Rare opportunity to acquire a stabilized, income-producing commercial building in the heart of Paterson. Positioned on highly trafficked Market Street, this 3-story masonry asset offers approximately 13,107 SF of prime downtown real estate with immediate cash flow and long-term upside. The property features a leased retail storefront on the first floor (approx. 6,500 SF) and a leased office space on the third floor (approx. 3,500 SF), delivering strong in-place income. The second floor (approx. 3,500 SF) provides clear value-add potential for repositioning or future development. The property also includes rear land behind the building, offering additional expansion or build-out potential (subject to approvals). Located within the B-4 Central Business District zone, the property supports a variety of commercial and mixed-use uses. Based on zoning parameters and preliminary development concepts, there may be potential for residential conversion, with conceptual estimates ranging from approximately 40 to 90 units, subject to architectural design and full municipal approvals. Buyer to conduct independent due diligence with the City of Paterson. Surrounded by redevelopment, transit access, and established commercial activity, this asset offers multiple strategies: stable hold, expansion, repositioning, or long-term redevelopment.