USANJPaterson242-244 Main St
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242-244 Main St, Paterson, NJ

Real Estate

For Sale

Listed price in listed location currency (USD).
$1,300,000

000

MLS® 26011325

  • Key Facts
  • Description
  • Map

Key Facts

Type Retail
Levels Commercial Sale
Size -
Garage No
HOA Fees 
Taxes $38,822
Days Active 11
Approx. Age 
MLS® Number 26011325

Property Address: 242-244 Main St, Paterson, NJ, 07505-1204

Average square foot calculated using Size range provided by listing agent.

Description

Prime Investment Opportunity in the Heart of Downtown Paterson! This massive, six-story mixed-use building is perfectly situated on Main Street, the city’s busiest thoroughfare, offering unbeatable visibility and high foot traffic. The property features a prime ground-floor retail space (currently a mobile store) and five expansive residential units, each boasting approximately 1, 800 sq. Ft. Of living space. With a current income of $119, 400 and significant rental upside, this asset is a true "value-add" play; by converting units into 3-bedroom apartments””commanding up to $2, 550 under Section 8””the potential gross income exceeds $200, 000. Four apartments and the retail space have been updated, and the sixth floor remains vacant, ready for immediate optimization. The building is equipped with separate utilities (tenants pay heat, gas, and electric), a full basement for storage, and solid mechanicals. Don't miss the chance to acquire a high-yield asset in a premier location with exceptional growth potential.
MLS® Number26011325
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age
Stories
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Apr 5, 2026List Date
$1,300,000List Price
  • Commute

Commute

Starting Address
Destination Address
242-244 Main St, Paterson, NJ

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