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Property profile & analytics
FOR SALE
Commercial real estate

541 Union Ave Paterson, NJ 07522

1,927 SF 0.03 ac lot
Entity Owned 5-yr Hold Free & Clear
Property ID
US59-2695247
Property summary
AI-generated overview

This exceptional business opportunity is located at 541 Union Avenue in the vibrant city of Paterson, New Jersey. Priced at $695,000, this property presents a significant investment potential for the right entrepreneur. While the square footage is not currently specified, the property is listed as a business opportunity, suggesting a versatile space adaptable to a range of commercial uses. The property sits on a lot with zero acres, indicating a potentially compact but strategically located site within Paterson. The address, 541 Union Avenue, suggests a location with high visibility and accessibility, potentially benefiting from significant foot or vehicle traffic. Further due diligence is recommended to ascertain the precise size and configuration of the interior space, as well as the zoning regulations and permitted uses for the property. This is an excellent chance to acquire a business in a dynamic urban setting. Interested parties are encouraged to conduct thorough research to determine the suitability of this property for their specific business needs and objectives. The absence of square footage information underscores the need for an on-site inspection to fully assess the property's potential. This property is being offered as-is, and prospective buyers should be prepared to conduct their own independent assessments of the property's condition and suitability for their intended use. The asking price of $695,000 represents a compelling entry point into the Paterson commercial market.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Construction FRAME
Total area 1,927 SF
Lot 0.03 ac (1,403 SF)
Zoning code B-2
APN 08 00610-0000-00004
UPID US59-2695247
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Ume Realty · 5 yrs held
Ume Realty
since 2021
Last sale
$200,000
7 recorded transactions
2021
$200,000
2003
$129,000
1999
$55,000
1999
$100
1997
$120,000
1969
Price N/A
1969
Price N/A
Zoning & alternative use
B-2 · Paterson, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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