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199-201 Market Street 5 Unit Apartment Building For Sale Paterson, NJ 07505
Investment Highlights
- Current Tenants: Club Caribe, Classic Furniture, Tijuana Bar & Grill
- Property Tax: $1,973.05/Unit (2024)
Executive Summary
199–201 Market Street is an inline mixed-use building located in the heart of Downtown Paterson, New Jersey. The property totals approximately 14,661 square feet and is situated along Market Street, one of the city’s primary commercial corridors, benefiting from strong vehicular traffic and dense surrounding retail activity.
The building is currently occupied by a mix of local retail and restaurant tenants, including Club Caribe, Classic Furniture, and Tijuana Bar & Grill, providing in-place income within a vibrant urban setting. Zoned B-4 Central Business District, the property offers flexibility for a range of commercial and mixed-use applications.
Surrounded by national and regional retailers such as Dunkin’, Marshalls, Chase, and Popeyes, the asset is well-positioned within an established retail node. The area is supported by strong traffic counts and a sizable residential population, with over 136,000 residents within a 1.5-mile radius. This offering presents an opportunity to acquire a prime urban mixed-use asset in a high-density, walkable downtown location.
The building is currently occupied by a mix of local retail and restaurant tenants, including Club Caribe, Classic Furniture, and Tijuana Bar & Grill, providing in-place income within a vibrant urban setting. Zoned B-4 Central Business District, the property offers flexibility for a range of commercial and mixed-use applications.
Surrounded by national and regional retailers such as Dunkin’, Marshalls, Chase, and Popeyes, the asset is well-positioned within an established retail node. The area is supported by strong traffic counts and a sizable residential population, with over 136,000 residents within a 1.5-mile radius. This offering presents an opportunity to acquire a prime urban mixed-use asset in a high-density, walkable downtown location.
Property Facts
| Sale Type | Investment | Lot Size | 0.19 AC |
| No. Units | 5 | Building Size | 14,661 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1954 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | B-4 | ||
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 14,661 SF |
| No. Stories | 3 |
| Year Built | 1954 |
| Opportunity Zone |
Yes |
| Zoning | B-4 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | - | - |
Exceptionally walkable
100/100
Moderately drivable
70/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 08-04405-0000-00028 | Improvements Assessment | $531,786 CAD |
| Land Assessment | $546,968 CAD | Total Assessment | $1,078,755 CAD |
Property Taxes
Parcel Number
08-04405-0000-00028
Land Assessment
$546,968 CAD
Improvements Assessment
$531,786 CAD
Total Assessment
$1,078,755 CAD
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199-201 Market Street
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