61 Parker Avenue
Passaic, NJ 07055

Welcome to this exceptional mixed-use property situated in a prime location, directly facing the prestigious Muhammad Ali School No.23 and adjacent to Theodore Roosevelt School No. 10. With its commanding corner presence, this 3-story building stands as a beacon, impossible to miss from the road. The ground floor hosts a thriving mini-market, drawing foot traffic and ensuring a steady stream of income. Above, the second and third floors boast spacious residential units, offering comfortable living spaces and the potential for further rental revenue. Generating an impressive $99,000 in gross rental income annually, with a Net Operating Income (NOI) of $79,412, this property presents a solid investment opportunity with a cap rate of 6%. Its proximity to major amenities, including Home Depot and Wall green just a block away, enhances its appeal to both tenants and investors alike.