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    61 Paterson Ave Hoboken, NJ 07030

    Sponsored
    For Sale
    $2,999,999

    Prime Hoboken location, mixed-use potential.

    Property size:
    5,119 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional Hoboken investment property at 61-65 Paterson Avenue presents a compelling commercial development opportunity. The property encompasses two lots totaling 5,119 square feet, strategically located in the heart of downtown Hoboken. One lot features a commercial structure, while the adjacent lot houses a two-family home. Lot sizes are 25x74 feet (Lot 00010) and 50x65 feet (Lot 00008). The existing building offers 5,119 square feet of space, currently configured as a retail storefront and multifamily units (3 total units). This property benefits from its prime location adjacent to a public park, providing convenient access to both local amenities and major transportation arteries. Its proximity to the Light Rail and PATH train offers easy commuting options. The surrounding area is characterized by new luxury developments, reflecting the ongoing growth and desirability of this vibrant neighborhood. This property is part of the Southwest Redevelopment Plan, suggesting significant future development potential. The asking price for this unique mixed-use property is $2,999,999. This presents a rare chance to acquire a substantial holding in a rapidly developing area of Hoboken, New Jersey, with significant upside potential for both immediate income generation and future development. The property's zoning and location make it ideal for a variety of commercial and residential uses.

    Property Features for 61 Paterson Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    5,119 SF

    Building Details

    Units
    3

    HighLights

    • Exceptional Hoboken investment opportunity: two lots totaling 5,119 sq ft, prime downtown location.
    • Two lots (25x74 ft & 50x65 ft) with existing 5,119 sq ft commercial building & two‑family home.
    • Mixed‑use property: retail storefront and three multifamily units.
    • Prime location adjacent to a park, near Light Rail & PATH train.
    • Southwest Redevelopment Plan area, high future development potential.
    • Asking price: $2,999,999.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hoboken
    County
    Hudson
    State
    New Jersey
    Longitude
    -74.0420282
    Latitude
    40.7382042

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    FAQs

    What type of property is this?
    Individual retail property - Prime Hoboken location, mixed-use potential.
    Where is this individual retail property located?
    The property is located at 61 Paterson Ave Hoboken, NJ.
    What is the asking price?
    The asking price for this property is $2,999,999.
    What are key features of this property?
    This property features: Exceptional Hoboken investment opportunity: two lots totaling 5,119 sq ft, prime downtown location.; Two lots (25x74 ft & 50x65 ft) with existing 5,119 sq ft commercial building & two-family home.; Mixed-use property: retail storefront and three multifamily units.
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    61 Paterson Ave Hoboken, NJ 07030
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    Hoboken, NJ 07030
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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
    61 Paterson Ave Hoboken, NJ 07030
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