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71 Wayne Ave
Paterson, NJ 07522
Industrial Property For Sale
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.
Property Facts
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.79% | Rentable Building Area | 4,080 SF |
| Sale Condition | Redevelopment Project | No. Stories | 2 |
| Property Type | Industrial | Year Built | 1890 |
| Zoning | R-3 - R/C - 3: High Medium Density Mixed Use | ||
| 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
Property Taxes
| Parcel Number | 08-01406-0000-00009 | Improvements Assessment | $431,254 CAD |
| Land Assessment | $63,387 CAD | Total Assessment | $494,642 CAD |
Property Taxes
Parcel Number
08-01406-0000-00009
Land Assessment
$63,387 CAD
Improvements Assessment
$431,254 CAD
Total Assessment
$494,642 CAD
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