Commercial Real Estate in Paterson, New Jersey, offers a unique opportunity for investors seeking to capitalize on the city's rich history, diverse economy, and strategic location. As a significant hub for industrial growth, Paterson has a long history of attracting businesses and entrepreneurs, making it an attractive destination for those looking to invest in Commercial Real Estate. These properties can represent a wide range of investments, from office buildings and retail spaces to warehouses and manufacturing facilities. Paterson's amenities, infrastructure, location, education, and geography make it an ideal place to invest in Commercial Real Estate. The city is home to institutions like Passaic County Community College, and its proximity to major highways, including Interstate 80 and State Routes 4, 19, and 20, provides easy access to surrounding counties and New York City. Additionally, Paterson's cultural attractions, such as the Paterson Museum of Industrial History, and its diverse neighborhoods, like the Great Falls Historic District, make it a great place for business and travel.
With 67 Commercial Real Estate listings available in Paterson, investors have a wide range of options to choose from. The city's Commercial Real Estate market is characterized by an average price per square foot of $274 USD, with an average size of 17,462 square feet and a largest size of 230,922 square feet. The average cap rate for Commercial Real Estate in Paterson is 8.17%. In addition to Commercial Real Estate, Paterson also offers Industrial Properties, such as warehouses and manufacturing facilities, which can provide a unique investment opportunity. The city is also home to Apartment Buildings, Office Properties, and Hotels, each offering its own distinct advantages and opportunities. Overall, Paterson's diverse economy, rich history, and strategic location make it an attractive destination for investors seeking to capitalize on the city's growth and potential.
What financing options are available for purchasing commercial real estate?
When it comes to financing options for purchasing commercial real estate in Paterson, New Jersey, buyers have several choices to consider, including:
- Traditional commercial mortgages offered by banks and credit unions, which typically require a 20-30% down payment and offer fixed or adjustable interest rates.
- Small Business Administration (SBA) loans, which provide more favorable terms, such as lower down payments and longer repayment periods, for qualified small business owners.
- Alternative lenders and private money lenders, which may offer more flexible terms and faster approval processes, but often at higher interest rates.
With 67 available listings of commercial real estate in Paterson, finding the right financing option is crucial to securing a successful purchase. The average price per square foot is $274 USD, and the average size of available properties is 17,462 square feet, with the largest property spanning 230,922 square feet. Additionally, the average cap rate is 8.17%, providing investors with a potential return on their investment.
How do cap rates factor into commercial real estate purchases?
When considering commercial real estate purchases in Paterson, New Jersey, cap rates play a crucial role in determining the potential return on investment. With an average cap rate of 8.17%, investors can gauge the expected rate of return based on the property's net operating income and value, helping them make informed decisions about their commercial real estate investments.
For a deeper understanding of cap rates and their significance in commercial real estate investing, it's essential to know what is a cap rate. With 67 available listings of commercial real estate in Paterson, investors have a range of options to choose from, and a clear understanding of cap rates can help them navigate the market and make smart investment decisions.
What is considered a commercial property?
In Paterson, New Jersey, a commercial property is typically defined as a building or land used for business or commercial purposes, such as office spaces, retail stores, restaurants, warehouses, or industrial facilities, which can be found among the 67 available listings of Commercial Real Estate for sale in the area.
These properties can range in size from 17,462 square feet to 230,922 square feet, with an average price per square foot of $274 USD and an average cap rate of 8.17%, offering a variety of opportunities for investors and business owners in Paterson's diverse commercial landscape.
