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71 Wayne Ave 4,080 SF 100% Leased Industrial Building Paterson, NJ 07522 $934,130 CAD ($228.95 CAD/SF) 6.79% Cap Rate
Investment Highlights
- strong income potential paired with versatility
- prime mixed-use location
Executive Summary
Rare opportunity to acquire a well-maintained mixed-use property in the heart of Paterson.
This versatile asset features a spacious residential unit, a separate mechanic shop, a full basement with 9-foot ceilings ideal for storage, and an income-producing garage. Together, the property generates approximately $61,200 in gross annual income, offering strong cash flow and excellent investment potential.
Property Highlights:
Top floor: $1,900/mo (lease expires Feb 2026)
First floor: $2,000/mo (no lease – flexible terms)
Garage: $1,200/mo (steady tenant)
Projected 5.2% CAP rate with room for rental growth
Prime location near major highways, schools, parks, and public transportation
Separate utilities and low operating expenses
This property offers strong cash flow with immediate upside potential through rent adjustments or repositioning. Ideal for investors seeking stable income or owner-occupants looking to offset living costs with additional rental income.
This versatile asset features a spacious residential unit, a separate mechanic shop, a full basement with 9-foot ceilings ideal for storage, and an income-producing garage. Together, the property generates approximately $61,200 in gross annual income, offering strong cash flow and excellent investment potential.
Property Highlights:
Top floor: $1,900/mo (lease expires Feb 2026)
First floor: $2,000/mo (no lease – flexible terms)
Garage: $1,200/mo (steady tenant)
Projected 5.2% CAP rate with room for rental growth
Prime location near major highways, schools, parks, and public transportation
Separate utilities and low operating expenses
This property offers strong cash flow with immediate upside potential through rent adjustments or repositioning. Ideal for investors seeking stable income or owner-occupants looking to offset living costs with additional rental income.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$84,072
|
$20.61
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$84,072
|
$20.61
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $84,072 |
| Annual Per SF | $20.61 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $84,072 |
| Annual Per SF | $20.61 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $934,130 CAD | Property Type | Industrial |
| Price Per SF | $228.95 CAD | Lot Size | 0.06 AC |
| Sale Type | Investment | Rentable Building Area | 4,080 SF |
| Cap Rate | 6.79% | No. Stories | 2 |
| Sale Condition | Redevelopment Project | Year Built | 1890 |
| Zoning | R-3 - R/C - 3: High Medium Density Mixed Use | ||
| Price | $934,130 CAD |
| Price Per SF | $228.95 CAD |
| Sale Type | Investment |
| Cap Rate | 6.79% |
| Sale Condition | Redevelopment Project |
| Property Type | Industrial |
| Lot Size | 0.06 AC |
| Rentable Building Area | 4,080 SF |
| No. Stories | 2 |
| Year Built | 1890 |
| Zoning | R-3 - R/C - 3: High Medium Density Mixed Use |
Amenities
- Front Loading
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 08-01406-0000-00009 | Improvements Assessment | $426,122 CAD (2025) |
| Land Assessment | $62,633 CAD (2025) | Total Assessment | $488,755 CAD (2025) |
Property Taxes
Parcel Number
08-01406-0000-00009
Land Assessment
$62,633 CAD (2025)
Improvements Assessment
$426,122 CAD (2025)
Total Assessment
$488,755 CAD (2025)
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71 Wayne Ave
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