242-244 Main St Paterson, NJ 07505
Six-story mixed-use building with retail and apartments on Main St.
Property Features for 242-244 Main St
General Information
- Standard status
- Active
Source:
Corcoran
Listing Agency: ALPINE MC REALTY LLC Listing Agent: Woo Choi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Mixed-Use Building on Main Street
This six-story mixed-use building is located on Main Street in Paterson. The property features one retail space and five apartments. The building offers potential for increased income, as the current rent is below market value. The current income is $119,400. Each floor provides 1800 square feet of space. There is potential to create a three-bedroom apartment on each floor. Four apartments are updated. The building has separated heating and a full basement. The sixth floor is currently vacant. The retail space is occupied by a cell phone store. The location on Main Street, the busiest street in Paterson, adds to the property's value.
Location Intelligence
Current Use by Public Records
BelcoBTM Bitcoin ATM
Atm
Location Insight
- Map
- Local Demand
- City
- Paterson
- County
- Passaic
- State
- New Jersey
- Longitude
- -74.1733894
- Latitude
- 40.9163831
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Six-story mixed-use building with retail and apartments on Main St.
Where is this mixed-use property located?
The property is located at 242-244 Main St Paterson, NJ.
What are key features of this property?
This property features: - High Income Potential: Opportunity to significantly increase income exceeding $200,000 by raising rents to market value and converting apartments to 3-beds.; - Prime Location: Situated on Main St., the busiest street in Paterson, ensuring high visibility and foot traffic.; - Mixed-Use Building: Features a retail space and five apartments, providing diverse income streams.
