89 3Rd AvePaterson, NJ 07514

This exceptional mixed-use property at 89 3rd Avenue in Paterson, New Jersey, presents a compelling investment opportunity. The property boasts a 9.15% capitalization rate and a strong 100% occupancy rate, generating a substantial net operating income (NOI) of $118,092 annually. Comprising two buildings on a corner lot, this two-story structure includes one commercial unit (a restaurant), two residential units (one apartment and one single-family home), and eight garages, plus three additional off-street parking spaces. Each unit features separate utilities (heat, gas, electric, and hot water), offering convenient management and potential for individual upgrades. The property is zoned for commercial use and offers a total monthly gross income of $11,983, translating to a yearly gross income of $143,796. Annual expenses total $25,704. This well-maintained property in Passaic County, NJ (zip code 07514) is priced at $1,290,000 and represents a rare chance to acquire a high-performing mixed-use asset in a desirable location. The property's strong cash flow and high occupancy make it an attractive investment for both seasoned and new investors seeking a stable and profitable return.