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Executive Summary

Location, Location, Location! An unbeatable investment opportunity awaits the savvy investor in the absolute heart of downtown. This impressive 6-level mixed-use building offers the perfect blend of steady residential income and high-visibility commercial potential.
The ground floor features a premier retail space boasting high-foot-traffic visibility and massive windows—perfect for attracting top-tier commercial tenants. Rising above are 5 spacious residential units, providing a robust and diversified income stream.
Financial & Utility Highlights:
Gross Rental Income: $126,840/year (with incredible upside potential, as one apartment is currently vacant and ready to be rented at market rate).
Net Operating Income (NOI): $73,418/year.
Separate Utilities: Tenant-friendly setup. Tenants pay for their own heat, gas, and electric. Landlord is only responsible for water.
The property is being sold strictly "AS-IS," making it a seamless acquisition for an investor looking to add a high-yielding asset to their portfolio or capitalize on value-add potential in a thriving downtown district.
Don't miss out on this turnkey powerhouse with built-in growth.

Attachments

loopnet PDF

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
8,606 SF
Building Class
C
Year Built
1913
Price
$1,960,083 CAD
Price Per SF
$227.76 CAD
Cap Rate
5.25%
NOI
$102,863 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
6 Stories
Building FAR
4.32
Lot Size
0.05 AC
Opportunity Zone
Yes
Zoning
B4, Paterson City

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease End
  • Ama Mobile Store
  • Retailer
  • -
  • -
  • -
  • Information
  • -
  • -
  • -

Cricket offre des forfaits abordables, un excellent service à la clientèle et une tonne d'extras. Le tout sur leur réseau 5G rapide et fiable ! Cricket est un fournisseur de services sans fil qui offre des téléphones mobiles prépayés, des plans de couverture et une gamme d'accessoires. Ils aident les clients à moins stresser et à sourire davantage en offrant une expérience sans fil facile, de haute qualité et abordable.

Tenant Industry SF Occupied Rent/SF Lease End
Ama Mobile Store Retailer - - -
Information - - -
Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
90/100
Fairly bikeable
50/100

Nearby Major Retailers

Bank of America
Bank of America Mortgage
Td Bank
Surf City Squeeze
Blimpie
Chase
PNC Bank
Checkers
Planet Fitness
Key Food

Property Taxes

Property Taxes

Parcel Number
08-04501-0000-00033
Land Assessment
$322,506 CAD
Improvements Assessment
$1,125,168 CAD
Total Assessment
$1,447,673 CAD
  • Listing ID: 40300309

  • Date on Market: 2026-04-26

  • Last Updated:

  • Address: 242-244 Main St, Paterson, NJ 07505

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