276 Ellison St Paterson, NJ 07501
276 Ellison St, Paterson, NJ, 07501
$1,248,800
For Sale
$1,248,800
Apartment buildings
Property Size3,945 SF
Lot Size0.06 Acres
Price / SF$316.55
Days on Market199
Property Features for 276 Ellison St
General Information
- Standard status
- Active
- Size
- 3,945 SF
- Lot size
- 0.06 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1975
Listing agency
UNITED REAL ESTATE
(888) 501-6953
Listed by
RUNNER BORGES
Source
Corcoran
Added: Jan 3 Updated: Jul 6 at 10:30AM Checked: Jul 21 at 5:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of UNITED REAL ESTATE
Investment Insights
Based on property information with market context.
Key Highlights
- Fully occupied 8‑unit building with solid income and low expenses.
- Value‑add property with endless potential.
- Separate utilities for each unit.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $118.4k | $30.00 |
| − Vacancy | −$8.0k | −$2.04 |
| EGI | $110.3k | $27.96 |
| − OpEx | −$49.6k | −$12.58 |
| NOI | $60.7k | $15.38 |
3,945 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$866.7K
$758.3K – $1.01M
NOI $60,666 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$901.4K – $1.20M
NOI $72,108 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
Where is this apartment building located?
The property is located at 276 Ellison St Paterson, NJ.
What is the asking price?
The asking price for this property is $1,248,800.
What are key features of this property?
This property features: Fully occupied 8‑unit building with solid income and low expenses.; Value‑add property with endless potential.; Separate utilities for each unit.
