300 Main St, Paterson, NJ 07505 For Sale

300 Main Street presents a rare investment or owner-user opportunity in the heart of Downtown Paterson, one of Northern New Jersey’s most active urban corridors. This 81,268 square foot, six-story masonry building offers substantial redevelopment potential, flexible B-4 zoning, and immediate income potential through a proposed owner leaseback.

The property is well-positioned for a wide range of commercial and mixed-use applications, including retail, office, storage, residential conversion, or adaptive reuse. The first and second floors are ideally suited for retail or commercial use, while the upper floors are currently utilized for storage. Ownership is open to leasing back occupied portions of the building at market rents, creating day-one yield while a buyer advances redevelopment plans.

The building features two drive-in doors, one exterior loading dock, and two elevators, including freight elevator access. Typical floor plates are approximately 13,545 square feet, with generous ceiling heights of approximately 12.4 feet, providing flexibility for a variety of layouts and uses. Ownership has also successfully appealed the property taxes, reducing the annual tax liability to approximately $78,000.

Located within a designated DCHD Opportunity Zone, the property may qualify for valuable federal and state tax incentives, including potential capital gains deferral and long-term investment benefits. The site also benefits from Paterson’s continued downtown revitalization, including public and private investment focused on improving walkability, business activity, and long-term property values.

The Main Street corridor is experiencing renewed momentum, driven by mixed-use development, transit-friendly planning, and increased demand for urban commercial and residential space. With approximately 50 feet of Main Street frontage, a Walk Score of 97, and proximity to major transportation routes, 300 Main Street is ideally positioned to capitalize on Downtown Paterson’s growth trajectory.

Seller financing may be available. Ownership is open to structuring a transaction at a $4,500,000 purchase price with a $1,000,000 seller note at a mutually agreed-upon interest rate, held for two years while the investor completes the redevelopment process.