Mixed-Use Property with
For Sale
$1,349,000
386 River St, Paterson, NJ 07524
Fully occupied mixed-use building with residential apartments, ground-floor commercial space, separate utilities, and on-site parking.
Property Size8,000 SF
Days on Market16
Property Features for 386 River St
General Information
Standard status
Active
Size
8,000 SF
Total Parking Spaces
6
Property subtype
Commercial
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$138,000
Taxes and HOA fees
Annual Taxes
$29,342
Building Details
Building Size
8,000 SF
Year Built
1930
Stories
2
Units
8
Listing Agency:
UNITED REAL ESTATE
(888) 501-6953
Listed By:
ROBERTO SANCHEZ · License #9333908
Source:
Elliman
Added: Aug 17
Changed: Aug 31
Last Checked: Aug 29 at 12:15PM
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 UNITED REAL ESTATE
Investment Insights
Based on property information with market context.
This mixed-use property combines four 2-bedroom apartments on the second floor with ground-floor commercial space. The apartments feature open layouts, one bathroom, kitchens, living and dining areas, closets, and casement windows. Ground-floor units 5 and 6 provide approximately 4,100 square feet combined, while units 7 and 8 are located on the Putnam St side. A full basement offers additional storage or utility space.
The property includes a fenced parking lot currently used by residential tenants, with approximately 6 spaces. Electric, heat, and water are separately metered for the units. The building is near NYC bus service, shopping, and major highways, with walkScore 75, bikeScore 50, and transitScore 35.
The property includes a fenced parking lot currently used by residential tenants, with approximately 6 spaces. Electric, heat, and water are separately metered for the units. The building is near NYC bus service, shopping, and major highways, with walkScore 75, bikeScore 50, and transitScore 35.
Key Highlights
- Four 2‑bedroom apartments on the second floor
- Ground‑floor units 5 and 6 total approximately 4,100 SQF
- Units 7 and 8 are located on the Putnam St side
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
$123,024
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
9.12%
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%
$2,460,480
$2.5M
Cap Rate 7%
$1,757,486
$1.8M
Cap Rate 9%
$1,366,933
$1.4M
Market Conditions
NOI Build-Up for 8,000 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
$240.0K $30.00/SF
− Vacancy
−$16.3K −$2.04/SF
EGI
$223.7K $27.96/SF
− OpEx
−$100.7K −$12.58/SF
NOI
$123.0K $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 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%
$2,460,480
Cap Rate 7%
$1,757,486
Cap Rate 9%
$1,366,933
Alternative Uses
Best Use
Apartment 5plus
$1.76M
$1.54M – $2.05M
NOI $123,024 @ 7.0% cap · market cap 9.12%
Second Best
Mixed Use
$1.51M
$1.32M – $1.76M
NOI $105,600 @ 7.0% cap · market cap 7.83%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,227 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,713
Businesses Nearby
Explore this area
Business Placement
Demographics for 07524, NJ
14,130
Population
4,670
Households
3
Avg Household Size
33
Median Age
13%
College-Educated
73%
High-School Grad
0.8 sq mi
ZIP Area
17,663
Density / Sq Mi
$50,033
Median Household Income
$31,934
Median Earnings
$1,386
Median Rent
$360,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied mixed-use building with residential apartments, ground-floor commercial space, separate utilities, and on-site parking.
Where is this mixed-use property located?
The property is located at 386 River St Paterson, NJ.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: Four 2‑bedroom apartments on the second floor; Ground‑floor units 5 and 6 total approximately 4,100 SQF; Units 7 and 8 are located on the Putnam St side
