Multi-Building Warehouse with
553-587 31st Paterson, NJ 07513
New
For Sale
$22,440,000
Large warehouse facility on 3.4 acres with ceiling heat and approximately 2,500 sq. ft. office per section.
Property Size102,000 SF
Lot Size3.40 Acres
Price / SF$220
Days on Market4
Property Features for 553-587 31st
General Information
- Standard status
- Active
- Size
- 102,000 SF
- Lot size
- 3.40 Acres
- Property subtype
- Commercial
Listing Agency:
COLDWELL BANKER, FORT LEE
(201) 461-5000
Listed By:
ELIZABETH RODITI
Source:
Corcoran
Added: Jul 21
Changed: Jul 24
Last Checked: Jul 24 at 9:31AM
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 COLDWELL BANKER, FORT LEE
Investment Insights
Based on property information with market context.
This 102,000-square-foot warehouse facility is situated on 3.4 acres and is built in two main timeframes, with approximately 60,000 square feet constructed in 1950 and approximately 40,000 square feet built around 1997. The property is divided into multiple sections, and each section includes approximately 2,500 square feet of office space. The building features ceiling heating units and is supported by 1,000 amps of power. The property will be delivered vacant.
The location provides easy access to Route 80, Route 46, and Route 21.
For buyers or tenants looking for a warehouse configuration with dedicated office space tied to each section, this facility offers a clear, repeatable layout across its segments, along with the power and climate support noted in the offering.
The location provides easy access to Route 80, Route 46, and Route 21.
For buyers or tenants looking for a warehouse configuration with dedicated office space tied to each section, this facility offers a clear, repeatable layout across its segments, along with the power and climate support noted in the offering.
Key Highlights
- 102,000 SF warehouse on 3.4 acres with two building sections
- Approx. 60,000 SF built in 1950 and approx. 40,000 SF built around 1997
- About 2,500 SF office space per section
Financial Insights For Office B
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 | $3.06M | $30.00 |
| − Vacancy | −$979.2k | −$9.60 |
| EGI | $2.08M | $20.40 |
| − OpEx | −$520.2k | −$5.10 |
| NOI | $1.56M | $15.30 |
102,000 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$22.29M
$19.51M – $26.01M
NOI $1,560,600 @ 7.0% cap · market cap 6.95%
Second Best
Warehouse
$20.12M
$17.60M – $23.47M
NOI $1,408,285 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$26.63M
$23.30M – $31.07M
NOI $1,864,397 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar Off Market Nearby
- Self-Storage at U-Haul — 838 Market St, Paterson, NJ 07513
- Guaranteed Price Movers — 297 Getty Ave, Paterson, NJ 07503
FAQs
What type of property is this?
Warehouse - Large warehouse facility on 3.4 acres with ceiling heat and approximately 2,500 sq. ft. office per section.
Where is this warehouse located?
The property is located at 553-587 31st Paterson, NJ.
What is the asking price?
The asking price for this property is $22,440,000.
What are key features of this property?
This property features: 102,000 SF warehouse on 3.4 acres with two building sections; Approx. 60,000 SF built in 1950 and approx. 40,000 SF built around 1997; About 2,500 SF office space per section
