Building Details

Year Built 1941

Listing Agency: ELITE REALTORS OF NEW JERSEY

Listed By: DAVID SIMONETTI Show Phone

Source: Luminancerealty

Added: Aug 16 Changed: Oct 5 Last Checked: Oct 5 at 8:31PM

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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 ELITE REALTORS OF NEW JERSEY

Investment Insights

Based on property information with market context.

This mixed-use property combines approximately 5,200 square feet of space across a commercial storefront, attached garage, second-floor retail or warehouse area, and a three-bedroom, 1.5-bath apartment. A finished basement adds further utility for storage or business operations. The layout may support retail, office, warehouse, contractor, or live/work applications, subject to municipal approvals.

The property occupies an approximately 60-by-125-foot lot with a fenced backyard that can accommodate additional parking, outdoor storage, or future expansion, subject to applicable approvals. Existing parking includes a front driveway, oversized garage, frontage parking, and street parking. Built in 1941, the property offers a combination of commercial workspace and residential accommodation within one adaptable building.

Key Highlights

• Approximately 5,200 square feet of mixed‑use space
• Three‑bedroom, 1.5‑bath apartment
• Commercial storefront, second‑floor retail/warehouse area, and attached garage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$74,221

Cap Rate

7.81%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,484,420 $1.5M

Cap Rate 7%

$1,060,300 $1.1M

Cap Rate 9%

$824,678 $824.7K

Market Conditions

NOI Build-Up for 5,200 SF

Gross rent

$112.3K $21.60/SF

− Vacancy

−$6.3K −$1.21/SF

EGI

$106.0K $20.39/SF

− OpEx

−$31.8K −$6.12/SF

NOI

$74.2K $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%

$1,484,420

Cap Rate 7%

$1,060,300

Cap Rate 9%

$824,678

Alternative Uses

Best Use

Retail

$1.06M

$927.8K – $1.24M (±1% cap)

NOI $74,221 @ 7.0% cap · market cap 7.81%

Second Best

Warehouse

$1.03M

$897.4K – $1.20M (±1% cap)

NOI $71,795 @ 7.0% cap · market cap 7.56%

Theoretical Best

Office A

$1.36M

$1.19M – $1.58M (±1% cap)

NOI $95,048 @ 7.0% cap · market cap 10.01%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Sim-O-Rama Sound Electronics & Wireless Store

Suggested Use

Top Pick Parking Lot & Garage Florist (Bike/Boat/Book/etc) Store Restaurant Butcher Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

1,076

Businesses Nearby

Explore this area Business Placement

Demographics for 07512, NJ

11,042

Population

4,002

Households

2.8

Avg Household Size

44

Median Age

38%

College-Educated

93%

High-School Grad

4.0 sq mi

ZIP Area

2,761

Density / Sq Mi

$114,177

Median Household Income

$56,348

Median Earnings

$1,703

Median Rent

$507,700

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Flexible commercial and residential configuration with an attached garage, finished basement, and fenced rear yard.

Where is this mixed-use property located?

The property is located at 572 Union Blvd Totowa Boro, NJ.

What is the asking price?

The asking price for this property is $949,999.

What are key features of this property?

This property features: Approximately 5,200 square feet of mixed‑use space; Three‑bedroom, 1.5‑bath apartment; Commercial storefront, second‑floor retail/warehouse area, and attached garage