Mixed-Use Property with Income
331 Market St Paterson, NJ 07501
331 Market St, Paterson, NJ, 07501
$639,000
For Sale
$639,000
Mixed-use property with two apartments and commercial storefront for sale.
Property Size3,168 SF
Price / SF$201.70
Days on Market114
Property Features for 331 Market St
General Information
- Standard status
- Active
- Size
- 3,168 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1910
Listing agency
KELLER WILLIAMS TEAM REALTY
(973) 253-2800
Listed by
BISHOY MEGALLA · License #1005596
Source
Corcoran
Added: Mar 30 Updated: Jul 10 at 12:22PM Checked: Jul 19 at 4:32AM
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 KELLER WILLIAMS TEAM REALTY
Investment Insights
Based on property information with market context.
This mixed-use property features two residential apartments and a commercial storefront. The first apartment includes 2 bedrooms and is rented for $1700. The second apartment features 4 bedrooms and is currently rented for $2700. The ground-floor commercial store can be rented for $3000. Located in a high-demand area with a strong rental market, this property is suitable for investors seeking steady income and long-term value. The property is conveniently situated near shopping, dining, transportation, and major highways. The property size is 3168 square feet.
Key Highlights
- High‑demand location with strong rental market.
- Immediate cash flow from two residential apartments and a commercial storefront.
- Excellent rental income potential: $1700 (2‑bedroom), $2700 (4‑bedroom), and $3000 (commercial).
Local Financial Insights For Apartment 5plus
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 | $95.0k | $30.00 |
| − Vacancy | −$6.5k | −$2.04 |
| EGI | $88.6k | $27.96 |
| − OpEx | −$39.9k | −$12.58 |
| NOI | $48.7k | $15.38 |
3,168 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$696.0K
$609.0K – $812.0K
NOI $48,718 @ 7.0% cap · market cap 7.62%
Second Best
Retail
$646.0K
$565.2K – $753.6K
NOI $45,218 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$827.2K
$723.8K – $965.1K
NOI $57,906 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
What type of property is this?
Mixed-use property - Mixed-use property with two apartments and commercial storefront for sale.
Where is this mixed-use property located?
The property is located at 331 Market St Paterson, NJ.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: High‑demand location with strong rental market.; Immediate cash flow from two residential apartments and a commercial storefront.; Excellent rental income potential: **$1700 (2‑bedroom), $2700 (4‑bedroom), and $3000 (commercial).**
