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$1,399,000/month

242-244 Main Street, Paterson NJ, 07505

Property typeCommercial
Listed by Vincent Lee with Realty 7, LLC 201-647-9964

Overview

Active

Active - Active

Listed Apr 5, 2026

Updated 4 days ago

Location, Location, Location! An unbeatable investment opportunity awaits the savvy investor in the absolute heart of downtown with this premier 6-level mixed-use building. The property features a high-visibility ground-floor retail space with large windows perfect for attracting maximum foot traffic, situated beneath 5 spacious residential units that provide a steady, diversified income stream. Financially optimized for low landlord oversight, all utilities are completely separate with tenants paying for their own heat, gas, and electric, while the landlord is only responsible for water. The asset currently generates a robust Net Operating Income (NOI) of $73,418 on a Gross Rental Income of $126,840, offering immediate, incredible upside potential to maximize your return since all rents feature a built-in 5% annual increase and one apartment is delivered vacant, ready for immediate market-rate rental. Sold strictly "AS-IS,"

Other Property Details

Taxes
$38,822
Tax Frequency
Annually
Association Fee Frequency
Monthly
MLS provider logo

Listed by Vincent Lee with Realty 7, LLC 201-647-9964

The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS.  Real estate listings held by brokerage firms other than Prominent Properties Sotheby's International Realty are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers.  Some properties listed with the participating brokers do not appear on this website at the request of the seller.  Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.

All information deemed reliable but not guaranteed.  Last date updated:  10/6/2026 

Source:  New Jersey Multiple Listing Service, Inc.

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