331 Market St Paterson, NJ 07501
Mixed-use property with two apartments and commercial storefront for sale.
Property Features for 331 Market St
General Information
- Standard status
- Active
- Size
- 3,168 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1910
Listing office KELLER WILLIAMS TEAM REALTY (973) 253-2800
Listing date Mar 30, 2026
Source Corcoran
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Investment Insights
Based on property information with market context.
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 |
