Property profile

517-519 Park Ave 519 Paterson, NJ 07504

OFF-MARKET
Commercial real estate
Property ID
US59-2677151
4,236 SF 0.1 ac lot
Entity Owned 2-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional mixed-use property, located at 517-519 Park Avenue in Paterson, New Jersey, presents a compelling investment opportunity. Priced at $879,000, the property offers significant potential for income generation and future appreciation. While the exact square footage is not currently specified, the property's classification as "Other" suggests a versatile layout suitable for a variety of commercial and/or residential uses. The absence of acreage information indicates the property is likely situated on a standard city lot. Its prime location on Park Avenue in Paterson offers excellent visibility and accessibility, making it an attractive proposition for businesses seeking a strong presence in a vibrant urban setting. The property's potential is further enhanced by its location within Paterson, a city experiencing growth and development. Serious investors are encouraged to conduct their own due diligence to fully assess the property's potential and suitability for their specific investment goals. This is a rare opportunity to acquire a well-situated property in a dynamic market, offering a strong return on investment for the discerning buyer. Further details regarding the property's specific features and zoning regulations can be obtained through the appropriate channels. Don't miss this chance to secure a valuable asset in a thriving New Jersey community.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Construction FRAME
Total area 4,236 SF
Lot 0.1 ac (4,200 SF)
Zoning code B-1
APN 08 08605-0000-00012
UPID US59-2677151

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

517-519 Park Ave, Unit 519 Paterson, NJ 07504-1533
Paterson metro Census 182501 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$860k
Comparable Approach Comparable
$850k
Blend (final) Blend
$405k

Owner & transaction history

since 2024
Last sale
$750,000
2 recorded transactions
2024
$405,000
2007
$200,000

Zoning & alternative use

B-1 · Paterson, NJ
Zoning description

E. B‐1 Neighborhood Business District: The intent of the B‐1 Neighborhood Business District is to provide low‐intensity, neighborhood scale retail and personal service businesses that supply the everyday needs of residen…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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