
$640.8K
$560.7K – $747.6K
NOI $44,854 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
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 authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,813
Businesses Nearby
Explore this area
Business Placement
Demographics for 07524, NJ
14,130
Population
4,670
Households
3
Avg Household Size
33
Median Age
13%
College-Educated
73%
High-School Grad
0.8 sq mi
ZIP Area
17,663
Density / Sq Mi
$50,033
Median Household Income
$31,934
Median Earnings
$1,386
Median Rent
$360,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
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.
