30,000 SF Warehouse For
For Sale
Contact for pricing
72 2nd Ave, Paterson, NJ 07514
30,000 SF warehouse with office and storage space available.
Property Size30,000 SF
Price / SF$196.67
Days on Market781
Property Features for 72 2nd Ave
General Information
Standard status
Active
Size
30,000 SF
Property subtype
Industrial
Building Details
Stories
2
Listing Agency:
Nicholas Real Estate Agency
(973) 725-3778
Listed By:
Nicholas Tselepis · License #7821189
Source:
Crexi
Added: Jul 2, 2024
Changed: Aug 8
Last Checked: Aug 20 at 5:12AM
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 Nicholas Real Estate Agency
Investment Insights
Based on property information with market context.
This property features approximately 30,000 square feet of warehouse space, including 5,000 square feet on the second floor suitable for office or storage use. The warehouse has a ceiling height ranging from 14 to 18 feet. It includes two drive-in entrances and one loading dock. The property also offers a basement for additional storage and office space on the first floor.
Key Highlights
- Approximately 30,000 sqft warehouse space
- Includes 5,000 sqft on 2nd floor for office or storage
- 14‑18 ft ceiling height
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
$459,000
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
7.78%
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%
$9,180,000
$9.2M
Cap Rate 7%
$6,557,143
$6.6M
Cap Rate 9%
$5,100,000
$5.1M
Market Conditions
NOI Build-Up for 30,000 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
$900.0K $30.00/SF
− Vacancy
−$288.0K −$9.60/SF
EGI
$612.0K $20.40/SF
− OpEx
−$153.0K −$5.10/SF
NOI
$459.0K $15.30/SF
Area
Paterson, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$9,180,000
Cap Rate 7%
$6,557,143
Cap Rate 9%
$5,100,000
Alternative Uses
Best Use
Office B
$6.56M
$5.74M – $7.65M
NOI $459,000 @ 7.0% cap · market cap 7.78%
Second Best
Warehouse
$5.92M
$5.18M – $6.90M
NOI $414,202 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$7.83M
$6.85M – $9.14M
NOI $548,352 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,332
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 07514, NJ
19,200
Population
6,752
Households
2.8
Avg Household Size
37
Median Age
12%
College-Educated
78%
High-School Grad
0.9 sq mi
ZIP Area
21,333
Density / Sq Mi
$65,492
Median Household Income
$34,962
Median Earnings
$1,472
Median Rent
$314,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Krauszer's Food Store — 16-15 River Rd, Fair Lawn, NJ 07410
- FNA — 175 E 15th St, Paterson, NJ 07524
- CubeSmart Self Storage — 200 Wagaraw Rd, Hawthorne, NJ 07506
- Nearby Self Storage Units — 7-17 Fair Lawn Ave, Fair Lawn, NJ 07410, United States
- FPF Warehouse and Distribution Center LLC — 113-115 Madison Ave, Paterson, NJ 07524
Frequently Asked Questions
What type of property is this?
Warehouse - 30,000 SF warehouse with office and storage space available.
Where is this warehouse located?
The property is located at 72 2nd Ave Paterson, NJ.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Approximately 30,000 sqft warehouse space; Includes **5,000 sqft on 2nd floor for office or storage**; 14‑18 ft ceiling height
