89 Market St, Paterson, NJ 07505
Commercial - Paterson City, NJ
- Added:
- Apr 30, 2026
- Days on Market:
- 47
- Last Refresh:
- Jun 15 at 6:06 am
Property Features for 89 Market St
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- B-4
- Rooms
- Basement
- Basement Y/N
- 1
- Standard status
- Active
- Size
- 4,744 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 18545
Utilities
- Heating system
- Baseboard, Hot Water (Heating)
Building Details
- Year built
- 1910
- Floors in Building
- 3
- Number of units
- 5
- Building materials
- Block, Brick
- Roof type
- Flat, Rubber
- Architectural style
- Other
Listing agent RYAN PALIANTO (908) 656-1650
Listing office SERHANT NEW JERSEY LLC 830 MORRIS TURNPIKE, Short Hills, NJ (973) 315-5959
Listing date Apr 30, 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
- Stable commercial income from long‑standing liquor store/bar on the ground floor with high visibility.
- One vacant 2‑bedroom apartment (available 4/1/2026) offers immediate renovation and rent upside potential ($1600).
- Separate utilities for all units.
- Mixed‑use configuration appeals to renters seeking convenience near transportation, shopping, and local businesses.
- Value‑add potential in two residential units for modernization and increased long‑term returns.
- Solid base of income with room to improve performance in an evolving urban market.
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 | $142.3k | $30.00 |
| − Vacancy | −$9.7k | −$2.04 |
| EGI | $132.6k | $27.96 |
| − OpEx | −$59.7k | −$12.58 |
| NOI | $73.0k | $15.38 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Paterson
- County
- Passaic
- State
- New Jersey
- Longitude
- -74.1745
- Latitude
- 40.91583
