Mixed-Use Property with Rental
For Sale
$790,000
480 Main St, Paterson, NJ 07501
Mixed-use property featuring commercial space and residential units.
Property Size4,318 SF
Price / SF$182.96
Days on Market228
Property Features for 480 Main St
General Information
Standard status
Active
Size
4,318 SF
Building Details
Year Built
1978
Listing Agency:
WEICHERT REALTORS
Listed By:
SANDY CUEVAS · License #300178
(201) 333-4443
Source:
Luminancerealty
Added: Mar 5
Changed: Oct 3
Last Checked: Oct 5 at 8:17PM
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 REALTORS
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Investment Insights
Based on property information with market context.
This mixed-use property features a commercial space on the first level, currently occupied by an appliance store. The second and third floors contain two 4-bedroom units, which are currently rented. The property has a size of 4318 square feet. This property can also be purchased as a package with another property located at 478 Main St, Paterson NJ for an additional price.
Key Highlights
- Mix use property
- Commercial space on the first level
- Two 4‑bedroom units on the 2nd and 3rd floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,998
Cap Rate
7.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,139,960
$1.1M
Cap Rate 7%
$814,257
$814.3K
Cap Rate 9%
$633,311
$633.3K
Market Conditions
NOI Build-Up for 4,318 SF
Gross rent
$103.6K $24.00/SF
− Vacancy
−$12.4K −$2.88/SF
EGI
$91.2K $21.12/SF
− OpEx
−$34.2K −$7.92/SF
NOI
$57.0K $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%
$1,139,960
Cap Rate 7%
$814,257
Cap Rate 9%
$633,311
Alternative Uses
Best Use
Mixed Use
$814.3K
$712.5K – $950.0K
NOI $56,998 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$986.6K – $1.32M
NOI $78,926 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,276
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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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring commercial space and residential units.
Where is this mixed-use property located?
The property is located at 480 Main St Paterson, NJ.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Mix use property; Commercial space on the first level; Two 4‑bedroom units on the 2nd and 3rd floors
