171–181 MARKET STREET
Mixed Use | 4.82% CAP | 119,736 SqFt
Marketing description
Prime downtown Paterson retail corridor with excellent visibility.
Tax appeal in process aiming to cut annual tax by ≈ $33 K.
Approved plans for 48-unit apartment conversion — major redevelopment potential.
Diverse tenant mix: restaurant, telecom, retail, beauty, dental, daycare, tattoo.
Value-add opportunity via lease-up, modernization, and long-term reposition
Investment highlights
Exceptional visibility along Paterson’s main retail corridor in the heart of downtown
Redevelopment potential with approved 48-unit residential conversion plans
Strong tenant diversity supporting steady cash flow and low vacancy risk
Ongoing tax appeal projected to lower annual expenses by about $33,000
Attractive value-add opportunity through upgrades, tenant optimization, and long-term repositioning
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