Industrial Building with Corner
90 2nd Avenue Paterson, NJ 07514
90 2nd Avenue, Paterson, NJ, 07514
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For Sale
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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$180
Days on Market9
Property Features for 90 2nd Avenue
General Information
- Standard status
- Active
- Size
- 15,000 SF
- Lot size
- 0.16 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1920
Listing Agency
Horvath & Tremblay
(201) 215-1801
Listed by
Michael Lombardi · License #0569706
Source
Crexi
Added: Jul 9 Checked: Jul 15 at 11:19 pm
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)
Local Financial Insights For Industrial
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 | $259.2k | $17.28 |
| − Vacancy | −$15.6k | −$1.04 |
| EGI | $243.6k | $16.24 |
| − OpEx | −$73.1k | −$4.87 |
| NOI | $170.6k | $11.37 |
15,000 SF · lease $17.28/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Industrial
$2.44M
$2.13M – $2.84M
NOI $170,554 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.92M
$3.43M – $4.57M
NOI $274,176 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Urban Millwork & Design
Hardware & Home Improvement
Door Discount Center
Hardware & Home Improvement
Paterson Garage Door ...
Building Supply
Lenin auto sound ...
Auto Parts Store
Similar For Sale Nearby
FAQs
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 $2,700,000.
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)
