111-115 Washington St Paterson, NJ 07505
- Office Properties & Spaces
- 20,000 SF
Current Use by Public Records
- Office Properties & Spaces
Property Details for 111-115 Washington St
- Property size
- 20,000 SF
- Property type
- Office Properties & Spaces
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Paterson
- County
- Passaic
- State
- New Jersey
- Longitude
- -74.1719
- Latitude
- 40.9178
