Open Storefront Retail
For Sale
Contact for pricing
5 Smith St, Paterson, NJ 07505
Flexible commercial layout with approved construction plans available for review.
Property Size1,245 SF
Price / SF$2.41
Days on Market94
Property Features for 5 Smith St
General Information
Standard status
Active
Size
1,245 SF
Building Details
Year Built
1931
Listing Agency:
EXP REALTY, LLC
Listed By:
DAVID H VANEGAS · License #280293
(201) 572-5552
Source:
Luminancerealty
Added: Jul 27
Changed: Oct 25
Last Checked: Oct 5 at 10:08PM
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 EXP REALTY, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This storefront property contains approximately 1,245 square feet of open commercial space, providing a blank interior for a customized build-out. Approved construction plans are available, and the building dates to 1931.
The property is positioned across from the Paterson Center City Mall within Paterson’s commercial district. Established businesses, shopping, restaurants, pedestrian activity, vehicle traffic, and public transportation are all identified in the surrounding setting. The space can accommodate a range of commercial concepts, including retail, office, salon, café, or studio use, subject to applicable approvals.
The property is positioned across from the Paterson Center City Mall within Paterson’s commercial district. Established businesses, shopping, restaurants, pedestrian activity, vehicle traffic, and public transportation are all identified in the surrounding setting. The space can accommodate a range of commercial concepts, including retail, office, salon, café, or studio use, subject to applicable approvals.
Key Highlights
- Approximately 1,245 square feet of open commercial space
- Across the street from Paterson Center City Mall
- Approved construction plans available in the MLS media section
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,770
Suggested Prices Based on Cap Rates
Cap Rate 5%
$355,400
$355.4K
Cap Rate 7%
$253,857
$253.9K
Cap Rate 9%
$197,444
$197.4K
Market Conditions
NOI Build-Up for 1,245 SF
Gross rent
$26.9K $21.60/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$25.4K $20.39/SF
− OpEx
−$7.6K −$6.12/SF
NOI
$17.8K $14.27/SF
Area
Paterson, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$355,400
Cap Rate 7%
$253,857
Cap Rate 9%
$197,444
Alternative Uses
Best Use
Retail
$253.9K
$222.1K – $296.2K
NOI $17,770 @ 7.0% cap · market cap 592.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$325.1K
$284.5K – $379.3K
NOI $22,757 @ 7.0% cap · market cap 758.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,375
Businesses Nearby
79k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Apparel 20%
Groceries 9%
Dollar Tree
Shops & Services
27,068 visits/mo
0.4 miles
Wells Fargo
Shops & Services
9,843 visits/mo
0.2 miles
Dollar General
Shops & Services
9,288 visits/mo
0.2 miles
Mandee
Apparel
7,832 visits/mo
0.5 miles
Family Dollar
Shops & Services
7,197 visits/mo
0.5 miles
Demographics for 07505, NJ
3,215
Population
1,692
Households
1.9
Avg Household Size
38
Median Age
12%
College-Educated
71%
High-School Grad
0.2 sq mi
ZIP Area
16,075
Density / Sq Mi
$33,311
Median Household Income
$33,520
Median Earnings
$1,113
Median Rent
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial layout with approved construction plans available for review.
Where is this storefront property located?
The property is located at 5 Smith St Paterson, NJ.
What are key features of this property?
This property features: Approximately 1,245 square feet of open commercial space; Across the street from Paterson Center City Mall; Approved construction plans available in the MLS media section
