Paterson, New Jersey, offers a unique opportunity for investors to capitalize on the city's rich history and diverse economy. Retail Properties for sale in Paterson provide a chance to tap into the city's strong consumer base, with a population of around 140,000 people. These properties can represent a variety of investments, from small strip centers to large shopping malls, each with its own unique characteristics and potential for growth. Paterson's strategic location, with easy access to major highways like Interstate 80 and State Routes 4, 19, and 20, makes it an attractive destination for businesses and consumers alike. The city's amenities, including the Passaic County Community College and St. Joseph's Regional Medical Center, also contribute to its appeal. Additionally, Paterson's cultural attractions, such as the Paterson Museum of Industrial History, and its proximity to New York City and the Hudson River waterfront in Hoboken, make it a great place for business and travel.
With 21 Retail Properties for sale in Paterson, investors have a range of options to choose from. These properties offer an average price per square foot of $354 USD and an average size of 7,579 square feet, with the largest property spanning 24,292 square feet. The average cap rate for Retail Properties in Paterson is 7.72%. In addition to Retail Properties, Paterson also offers a range of other property types, including Shopping Centers, which benefit from the city's high foot traffic; Restaurants, which cater to the diverse tastes of the local population; Office Properties, which provide a hub for businesses; and Hotels, which serve the city's many visitors. Overall, Paterson's unique blend of history, culture, and economic activity makes it an attractive destination for investors and businesses alike.
What is the average cap rate for retail properties in Paterson?
When it comes to investing in retail properties in Paterson, understanding the average cap rate is crucial. According to current listings, the average cap rate for retail properties in Paterson is 7.72%, which can help investors gauge the potential return on investment; for a deeper dive into this key metric, check out our article on what is a cap rate.
How do location and foot traffic affect retail property values?
In Paterson, New Jersey, the location and foot traffic of a retail property significantly impact its value. For instance, properties situated near major transportation hubs like the NJ Transit Main Line commuter rail service to Hoboken and the Broadway Bus Terminal, or along busy roads like Interstate 80 and State Routes 4, 19, and 20, tend to attract more customers and command higher prices, with an average price per square foot of $354 USD and an average size of 7,579 square feet.
