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32683886
32683887

285 Monroe Street, Passaic, NJ 07055 For Sale

Joseph Aziz Real Estate
Listed by Joseph Aziz Real Estate
$2,500,000
62 days on market
Updated 33 days ago
Opportunity zone

285 Monroe Street

Details
Property Type Retail, Mixed Use
Sub Type Storefront
Square Footage 6,708
Cap Rate 6.67%
NOI $166,735
Occupancy 100%
Tenancy Multi
Lease Type Gross
Year Built 1925
Lot Size (SqFt) 7,501
Zoning Multi-Use
Parking Spaces 7 spaces
Parking per 1,000 SqFt 1.04
Investment Type Redevelopment
Ground Lease No

Mixed-Use Redevelopment Site w/ Strong Value-Add Potential in Passaic’s Growing Monroe St Corridor

Marketing description

A Prime Mixed-Use Redevelopment Opportunity

Positioned along the active Monroe Street corridor, 281–285 Monroe Street presents a rare mixed-use asset with significant redevelopment upside in one of Passaic’s steadily evolving urban submarkets.

Surrounded by residential buildings, neighborhood retail, and established commercial activity, the property sits within a proven corridor benefiting from ongoing reinvestment and rising investor demand.

This is a true value-add redevelopment site, ideal for developers seeking to unlock long-term value through repositioning, increased density, or ground-up redevelopment. The existing mixed-use configuration offers interim income potential, while the underlying value is driven by the site’s land position and redevelopment potential supported by local zoning.

The immediate area features strong pedestrian traffic, daily convenience retail, and proximity to major transportation routes, offering seamless connectivity to Northern New Jersey employment hubs and direct access to New York City.

As Passaic continues targeted revitalization along key corridors, Monroe Street remains a focal point for infill development and urban renewal, reinforcing long-term growth fundamentals and investor confidence.

An exceptional opportunity for developers focused on scale, density, and long-term urban value creation.

Listing Contacts

Joseph Aziz Real Estate
Listed by Joseph Aziz Real Estate

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$166,735.00
$13,894.58/mo

Valuation Metrics

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DSCR
6.67%
Cap Rate
6.67%
ROI

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