Mixed-Use Property with
For Sale
$1,299,000
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
Price / SF$162.38
Days on Market62
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
Building Details
Year Built
1930
Listing Agency:
United Real Estate
Listed By:
Roberto Sanchez · License #240679
(888) 501-6953
Source:
Srrealestategroup
Added: Aug 17
Changed: Oct 15
Last Checked: Oct 16 at 6:05AM
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
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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 / Yr
$105,600
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,112,000
$2.1M
Cap Rate 7%
$1,508,571
$1.5M
Cap Rate 9%
$1,173,333
$1.2M
Market Conditions
NOI Build-Up for 8,000 SF
Gross rent
$192.0K $24.00/SF
− Vacancy
−$23.0K −$2.88/SF
EGI
$169.0K $21.12/SF
− OpEx
−$63.4K −$7.92/SF
NOI
$105.6K $13.20/SF
Area
Paterson, NJ
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,112,000
Cap Rate 7%
$1,508,571
Cap Rate 9%
$1,173,333
Alternative Uses
Best Use
Apartment 5plus
$1.76M
$1.54M – $2.05M
NOI $123,024 @ 7.0% cap · market cap 9.47%
Second Best
Mixed Use
$1.51M
$1.32M – $1.76M
NOI $105,600 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,227 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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 $1,299,000.
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
