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541 Union Ave 1,928 SF Vacant Retail Building Paterson, NJ 07522 $718,042 CAD ($372.43 CAD/SF) 10.71% Cap Rate
Investment Highlights
- Sits at the corner of a signalized intersection.
- In close proximity to public transit stop.
Executive Summary
Totally renovated 2023 Excellent opportunity to own a mixed- use building near the center of Paterson. First floor EL CUBETAZO BAR & KARAOKE & SPORTS sale without liquor license second floor 2BRS combo LR kit full bath central air full unfinished basement 1/2 bath. Brand new refrigeration equipment, 2 glass door back bar coolers, 1 bottle cooler and 1 ICE machine 3-compartment sink, 1 additional sink, 2 ice bins with 7 circuit boards, 1 glass rack and 1 glasswasher machine 2 soda gun system connected to the ice bin 1 additional standing freezer (apartment)Granite countertop Brand new furniture, bar stools & tables, regular chairs & tables, and leather couches Crown molding LED lighting Recessed ceiling lighting 2 JBL speakers 10 in-ceiling speaker SONOS system 13 Samsung Smart TVs Fully wired Ethernet cabling for every Smart TV HDMI wiring for every Smart TV HDMI switch HDMI splitter 1 EPSON projector plus 120' electric screen Digital LED display for front window Hardwood floor.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
1,928 SF
Building Class
B
Year Built
1950
Price
$718,042 CAD
Price Per SF
$372.43 CAD
Cap Rate
10.71%
NOI
$76,933 CAD
Percent Leased
Vacant
Tenancy
Multiple
Building Height
1 Story
Building FAR
1.44
Lot Size
0.03 AC
Zoning
B-2 - general commercial uses
Frontage
Amenities
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Newly renovated in 2023 restaurant and bar space for lease.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 1,928 SF | Restaurant | - | Now |
1st Floor
| Size |
| 1,928 SF |
| Space Use |
| Restaurant |
| Position |
| - |
| Available |
| Now |
1st Floor
| Size | 1,928 SF |
| Space Use | Restaurant |
| Position | - |
| Available | Now |
Newly renovated in 2023 restaurant and bar space for lease.
Exceptionally walkable
90/100
Moderately drivable
70/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 08-00610-0000-00004 | Improvements Assessment | $269,559 CAD |
| Land Assessment | $53,008 CAD | Total Assessment | $322,567 CAD |
Property Taxes
Parcel Number
08-00610-0000-00004
Land Assessment
$53,008 CAD
Improvements Assessment
$269,559 CAD
Total Assessment
$322,567 CAD
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541 Union Ave
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