Two-Story Retail with Vacant
For Sale
$775,000
320 Market St, Paterson, NJ 07501
Two levels offer a current barbershop on the first floor and a vacant second-floor retail space.
Property Size2,310 SF
Price / SF$335.50
Days on Market82
Property Features for 320 Market St
General Information
Standard status
Active
Size
2,310 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$17,338
Amenities
Composition Shingle Roof
On-Street Parking
Radiators - Hot Water Heating
Building Details
Stories
2
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
JEETRANI EUELL · License #0338314
Source:
Corcoran
Added: Jun 10
Changed: Aug 27
Last Checked: Aug 29 at 9:54AM
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 EXP REALTY, LLC
Investment Insights
Based on property information with market context.
This spacious multi-use retail property is configured with commercial space on two floors. The first floor is currently used as a barber shop and is reported as having no lease in place. The second floor is a vacant store space, providing an in-place layout that can support an additional storefront or business use.
The property is located at 320 Market St in Paterson City, NJ, in the Sandyhill neighborhood just outside the core of Downtown Paterson. The surrounding area includes a mixture of commercial stores and residential homes, supporting neighborhood-oriented retail activity.
For buyers or operators, the combination of an operating first-floor use and a vacant second-floor space can fit an owner-occupant model with room to expand, or a buyer seeking to lease the upper level separately. The existing two-story arrangement and ready-to-use commercial footprint make it straightforward to evaluate for a variety of retail and service concepts, subject to applicable approvals.
The property is located at 320 Market St in Paterson City, NJ, in the Sandyhill neighborhood just outside the core of Downtown Paterson. The surrounding area includes a mixture of commercial stores and residential homes, supporting neighborhood-oriented retail activity.
For buyers or operators, the combination of an operating first-floor use and a vacant second-floor space can fit an owner-occupant model with room to expand, or a buyer seeking to lease the upper level separately. The existing two-story arrangement and ready-to-use commercial footprint make it straightforward to evaluate for a variety of retail and service concepts, subject to applicable approvals.
Key Highlights
- Two‑level multi‑use property with a barber shop on the first floor
- First‑floor barber shop has no lease in place
- Second‑floor store space is currently vacant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,971
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$659,420
$659.4K
Cap Rate 7%
$471,014
$471.0K
Cap Rate 9%
$366,344
$366.3K
Market Conditions
NOI Build-Up for 2,310 SF
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.
Gross rent
$49.9K $21.60/SF
− Vacancy
−$2.8K −$1.21/SF
EGI
$47.1K $20.39/SF
− OpEx
−$14.1K −$6.12/SF
NOI
$33.0K $14.27/SF
Area
Paterson, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$659,420
Cap Rate 7%
$471,014
Cap Rate 9%
$366,344
Alternative Uses
Best Use
Retail
$471.0K
$412.1K – $549.5K
NOI $32,971 @ 7.0% cap · market cap 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$603.2K
$527.8K – $703.7K
NOI $42,223 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,662
Businesses Nearby
128k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 26%
Groceries 9%
Apparel 8%
Wendy's
Dining
26,654 visits/mo
0.4 miles
Checkers
Dining
13,508 visits/mo
0.1 miles
Golden Mango
Groceries
11,388 visits/mo
0.3 miles
Exxon
Shops & Services
10,493 visits/mo
0.5 miles
Popeyes Louisiana Kitchen
Dining
9,276 visits/mo
0.2 miles
Demographics for 07501, NJ
37,918
Population
13,119
Households
2.9
Avg Household Size
33
Median Age
9%
College-Educated
71%
High-School Grad
1.8 sq mi
ZIP Area
21,066
Density / Sq Mi
$40,699
Median Household Income
$32,103
Median Earnings
$1,442
Median Rent
$304,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two levels offer a current barbershop on the first floor and a vacant second-floor retail space.
Where is this retail space located?
The property is located at 320 Market St Paterson, NJ.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Two‑level multi‑use property with a barber shop on the first floor; First‑floor barber shop has no lease in place; Second‑floor store space is currently vacant
