Deals / Active / 385 Pacific St

385 Pacific St · Deal Summary

Property: Retail · 100,000 SF Loan: Purchase Utilization: Investment Draft
Deal Memo NEW
385 Pacific St, Paterson, NJ 07503
City: Paterson  ·  State: NJ  ·  Year built: 1998
Core Terms
Loan TypePurchase
Loan Amount$1,700,000
Term10 yr
LTV52%
Sale
Purchase Price$24,000,000
Cap Rate6.10%
DSCR1.32x
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Deals / 385 Pacific St / Deal Memo
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FINANCE LOBBY CAPITAL
385 Pacific St
Paterson, NJ 07503 · Retail · 100,000 SF
DEAL MEMO FinanceLobby
Confidentiality & Disclaimer

This Deal Memo has been prepared by FinanceLobby Capital on behalf of the property owner for the sole purpose of providing prospective lenders preliminary information regarding the property described herein.

By accepting this Deal Memo, the recipient agrees to keep its contents confidential, to use the information solely for evaluating a potential financing transaction, and to return or destroy it upon request.

The information contained herein has been obtained from sources deemed reliable; however, no representation or warranty, express or implied, is made by FinanceLobby Capital or the property owner regarding its accuracy or completeness.

Prepared bySarah Chen, Director
DateMay 13, 2026
VersionDraft v1
FinanceLobby Capital · Confidential · Page 2 of 13
Executive Summary ✦ AI draft · review

The subject transaction involves the acquisition of a 100,000 retail asset located at 385 Pacific St, Paterson, NJ. The property comprises 40 units, of which 35 are currently occupied, representing an 87.5% occupancy rate.

The sponsor is seeking a $1,700,000 loan to facilitate the purchase under Fannie Mae DUS and Freddie Mac Optigo TAH frameworks.

Loan$1.7M
LTV52%
DSCR1.32x
Cap6.10%
Transaction Snapshot
Loan TypeAcquisition · Agency
Property TypeRetail · Anchored
Rentable SF100,000
Year Built1998
Occupancy87.5%
WALT5.2 yrs
FinanceLobby Capital · Confidential · Page 3 of 13
Investment Highlights ✦ AI draft

Why this deal: top reasons for lender consideration:

1
Stabilized cash-flowing asset
87.5% occupied with 35 of 40 units leased.
2
Below-market loan basis
Requested loan of $1.7M represents $17.00/SF.
3
Lease-up upside
Remaining 5 vacant units (15,000 SF) provide NOI upside.
4
Agency-eligible execution
Identified eligibility under Fannie Mae DUS and Freddie Mac.
Property Details Worksheet
Exterior Drop or browse
Aerial Drop or browse
TypeRetail · Anchored
Year built1998
Units40 (35 occ.)
Total SF100,000
Lot size3.4 acres
Parking412 spaces
AnchorShopRite
WALT5.2 yrs
Tenant Roster
ShopRite (anchor)42,500 SF
CVS Pharmacy13,200 SF
Chase Bank4,800 SF
Local in-line (12)24,500 SF
FinanceLobby Capital · Confidential · Page 5 of 13
Cover Page · 1 of 13
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