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    111-115 Washington St Paterson, NJ 07505

    For Sale
    $10,000,000

    Prestigious A-Class Office Space, 20,000 SF

    Property size:
    20,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional Class A executive office building, located at 111-115 Washington Street in Paterson, New Jersey (zip code 07505), presents a unique investment opportunity. The 20,000 square foot building boasts a blend of pre-war architectural charm and modern, state-of-the-art design, creating a prestigious and highly desirable workspace. Situated in Paterson's historic district, this prime location offers unparalleled convenience, with proximity to NJ Transit, readily accessible parking garages, and adjacency to both county and city courthouses. Currently, two floors are fully occupied by financially sound tenants, demonstrating strong rental income potential. The first floor also enjoys high occupancy, with only a single unit (under 2000 square feet) currently available. A recent, comprehensive gut renovation ensures the building is in excellent condition. Further enhancing its value proposition, the sub-level includes two approved units ready for future development and lease. The asking price for this remarkable property is $10,000,000. This is a rare opportunity to acquire a high-quality, well-located, and income-producing asset in a thriving New Jersey market.

    Property Features for 111-115 Washington St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    20,000 SF
    Class
    A

    HighLights

    • Class A executive office building, 20,000 square feet, located at 111‑115 Washington Street, Paterson, NJ 07505.
    • Prestigious location in Paterson's historic district, near NJ Transit, parking, and courthouses.
    • Two floors fully occupied by strong tenants, generating significant rental income.
    • First floor nearly fully occupied, with one suite (under 2000 SF) available for lease.
    • Recently renovated, excellent condition.
    • Sub‑level with two approved units ready for future development and lease.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Gym & Fitness Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Paterson
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.171864
    Latitude
    40.917802

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    FAQs

    What type of property is this?
    Office Property / Space - Prestigious A-Class Office Space, 20,000 SF
    Where is this office property / space located?
    The property is located at 111-115 Washington St Paterson, NJ.
    What is the asking price?
    The asking price for this property is $10,000,000.
    What are key features of this property?
    This property features: Class A executive office building, 20,000 square feet, located at 111-115 Washington Street, Paterson, NJ 07505.; Prestigious location in Paterson's historic district, near NJ Transit, parking, and courthouses.; Two floors fully occupied by strong tenants, generating significant rental income.
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    Paterson, NJ 07505
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    111-115 Washington St Paterson, NJ 07505
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