4 Market St, Passaic City, NJ 07055
4 Market St, Passaic City, NJ 07055
4 Market St, Passaic City, NJ 07055
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Sharon Burroughs-Clarke

Sharon Burroughs-Clarke

+1(917) 940-2118
$865,000
Est. payment /mo
2,613 Sqft Lot
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UPDATED:

Key Details

Property Type Single Family Home

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID 4008149

Year Built 1930

Annual Tax Amount $8,604

Tax Year 2024

Lot Size 2,613 Sqft

Property Sub-Type Mixed Use

Property Description

High-performing mixed-use investment property offering an over 8% cap rate in a prime redevelopment zone with exceptionally low taxes. This stabilized asset provides immediate cash flow with long-term upside. The first floor features a busy 2,600 sq ft restaurant/event hall with seating for up to 120 patrons, central air, forced air heat, and a full-length open basement currently used by the commercial tenant. The second floor includes two 2-bedroom, 1-bath residential units, each with living and dining rooms. Both apartments were fully renovated in 2018 and feature forced hot air heating. The entire building was completely renovated in 2018, including roof, plumbing, electrical, and all units, with all work completed to code minimizing near-term capital expenditures. All three units have separate utilities. Current rents are $4,500 (commercial) and $1,600 each for the residential units, with apartments rented below market value, presenting a clear value-add opportunity. Residential leases expire April and May 2026, allowing for future rent repositioning. Property is fully occupied with strong tenants. Located within a redevelopment zone, this property offers multiple exit strategies including continued cash-flow ownership, rent optimization, or future redevelopment. Ideal for investors seeking a turn-key, income-producing asset with upside potential in a growing area.

Location

State NJ

County Passaic

Zoning MSRA

Rooms

Basement Full, Unfinished

Interior

Heating Gas-Natural

Cooling Window A/C(s)

Equipment Appliances, Fire Alarm, Kitchen Area, Restrooms - Public, See Remarks, Smoke Detector

Heat Source Gas-Natural

Exterior

Exterior Feature Brick/Block

Utilities Available Gas-Natural

Roof Type Flat

Building

Lot Description Level Lot

Story 2

Sewer Public Sewer

Water Public Water

Others

Ownership Fee Simple

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Garden State MLS(GSMLS)
Information deemed reliable but not guaranteed. Copyright © 2026 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by HOWARD HANNA RAND REALTY

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Sharon Burroughs-Clarke

Sharon Burroughs-Clarke

+1(917) 940-2118

Broker Associate | License ID: 1752455

Broker Associate License ID: 1752455

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