Multi-Building Warehouse with
For Sale
$22,440,000
553-587 31st Street, Paterson, NJ 07513
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 Market87
Property Features for 553-587 31st Street
General Information
Standard status
Active
Size
102,000 SF
Lot size
3.40 Acres
Lease Type
NNN
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$204,212
Amenities
Electric, Other
Listed By:
Elizabeth Roditi
(201) 315-3848
Source:
Evrealestate
Added: Jul 19
Changed: Oct 6
Last Checked: Oct 12 at 7:11PM
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 Elizabeth Roditi
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
Estimated NOI and Cap Rate
NOI / Yr
$1,408,285
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$28,165,700
$28.2M
Cap Rate 7%
$20,118,357
$20.1M
Cap Rate 9%
$15,647,611
$15.6M
Market Conditions
NOI Build-Up for 102,000 SF
Gross rent
$1.76M $17.28/SF
− Vacancy
−$105.8K −$1.04/SF
EGI
$1.66M $16.24/SF
− OpEx
−$248.5K −$2.44/SF
NOI
$1.41M $13.81/SF
Area
Paterson, NJ
Vacancy
6.00%
Lease Rate
$17.28 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$28,165,700
Cap Rate 7%
$20,118,357
Cap Rate 9%
$15,647,611
Alternative Uses
Best Use
Warehouse
$20.12M
$17.60M – $23.47M
NOI $1,408,285 @ 7.0% cap · market cap 6.28%
Second Best
—
—
no second resolved use
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,244
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07513, NJ
11,995
Population
3,299
Households
3.6
Avg Household Size
35
Median Age
12%
College-Educated
77%
High-School Grad
0.6 sq mi
ZIP Area
19,992
Density / Sq Mi
$64,320
Median Household Income
$34,274
Median Earnings
$1,606
Median Rent
$387,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
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 Street 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
