Versatile Commercial Property in East
For Sale
$1,200,000
307 Paterson Ave, East Rutherford, NJ 07073
Commercial property with office, garages, storage, and apartment.
Property Size6,300 SF
Price / SF$190.48
Days on Market100
Property Features for 307 Paterson Ave
General Information
Standard status
Active
Size
6,300 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$18,210
Amenities
Central air
1 Unit Heating
Additional Parking
Concrete Driveway
Flat Roof
Irregular Lot
Parking Lot-Exclusive
Radiators - Steam Heating
Wall A/C Unit(s) Cooling
Building Details
Year Built
1940
Listing Agency:
KELLER WILLIAMS PROSPERITY REALTY
(973) 696-0077
Listed By:
STEVEN N EMERY
Source:
Corcoran
Added: May 21
Changed: Aug 27
Last Checked: Aug 28 at 1:21PM
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 KELLER WILLIAMS PROSPERITY REALTY
Investment Insights
Based on property information with market context.
Located in the heart of bustling downtown East Rutherford, this versatile commercial property offers a rare opportunity for business owners, investors, and automotive enthusiasts. Designed for flexibility and function, it features a spacious office area, multiple garages, and ample vehicle storage, making it ideal for a wide range of uses from auto-related businesses to storage and light industrial operations. The property includes a well-designed professional office area perfect for administrative work, client meetings, or team collaboration. There are two spacious, multi-bay garages with lift, ideal for vehicle maintenance, detailing, restoration, or workshop needs. An expansive storage room offers a generous area to store parts, tools, or inventory. A convenient half bath is accessible for both staff and clients. A rare and unique feature is the secure second-floor vehicle storage for cars, trucks, or specialty equipment. The property also includes a bonus 1-bedroom apartment ideal for on-site living or generating additional rental income, featuring a full kitchen, cozy living area, and private bath. The property size is 6300 square feet. With its central location, easy access to major highways, and proximity to local amenities, this property is as practical as it is versatile. Whether you're looking to expand your auto business, launch a new venture, or simply create the ultimate car lover's workshop and storage hub.
Key Highlights
- Multiple Garages: Two spacious, multi‑bay garages with lift ideal for vehicle maintenance, detailing, restoration, or workshop needs.
- Secure second‑floor vehicle storage for cars, trucks, or specialty equipment.
- Bonus 1‑bedroom apartment: Ideal for on‑site living or generating additional rental income with a full kitchen, cozy living area, and private bath.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$89,922
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,798,440
$1.8M
Cap Rate 7%
$1,284,600
$1.3M
Cap Rate 9%
$999,133
$999.1K
Market Conditions
NOI Build-Up for 6,300 SF
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.
Gross rent
$136.1K $21.60/SF
− Vacancy
−$7.6K −$1.21/SF
EGI
$128.5K $20.39/SF
− OpEx
−$38.5K −$6.12/SF
NOI
$89.9K $14.27/SF
Area
Bergen County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,798,440
Cap Rate 7%
$1,284,600
Cap Rate 9%
$999,133
Alternative Uses
Best Use
Retail
$1.28M
$1.12M – $1.50M
NOI $89,922 @ 7.0% cap · market cap 7.49%
Second Best
Flex RnD
$1.19M
$1.04M – $1.39M
NOI $83,145 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,154 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,913
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 07073, NJ
10,022
Population
4,325
Households
2.3
Avg Household Size
38
Median Age
45%
College-Educated
88%
High-School Grad
3.7 sq mi
ZIP Area
2,709
Density / Sq Mi
$91,789
Median Household Income
$59,221
Median Earnings
$1,867
Median Rent
$453,500
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Automotive property - Commercial property with office, garages, storage, and apartment.
Where is this automotive property located?
The property is located at 307 Paterson Ave East Rutherford, NJ.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Multiple Garages: Two spacious, multi‑bay garages with lift ideal for vehicle maintenance, detailing, restoration, or workshop needs.; Secure second‑floor vehicle storage for cars, trucks, or specialty equipment.; Bonus 1‑bedroom apartment: Ideal for on‑site living or generating additional rental income with a full kitchen, cozy living area, and private bath.
