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615 E 22nd St 2,772 SF 100% Leased Retail Building Paterson, NJ 07514 $1,203,003 CAD ($433.98 CAD/SF) 7.78% Cap Rate
Investment Highlights
- Great Ceiling Height
- Commerical Opportunity
- Income Potential
Executive Summary
Welcome to an incredible opportunity in the East Side Section of Paterson! This spacious and beautifully renovated 4-Unit Mixed-use property is perfect for both investors and owner occupants looking to maximize value and versatility. This fully updated building features two residential apartments and two storefronts, offering the ideal blend of cash flow potential and modern living. The first apartment boasts 4 bedrooms and 1.5 bathrooms with a bright and functional layout designed for comfort. The second apartment offers 2 bedrooms and 1 bathroom with impressive ceiling height that creates an open, airy feel throughout the space. Both units showcase stylish finishes and thoughtful updates that make them truly move in ready. In addition to the residential units, the property includes two ground level storefronts with flexible layouts, providing endless possibilities for business owners or strong rental income potential for investors. Conveniently located near schools, shopping, major highways, and public transportation, this property offers both accessibility and long term upside. Whether you are looking to expand your portfolio or own a mixed use building with multiple income streams, this is a rare opportunity you do not want to miss.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$139,439
|
$50.30
|
| Taxes |
$25,044
|
$9.03
|
| Operating Expenses |
$20,757
|
$7.49
|
| Total Expenses |
$45,802
|
$16.52
|
| Net Operating Income |
$93,637
|
$33.78
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $139,439 |
| Annual Per SF | $50.30 |
| Taxes (CAD) | |
|---|---|
| Annual | $25,044 |
| Annual Per SF | $9.03 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $20,757 |
| Annual Per SF | $7.49 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $45,802 |
| Annual Per SF | $16.52 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $93,637 |
| Annual Per SF | $33.78 |
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
2,772 SF
Year Built/Renovated
1900/2025
Price
$1,203,003 CAD
Price Per SF
$433.98 CAD
Cap Rate
7.78%
NOI
$93,637 CAD
Percent Leased
100%
Building Height
2 Stories
Building FAR
2.12
Lot Size
0.03 AC
Zoning
R-2
Walk Score®
Very Walkable (84)
Nearby Major Retailers
Property Taxes
| Parcel Number | 08-03417-0000-00008 | Total Assessment | $170,608 CAD (2025) |
| Land Assessment | $46,616 CAD (2025) | Annual Taxes | $25,044 CAD ($9.03 CAD/SF) |
| Improvements Assessment | $123,991 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
08-03417-0000-00008
Land Assessment
$46,616 CAD (2025)
Improvements Assessment
$123,991 CAD (2025)
Total Assessment
$170,608 CAD (2025)
Annual Taxes
$25,044 CAD ($9.03 CAD/SF)
Tax Year
2026
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615 E 22nd St
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