515-517 Park Ave, Paterson, NJ 07504
Commercial - Paterson City, NJ
- Added:
- Apr 28, 2026
- Days on Market:
- 48
- Last Refresh:
- Jun 14 at 10:06 am
Property Features for 515-517 Park Ave
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- R2
- Rooms
- Basement
- Basement Y/N
- 1
- Standard status
- Active
- Size
- 3,600 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 15743
Building Details
- Year built
- 1040
- Floors in Building
- 2
- Number of units
- 3
- Building materials
- Brick
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing agent LINTON GAINES (973) 340-1649
Listing office NICHOLAS REAL ESTATE AGENCY 1624 MAIN AVENUE, Clifton, NJ (973) 340-1202
Listing date Apr 28, 2026
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Income‑producing property featuring a restaurant and barber shop on the first floor, plus two apartments above.
- Each unit benefits from separate heating and electric.
- Located in a high‑traffic area.
- Relatively new roof (approximately 10 years old).
- Two spacious 3‑bedroom apartments on the second floor.
- Durable brick construction.
Overview
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $108.0k | $30.00 |
| − Vacancy | −$7.3k | −$2.04 |
| EGI | $100.7k | $27.96 |
| − OpEx | −$45.3k | −$12.58 |
| NOI | $55.4k | $15.38 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Paterson
- County
- Passaic
- State
- New Jersey
- Longitude
- -74.14319
- Latitude
- 40.91345