Two-Story Retail with Vacant
320 Market St Paterson, NJ 07501
For Sale
$775,000
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 Market50
Property Features for 320 Market St
General Information
Standard status
Active
Size
2,310 SF
Property subtype
Commercial
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
JEETRANI EUELL · License #0338314
Source:
Corcoran
Added: Jun 10
Changed: Jul 10
Last Checked: Jul 29 at 7:52AM
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 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 | $49.9k | $21.60 |
| − Vacancy | −$2.8k | −$1.21 |
| EGI | $47.1k | $20.39 |
| − OpEx | −$14.1k | −$6.12 |
| NOI | $33.0k | $14.27 |
2,310 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 30.00%
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
Location Intelligence
Current Use
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
