597-599 River StPaterson, NJ 07524
- Other commercial real estate
- 5,167 SF
Property Details for 597-599 River St
- Construction
- BRICK
- Lot size
- 0.04 AC
- Property size (Sq ft)
- 5,167 SF
- Zone code
- MU
- Property type
- Other commercial real estate
- APN
- 08 02004-0000-00017
- APU
- 802004000000017
Description
This exceptional all-brick, mixed-use property in Paterson, NJ, presents a compelling investment opportunity. Located on a bustling commercial street within a rapidly developing area, this building offers a balanced income stream from both residential and commercial tenants. The property features two spacious, updated three-bedroom apartments, each currently generating $2,000 in monthly rent, and two versatile commercial units. One commercial unit, a grocery store, also brings in $2,000 per month, while the other generates $900 monthly. The apartments are in excellent condition, ensuring high tenant desirability. The commercial units offer significant potential for growth, capitalizing on the neighborhood's upward trajectory and numerous new construction projects. Low property taxes further enhance the profitability of this investment. Situated at 597-599 River St, Paterson, NJ 07524, this property offers a rare combination of stability, growth potential, and strong cash flow, making it an ideal addition to any investment portfolio. The asking price is $949,900.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
Alternative Use
- Use
- Valuation
- Residential
- $977,798
- Hospitality
- $895,658
- Educational
- $745,177
- Medical
- $770,805
- Retail
- $1,159,164
Location Insight
- City
- Paterson
- County
- Passaic
- State
- New Jersey
- Latitude
- 40.9341
- Longitude
- -74.1561
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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