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242-244 Main Street, Paterson, NJ

$1,399,000

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About 242-244 Main Street

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,"

Features of 242-244 Main Street

MLS® # 26011325
Price $1,399,000
Bathrooms 0.00
Type Commercial Sale/Lease
Sub-Type Retail
Status Active

Community Information

Address 242-244 Main Street
City Paterson
County PASSAIC
State NJ
Zip Code 07505

Amenities

Utilities Sep Elec, Sep Gas,
Is Waterfront No
Waterfront None
Has Pool No

Interior

Heating Electric, Natural Gas, Hot Water
Cooling Electric, Gas,
Fireplace No
Has Basement No

Additional Information

Date Listed April 5th, 2026
Foreclosure No
RE / Bank Owned No

Listing Map

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