For Sale
$1,248,800
276 Ellison St, Paterson, NJ 07501
Apartment buildings
Property Size3,945 SF
Price / SF$316.55
Days on Market230
Property Features for 276 Ellison St
General Information
Standard status
Active
Size
3,945 SF
Building Details
Year Built
1975
Listing Agency:
UNITED REAL ESTATE
Listed By:
RUNNER BORGES
(888) 501-6953
Source:
Luminancerealty
Added: Mar 5
Changed: Oct 11
Last Checked: Oct 5 at 8:48PM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,666
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,213,320
$1.2M
Cap Rate 7%
$866,657
$866.7K
Cap Rate 9%
$674,067
$674.1K
Market Conditions
NOI Build-Up for 3,945 SF
Gross rent
$118.4K $30.00/SF
− Vacancy
−$8.0K −$2.04/SF
EGI
$110.3K $27.96/SF
− OpEx
−$49.6K −$12.58/SF
NOI
$60.7K $15.38/SF
Area
Paterson, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,213,320
Cap Rate 7%
$866,657
Cap Rate 9%
$674,067
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
3,560
Businesses Nearby
Explore this area
Business Placement
Demographics for 07501, NJ
37,918
Population
13,119
Households
2.9
Avg Household Size
33
Median Age
9%
College-Educated
71%
High-School Grad
1.8 sq mi
ZIP Area
21,066
Density / Sq Mi
$40,699
Median Household Income
$32,103
Median Earnings
$1,442
Median Rent
$304,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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.
