Mixed-Use Property with Commercial
373 Mcbride Ave, Paterson, NJ 07501
For Sale
$1,500,000
Two vacant second-floor apartments complement the leased ground-floor commercial area.
Property Size4,186 SF
Price / SF$358.34
Days on Market15
Property Features for 373 Mcbride Ave
General Information
Standard status
Size
Property subtype
Site & Location
Corner Location
Mixed-Use Components
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
Central air
Asphalt Shingle Roof
2 Units Heating
Additional Parking
Baseboard - Hotwater Heating
Central Air Cooling
Irregular Lot
Level Lot
Off-Street Parking
Parking Lot-Exclusive
Listing Agency:
WEICHERT RLTRS RDG
(201) 445-9500
Listed By:
JOEL CANNON
Source:
Corcoran
Added: Oct 26
Changed: Nov 8
Last Checked: Nov 8 at 6:06AM
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 WEICHERT RLTRS RDG
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Investment Insights
Based on property information with market context.
The property contains 4,186 square feet, with commercial space at ground level and two two-bedroom apartments on the second floor. Both apartments are vacant. The commercial space is leased through 11/2029 and, according to the owner, could be divided into two units.
Located at 373 Mcbride Ave in Paterson, the property sits on a corner lot in the Stoney Road section, across from Pennington Park and near the Woodland Park border.
Located at 373 Mcbride Ave in Paterson, the property sits on a corner lot in the Stoney Road section, across from Pennington Park and near the Woodland Park border.
Key Highlights
- 4,186‑square‑foot mixed‑use property
- Ground‑floor commercial space leased through 11/2029
- Two vacant two‑bedroom apartments on the second floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,372
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,287,440
$1.3M
Cap Rate 7%
$919,600
$919.6K
Cap Rate 9%
$715,244
$715.2K
Market Conditions
NOI Build-Up for 4,186 SF
Gross rent
$125.6K $30.00/SF
− Vacancy
−$8.5K −$2.04/SF
EGI
$117.0K $27.96/SF
− OpEx
−$52.7K −$12.58/SF
NOI
$64.4K $15.38/SF
Area
Paterson, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,287,440
Cap Rate 7%
$919,600
Cap Rate 9%
$715,244
Alternative Uses
Best Use
Apartment 5plus
$919.6K
$804.7K – $1.07M
NOI $64,372 @ 7.0% cap · market cap 4.29%
Second Best
Mixed Use
$789.4K
$690.7K – $920.9K
NOI $55,255 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$1.09M
$956.4K – $1.28M
NOI $76,513 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
779
Businesses Nearby
Explore this area
Business Placement
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
$304,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Paterson, NJ
Properties on Market for Mixed-use properties in Paterson
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two vacant second-floor apartments complement the leased ground-floor commercial area.
Where is this mixed-use property located?
The property is located at 373 Mcbride Ave Paterson, NJ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 4,186‑square‑foot mixed‑use property; Ground‑floor commercial space leased through 11/2029; Two vacant two‑bedroom apartments on the second floor
