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Listed by Iris E. Huertas Keller Williams Town Life
$1,350,000
Est. payment /mo
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26024406
Style Retail
Property Sub-Type Retail
Property Description
VALUE ADD INVESTMENT OPPORTUNITY. Located in the heart of Downtown Passaic, this mixed use building offers an excellent value add investment opportunity along one of the city’s busiest corridors, providing outstanding visibility, strong pedestrian traffic, and excellent vehicle exposure. The property features two approx. 1,140 sq./ft ground floor retail storefronts and seven second-floor office suites ranging from approx. 170 sq./ft. to 505 sq./ft. with flexible layouts that can be combined for larger professional users. Both retail storefronts are occupied, with leases approaching renewal, creating an opportunity to reposition rents to current market levels. The second floor offers significant lease up potential, providing a clear path to increasing occupancy and cash flow. The property has been well maintained and includes an updated flat roof (2019), updated HVAC systems, updated thermostats, a full basement. A great value add investment with immediate income and substantial upside through lease up and future rent growth.
Location
State NJ
County Passaic
Interior
Heating Central Air, Electric, Gas
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