423 Paterson Ave, East Rutherford, NJ 07073-1314
- Commercial real estate
- 944 SF
- 0.04 lot acres
Current Use by Public Records
- Rice Shop / Restaurant
Property Details for 423 Paterson Ave
- Year built
- 1970
- Construction
- FRAME
- Lot size
- 0.04 lot acres
- Property type
- Commercial real estate
- APN
- 12 00036-0000-00013
- APU
- 1200036000000013
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| May 6, 2025 | $300,000 | 423 Paterson Er LLC | 423 Paterson Realty INC | Deed | — |
| Aug 11, 2004 | $190,000 | 423 Paterson Realty INC | Gastelu,daniel | Grant Deed | $133k · Chinatown Fsb |
| — | — | 423 Paterson Realty INC | — | Deed Of Trust · related | $200k · Chinatown Fsb |
| — | — | 423 Paterson Ralty INC | — | Deed Of Trust · related | $50k · Abacus Fsb |
Description
This exceptional investment opportunity presents a 1,620-square-foot, single-tenant restaurant building situated at 423 Paterson Ave, East Rutherford, NJ 07073. The property, built in 1970 and classified as Class B, boasts a strong 8.75% capitalization rate, generating a net operating income (NOI) of $42,000. Currently leased with a remaining term of approximately 0.5 years, expiring May 31, 2025, the property offers a compelling return on investment. The asking price is $479,990, translating to a price per square foot of $296.29. Conveniently located in the heart of East Rutherford, this standalone building benefits from proximity to public transportation (bus and train station) and ample street parking, ensuring easy access for both employees and patrons. Furthermore, its location provides convenient access to major highways. The property is zoned B and is ideal for investors or owner-operators seeking a profitable venture in a high-traffic area. Please note that this sale is for the property only; do not disturb the tenant. A virtual tour is available.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- East Rutherford
- County
- Bergen
- State
- New Jersey
- Longitude
- -74.1006
- Latitude
- 40.8396
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
