Passaic, NJ Commercial Investment Properties for Sale
Explore commercial real estate investment properties for sale in Passaic, New Jersey Market population: 70K. Compare commercial properties across all major asset classes...
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12 properties found
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⭐ Featured
Strategic Oakland Investment: 5476 Vicente Way in High-Demand 94609 Zip Code
$1,200,000
Oakland
Multifamily
Cap Rate
2.70%
NOI
$32,400
Size
1,800 SF
📊 Avg Property Tax Rate For Passaic NJ Properties: 4.5700%
⭐ Featured
High-Cap-Rate Value-Add Multifamily Investment in Oakland
$2,299,999
Oakland
Multifamily
Cap Rate
7.97%
NOI
$183,323
Size
6,104 SF
Investor Questions For Passaic NJ
Common questions from investors exploring commercial real estate in Passaic NJ.
What is the overall investment potential of Passaic, NJ, considering its demographic and economic factors?
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The city's median household income of $32,159, combined with a poverty rate of 28.3% and a health insurance coverage of 74.7%, suggests a working-class market with some employment stability. The top industries, including Information and Public Administration, contribute to a diverse economy, while the Hispanic population of 38.8% indicates a culturally rich and potentially vibrant rental market. With an average commute time of 26.7 minutes and a strong presence of public transit, Passaic's infrastructure supports a solid quality of life for residents.
How does the city's ethnic diversity and industry mix impact the demand for rental properties?
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The diverse ethnic makeup of Passaic, with 38.8% Hispanic, 24.7% White, and 12.1% Other, contributes to a dynamic and potentially high-demand rental market. The presence of top industries like Information, Public Administration, and Finance & Insurance also attracts a skilled workforce, increasing the demand for housing. Furthermore, the city's relatively low homeownership rate of 23.1% and median property value of $328,400 suggest opportunities for rental investments.
What are the implications of Passaic's poverty rate and health insurance coverage for tenant quality and stability?
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The 28.3% poverty rate in Passaic, although concerning, is somewhat mitigated by the 74.7% health insurance coverage, indicating that a significant portion of the population has access to healthcare and potentially greater employment stability. This combination suggests that, while tenant quality may vary, there is a sizable working-class population that could provide a stable rental income stream. Additionally, the employed population of 27,027 and median household income of $32,159 contribute to a relatively stable economic environment.
How do the city's commute times and transportation options affect the quality of life for residents and, by extension, the attractiveness of rental properties?
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Passaic's average commute time of 26.7 minutes, which is relatively short, and the availability of public transit as a top commute method, contribute to a high quality of life for residents. This, in turn, makes the city more attractive to potential renters, as they can easily access employment, education, and other amenities. The combination of a diverse economy, relatively low commute times, and access to public transit increases the appeal of Passaic's rental market.
What role do the city's median property value, property taxes, and homeownership rate play in determining the viability of real estate investments?
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The median property value of $328,400 and median property taxes of $4,926 in Passaic suggest a relatively high cost of ownership, which may contribute to the low homeownership rate of 23.1%. However, this also presents opportunities for real estate investors, as the demand for rental properties may be higher due to the lower affordability of ownership. Furthermore, the income inequality (GINI) coefficient of 0.475 indicates a relatively wide income distribution, which could impact the rental market's stability and potential for growth.
Passaic NJ Real Estate & City Facts
Key facts and real estate information about Passaic NJ.
What are some of the best neighborhoods to live in Passaic?
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Some of the best neighborhoods to live in Passaic include Madison, Columbus Park, Totowa, and Wayne Township. These neighborhoods offer a range of amenities, including good schools, low crime rates, and easy access to public transportation. However, it's worth noting that each neighborhood has its own unique character and pros and cons, so it's a good idea to do your research and visit each area before making a decision.
What are some fun things to do in Passaic?
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There are plenty of fun things to do in Passaic, including visiting the Cathedral of Saint Michael the Archangel, exploring the Pequannock River Park, and checking out the local restaurants and shops on Main Avenue. You can also take a stroll along the riverfront, visit the Passaic County Museum, or attend one of the many festivals and events that take place throughout the year. If you're looking for something more adventurous, you can hike at Garret Mountain Reservation or visit the nearby Van Slyke Castle Ruins.
