Mixed-Use Building with
For Sale
Contact for pricing
Pending
59 Broadway, Paterson, NJ 07505
Mixed-use building with three street-level storefronts and three 2-bedroom apartments on the second floor.
Property Size8,520 SF
Days on Market349
Property Features for 59 Broadway
General Information
Standard status
Pending
Size
8,520 SF
Property subtype
Special Purpose
Additional Details
Cap Rate
8.5%
Multifamily Units
3
Listing Agency:
CENTURY 21 Cedarcrest Realty
Listed By:
Tracy Chan · License #0226604
(973) 228-1050
Source:
Crexi
Added: Sep 23, 2025
Changed: Aug 8
Last Checked: Jul 24 at 2:20PM
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 CENTURY 21 Cedarcrest Realty
Investment Insights
Based on property information with market context.
This level-lot mixed-use building features three street-level storefronts and three 2-bedroom apartments on the second floor. The property is configured to combine retail frontage at street level with residential units above, creating a straightforward, income-generating layout.
Located in a busy downtown area, the building is near a bus terminal with buses and jitneys to NYC, supporting convenient public transportation access. The remarks also note approximately 30 minutes driving time to NYC via Rt. 80.
According to the provided information, total annual rent income is $180,000 with net income of $118,860, reflecting an 8.5% return. For complete details and underwriting information, request more information today.
Located in a busy downtown area, the building is near a bus terminal with buses and jitneys to NYC, supporting convenient public transportation access. The remarks also note approximately 30 minutes driving time to NYC via Rt. 80.
According to the provided information, total annual rent income is $180,000 with net income of $118,860, reflecting an 8.5% return. For complete details and underwriting information, request more information today.
Key Highlights
- Mixed‑use building with 3 street‑level storefronts and 3 second‑floor 2BR apartments
- Total annual rent income of $180,000 and net income of $118,860 for an 8.5% return
- Level lot building with mixed‑use layout in a busy downtown area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$121,608
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,432,160
$2.4M
Cap Rate 7%
$1,737,257
$1.7M
Cap Rate 9%
$1,351,200
$1.4M
Market Conditions
NOI Build-Up for 8,520 SF
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.
Gross rent
$184.0K $21.60/SF
− Vacancy
−$10.3K −$1.21/SF
EGI
$173.7K $20.39/SF
− OpEx
−$52.1K −$6.12/SF
NOI
$121.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,432,160
Cap Rate 7%
$1,737,257
Cap Rate 9%
$1,351,200
Alternative Uses
Best Use
Multifamily LT 5
$2.04M
$1.78M – $2.38M
NOI $142,592 @ 7.0% cap · market cap 10.20%
Second Best
Apartment 5plus
$1.87M
$1.64M – $2.18M
NOI $131,021 @ 7.0% cap · market cap 9.37%
Theoretical Best
Office A
$2.22M
$1.95M – $2.60M
NOI $155,732 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,437
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Mixed-use building with three street-level storefronts and three 2-bedroom apartments on the second floor.
Where is this triplex located?
The property is located at 59 Broadway Paterson, NJ.
What is the asking price?
The asking price for this property is $1,398,000.
What are key features of this property?
This property features: Mixed‑use building with 3 street‑level storefronts and 3 second‑floor 2BR apartments; Total annual rent income of $180,000 and net income of $118,860 for an 8.5% return; Level lot building with mixed‑use layout in a busy downtown area
