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480 Union Ave 1,316 SF of Retail Space Available in Paterson, NJ 07522
HIGHLIGHTS
- Fully renovated in 2018 with upgraded systems and finishes
- Located next to a high-traffic car wash for built-in visibility
- Equipped for auto and bus repair, including large vehicle capacity
SPACE AVAILABILITY (1)
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 1,316 SF | Negotiable | $89.10 CAD/SF/YR $7.43 CAD/SF/MO $117,258 CAD/YR $9,771 CAD/MO | TBD |
1st Floor
With its proximity to major thoroughfares and a strong local demographic, this asset offers both operational efficiency and long-term upside. Whether continuing its current use or repositioning for another retail or service function, 480 Union Ave is a compelling investment in the heart of Passaic County.
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS
| Total Space Available | 1,316 SF | Gross Leasable Area | 1,316 SF |
| Property Type | Retail | Year Built/Renovated | 1960/2018 |
| Property Subtype | Auto Repair | Parking Ratio | 10/1,000 SF |
| Total Space Available | 1,316 SF |
| Property Type | Retail |
| Property Subtype | Auto Repair |
| Gross Leasable Area | 1,316 SF |
| Year Built/Renovated | 1960/2018 |
| Parking Ratio | 10/1,000 SF |
ABOUT THE PROPERTY
Positioned in one of Paterson’s busiest corridors, 480 Union Ave presents a rare opportunity to acquire a fully renovated auto repair facility with exceptional visibility and functionality. This freestanding retail complex underwent a comprehensive renovation in 2018, including upgrades to electrical, plumbing, and heating systems, along with a newly paved driveway and a $12,000 camera security system. The interior and exterior have been modernized to support both auto and bus repair operations, with equipment in place to service vehicles ranging from passenger cars to 30-passenger school buses. Strategically located next to a high-traffic car wash, the property benefits from consistent vehicular exposure and a built-in customer base. The site includes two-car width parking and is served by public water, sewer, and natural gas. Zoned COMM B2, the property supports a variety of commercial uses and is ideal for owner-users or investors seeking a turnkey operation in a dense urban market. Lease Value: $7,000/Month + Taxes + Insurance. Do not visit property without approval from the listing agent. Call or text 201-918-3200 to set up the showing.
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480 Union Ave
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