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64 Main St Paterson, NJ 07505-1024

OFF-MARKET Commercial real estate Google Maps
7,172 SF 0.06 ac lot
Entity Owned 4-yr Hold Absentee Owner Free & Clear
Estimated value (blended)
$350k
Range $315k – $385k (±10%)
Property ID US59-2971732

Property summary

AI-generated overview

This exceptional commercial property, located at 64 Main Street in Paterson, New Jersey, presents a compelling investment opportunity. The property is classified as "Other," offering a versatile space ideal for a variety of commercial uses. Priced at $865,000, this asset sits on a lot measuring zero acres. While the precise square footage is not currently specified, the property's central location on Main Street in Paterson offers significant potential for high visibility and foot traffic. The absence of specified square footage necessitates an on-site inspection to fully assess the property's dimensions and layout. This allows for a unique opportunity to tailor the space to a specific business plan. Paterson's vibrant and growing economy provides a strong foundation for commercial success, making this property an attractive investment for those seeking a foothold in a dynamic market. Further due diligence is encouraged to fully understand the property's potential and to determine its suitability for intended commercial use. The property's location on Main Street offers excellent accessibility and visibility, making it an ideal location for a variety of businesses. Interested parties are encouraged to schedule a viewing to explore the possibilities this unique property offers. The asking price reflects the property's potential and strategic location within the Paterson commercial landscape.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Construction BRICK
Total area 7,172 SF
Lot 0.06 ac (2,772 SF)
Zoning code B-4
APN 08 04507-0000-00003
UPID US59-2971732

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Church
  • Furniture & Home Goods
  • Church

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$350k
CAP Approach CAP
by Request
Comparable Approach Comparable
$600k
Blend (final) Blend
$350k

Owner & transaction history

since 2021
Last sale
$650,000
2 recorded transactions
2021
$350,000
2013
$100,000

Zoning & alternative use

B-4 · Paterson, NJ
Zoning description

H. B‐4 Central Business District: The purpose of this district is to foster the development of a vibrant, pedestrian‐friendly, and accessible downtown that is the center of commerce and civic activity. The Central Busine…

General category CIVIC_INSTITUTIONAL

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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