What is the food scene like in Passaic?
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The food scene in Passaic is diverse and vibrant, with a range of restaurants serving everything from traditional Colombian cuisine to modern American fare. Some popular spots include Noches De Colombia, Venus Bar and Restaurant, and Sevilla Restaurant. There are also plenty of great food trucks and casual eateries serving up delicious burgers, sandwiches, and salads. If you're looking for something sweet, you can check out one of the many bakeries or cafes in the area.
What are the pros and cons of living in Passaic?
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The pros of living in Passaic include its diverse community, vibrant cultural scene, and easy access to public transportation. The city is also home to a range of parks and green spaces, including the Pequannock River Park and the Garret Mountain Reservation. However, some cons of living in Passaic include its high crime rate and limited job opportunities. Additionally, the city's infrastructure is still recovering from the impact of Hurricane Irene, which can make some areas feel a bit run-down. Overall, Passaic is a great option for those who value diversity and community, but may not be the best fit for everyone.
Is Passaic a good place to live?
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Whether or not Passaic is a good place to live depends on your individual priorities and preferences. If you value diversity, community, and access to public transportation, Passaic may be a great fit for you. However, if you're looking for a more affluent area with a lower crime rate, you may want to consider other options. Ultimately, Passaic is a complex and multifaceted city that offers a unique blend of pros and cons. With its rich history, vibrant cultural scene, and diverse community, Passaic is definitely worth considering as a place to call home.
⭐ Featured
Prime Oakland Multifamily Investment: 6-Unit Apartment Building with 7.97% Cap Rate in Temescal
$2,299,999
Oakland
Apartment Building
Cap Rate
7.97%
NOI
$183,300
Size
0 SF
📊 Average Income For Passaic NJ Commercial Property: $32,159
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⭐ Featured
Prime Oakland Multifamily Investment: 6-Unit Property with 7.97% Cap Rate in Temescal
$2,299,999
Oakland
Multifamily
Cap Rate
7.97%
NOI
$183,324
Size
0 SF
⭐ Featured
Prime 18-Unit Multifamily Investment in Central City, CO - 5.70% Cap Rate
$5,800,000
Central City
Multifamily
Cap Rate
5.70%
NOI
$330,380
Size
13,454 SF
⭐ Featured
New Construction 18-Unit Multifamily Asset in Central City, CO - 5.70% Cap Rate
$5,800,000
Central City
Multifamily
Cap Rate
5.70%
NOI
$330,380
Size
13,454 SF
⭐ Featured
New Construction 18-Unit Multifamily Asset in Central City, CO - 5.70% Cap Rate
$5,800,000
Central City
Multifamily
Cap Rate
5.70%
NOI
$330,380
Size
13,454 SF
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⭐ Featured
Prime Value-Add Opportunity: 8-Unit Multifamily Asset in San Fernando, CA
$1,750,000
San Fernando
Multifamily
Cap Rate
6.66%
NOI
$116,550
Size
5,040 SF
⭐ Featured
Prime Valley Village Multifamily: 48-Unit Modern Apartment Complex with 3.39% Cap Rate
$30,000,000
Valley Village
Multifamily
Cap Rate
3.39%
NOI
$1,017,000
Size
52,393 SF
⭐ Featured
Prime San Fernando Multifamily: 5-Unit Value-Add Opportunity with 7.76% Cap Rate
$1,275,000
San Fernando
Multifamily
Cap Rate
7.76%
NOI
$98,945
Size
10,888 SF
⭐ Featured
Prime Turnkey Investment: Modern 2022 Multifamily Condo in Miami's High-Growth 33127
$2,450,000
Miami
Multifamily (Condo)
Cap Rate
%
NOI
$0
Size
30,000 SF
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⭐ Featured
Prime Investment Opportunity: 1531 Green St, Philadelphia, PA - Value-Add Multifamily Asset
$1,375,000
Philadelphia
Multifamily
Cap Rate
%
NOI
$0
Size
6,624 SF
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