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Situated on highly trafficked Market Street, this 3-story masonry property offers approximately 13,107 SF of downtown real estate with immediate cash flow and significant upside potential. The first floor features a leased retail storefront (approx. 6,500 SF) and the third floor includes leased office space (approx. 3,500 SF), providing strong in-place income. The second floor (approx. 3,500 SF) offers clear value-add potential. The property also includes rear land behind the building, creating additional expansion or development opportunity (subject to municipal approvals). Zoned B-4 CBD, supporting a variety of commercial and mixed-use possibilities. Based on zoning parameters and preliminary concepts, there may be potential for residential conversion with conceptual estimates ranging from approximately 40"90 units, subject to architectural design and full city approvals. Buyer to perform independent due diligence. Excellent opportunity for investors, developers, or owner-users seeking cash flow with long-term growth potential." +"AttributionContact": "516-271-8420" +"Basement": "Finished, Storage" +"BuildingAreaUnits": "Sqft" +"Cooling": "Wall A/C Unit(s)" +"CreationDate": "2026-05-04T08:22:59.825202+00:00" +"DaysOnMarket": 76 +"Directions": "Market St to 203"207 Market St, located in downtown Paterson between Main St and Mill St, next to a pay parking lot" +"ExistingLeaseType": "Primary" +"Flooring": "Carpeting, Concrete" +"GarageSpaces": "0" +"GrossIncome": "211308" +"Heating": "3 Units, Forced Hot Air" +"InternetAutomatedValuationDisplayYN": false +"LeasableArea": "3500" +"ListOfficePhone": "201-939-0050" +"ListingContractDate": "2026-02-17" +"LivingAreaUnits": "Sqft" +"LotSizeDimensions": "53X115" +"LotSizeUnits": "Sqft" +"MajorChangeTimestamp": "2026-05-04T00:05:23Z" +"MlsStatus": "Active" +"NetOperatingIncome": "133391" +"NumberOfUnitsTotal": "3" +"OperatingExpense": "77917" 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51 Riggs Pl , South Orange Village Twp., New Jersey 07079-2213
- $4,000
51 Riggs Pl , South Orange Village Twp., New Jersey 07079-2213
- $4,000
Description
Welcome to this spacious 3-bedroom, 2-bath rental that blends comfort and practicality. The home features a functional kitchen, a comfortable living area perfect for relaxing or entertaining, and generously sized bedrooms that offer flexibility for work, rest, or hobbies.With two full bathrooms and included parking, everyday living is easy and convenient. Plus, the location puts you close to major commuting routes, campus, dining spots, and shopping options making it an ideal choice for a well-connected, hassle-free lifestyle.
Address
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City: South Orange Village Twp.
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State/county: Essex
Details
Updated on April 30, 2026 at 9:53 am-
Property ID HZ4023076
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Price $4,000
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Bedrooms 3
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Bathrooms 2
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Property Status Active
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