Industrial Building with Corner
For Sale
Contact for pricing
90 2nd Avenue, Paterson, NJ 07514
Three-story industrial building on a corner parcel with frontage on 2nd Avenue and E 23rd Street.
Property Size15,000 SF
Lot Size0.16 Acres
Price / SF$140
Days on Market97
Property Features for 90 2nd Avenue
General Information
Standard status
Active
Size
15,000 SF
Lot size
0.16 Acres
Property subtype
Industrial
Zoning
I-2 (Heavy Industrial District)
Investment Type
Redevelopment
Additional Details
Highway Access
Yes
Building Details
Year Built
1920
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Horvath & Tremblay
Listed By:
Michael Lombardi · License #0569706
(201) 215-1801
Source:
Crexi
Added: Jul 9
Changed: Oct 11
Last Checked: Oct 12 at 7:57PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
The property is a three-story industrial building totaling 15,000 square feet, situated on a 0.16-acre corner parcel. The site includes 73 feet of frontage along 2nd Avenue and 94 feet of frontage along E 23rd Street. The property is zoned I-2 (Industrial).
The building is currently occupied by Urban Millwork and Lenin Auto Sound & Tint. Urban Millwork’s space will be delivered vacant, while Lenin Auto Sound & Tint has two years remaining on their lease. The property is located at the intersection of 2nd Avenue and E 23rd Street, with convenient access to Interstate 80, New Jersey Route 19, U.S. Route 46, and the Garden State Parkway for regional connectivity throughout Passaic County and the greater New York metropolitan area.
The surrounding area reflects a dense mix of residential neighborhoods, commercial businesses, industrial facilities, and institutional uses.
The building is currently occupied by Urban Millwork and Lenin Auto Sound & Tint. Urban Millwork’s space will be delivered vacant, while Lenin Auto Sound & Tint has two years remaining on their lease. The property is located at the intersection of 2nd Avenue and E 23rd Street, with convenient access to Interstate 80, New Jersey Route 19, U.S. Route 46, and the Garden State Parkway for regional connectivity throughout Passaic County and the greater New York metropolitan area.
The surrounding area reflects a dense mix of residential neighborhoods, commercial businesses, industrial facilities, and institutional uses.
Key Highlights
- Three‑story, 15,000 SF commercial building built in 1920
- Corner parcel totals 7,013 SF (0.16‑acre) with 73' frontage on 2nd Avenue and 94' frontage on E 23rd Street
- Zoned I‑2 (Industrial)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$170,554
Cap Rate
8.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,411,080
$3.4M
Cap Rate 7%
$2,436,486
$2.4M
Cap Rate 9%
$1,895,044
$1.9M
Market Conditions
NOI Build-Up for 15,000 SF
Gross rent
$259.2K $17.28/SF
− Vacancy
−$15.6K −$1.04/SF
EGI
$243.6K $16.24/SF
− OpEx
−$73.1K −$4.87/SF
NOI
$170.6K $11.37/SF
Area
Paterson, NJ
Vacancy
6.00%
Lease Rate
$17.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,411,080
Cap Rate 7%
$2,436,486
Cap Rate 9%
$1,895,044
Alternative Uses
Best Use
Industrial
$2.44M
$2.13M – $2.84M
NOI $170,554 @ 7.0% cap · market cap 8.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.92M
$3.43M – $4.57M
NOI $274,176 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
793
Businesses Nearby
Explore this area
Business Placement
Demographics for 07514, NJ
19,200
Population
6,752
Households
2.8
Avg Household Size
37
Median Age
12%
College-Educated
78%
High-School Grad
0.9 sq mi
ZIP Area
21,333
Density / Sq Mi
$65,492
Median Household Income
$34,962
Median Earnings
$1,472
Median Rent
$314,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Three-story industrial building on a corner parcel with frontage on 2nd Avenue and E 23rd Street.
Where is this manufacturing property located?
The property is located at 90 2nd Avenue Paterson, NJ.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Three‑story, 15,000 SF commercial building built in 1920; Corner parcel totals 7,013 SF (0.16‑acre) with 73' frontage on 2nd Avenue and 94' frontage on E 23rd Street; Zoned I‑2 (Industrial)
