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$ 3,000,000
Est. payment /mo
Active
203 Market St Paterson City, NJ 07505
3,500 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 3,500 sqft
Price per Sqft $857
MLS Listing ID 4010141
Year Built 1900
Annual Tax Amount $57,221
Tax Year 2024
Lot Size 6,098 Sqft
Property Description
Prime income-producing commercial building in the heart of Paterson's Central Business District. Situated on highly trafficked Market Street, this 3-story masonry property offers approximately 13,107 SF of downtown real estate with immediate cash flow and significant upside potential. The first floor features a leased retail storefront (approx. 6,500 SF) and the third floor includes leased office space (approx. 3,500 SF), providing strong in-place income. The second floor (approx. 3,500 SF) offers clear value-add potential. The property also includes rear land behind the building, creating additional expansion or development opportunity (subject to municipal approvals). Zoned B-4 CBD, supporting a variety of commercial and mixed-use possibilities. Based on zoning parameters and preliminary concepts, there may be potential for residential conversion with conceptual estimates ranging from approximately 40"90 units, subject to architectural design and full city approvals. Buyer to perform independent due diligence. Excellent opportunity for investors, developers, or owner-users seeking cash flow with long-term growth potential.
Location
State NJ
County Passaic
Zoning B4
Rooms
Basement Finished, Storage
Interior
Heating Gas-Natural
Cooling Wall A/C Unit(s)
Flooring Carpeting, Concrete
Equipment Fire Alarm, Fixtures, Office Equipment, Restrooms - Private, Sprinkler System, Storage Area(s)
Heat Source Gas-Natural
Exterior
Exterior Feature Brick/Block, Concrete
Utilities Available See Remarks
Roof Type Built-Up
Building
Story 3
Sewer See Remarks
Water Public Water
Others
Ownership Fee Simple
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Listed by KELLER WILLIAMS PARK VIEWS
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