Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Two-Story Building with Full Basement Title is generated by Realmo AI

    84 Ellison St, Paterson, NJ 07505

    View on Map
    Claim this Listing
    For Lease
    $3,500 /Mo

    Vacant two-story building with basement, suitable for retail.

    Type:Commercial
    Lot size:
    0.04 Acres
    Added:
    Jan 29, 2026
    Days on Market:
    127
    Last Refresh:
    Apr 5 at 11:25 pm

    Property Features for 84 Ellison St

    General Information

    Standard status
    Active
    Lot size
    0.04 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    9999

    We can help!

    Listing Contact
    NICHOLAS TSELEPIS

    Listing agent NICHOLAS TSELEPIS License #7821189

    Listing office NICHOLAS REAL ESTATE AGENCY

    Listing date Jan 29, 2026

    Source Corcoran

    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

    HighLights

    • Heavy traffic area ideal for business
    • Close proximity to major highways (RT 19, 80, 46, 4)
    • Located 1/2 block from Main St Market St
    • New roof
    • Updated electric
    • Vacant and available immediately

    Overview

    This vacant two-story building with a full basement is available immediately for rent. Previously used as a furniture store, the property benefits from a heavy traffic area and is located approximately half a block from Market Street and Main Street. The building features a new roof and updated electric. Its location provides convenient access to major highways, including Route 19, 80, 46, and 4. The property is also available for sale.
    Property Profile Location Intelligence

    Current Use by Public Records

    Stop Furniture #1 Furniture & Home Goods Star Furniture Furniture & Home Goods

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Restaurant Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Floristeria Diana — 301 Main St, Paterson, NJ 07505
    • Iris Florist — 21 Park Ave, Paterson, NJ 07501
    • Flowers Vs Flowers — 414 Main St, Paterson, NJ 07501
    • Floristeria Mia — 513 Market St, Paterson, NJ 07501
    • Produce & Floristeria Dionis — Paterson, NJ 07501

    Location Insight

    • Map
    • Local Demand
    City
    Paterson
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.174
    Latitude
    40.9174

    Nearby Similar for Lease

    • $3,400/Mo
      1,100 SF

      Retail Space in Busy Strip

      1100 sqft retail space in a high-traffic Paterson strip mall.
      446 Chamberlain Ave, Paterson City, NJ 07522-1009
      View Details
    • $1,450/Mo
      625 SF

      Renovated Office Space For Rent

      625 sqft renovated office space suitable for professional use.
      446 Chamberlain Ave, Paterson City, NJ 07522-1009
      View Details
    • $2,350/Mo
      1,100 SF

      Paterson City Office Space

      1,100 sq ft office space in busy strip mall.
      311 Crooks Ave, Paterson City, NJ 07503-1105
      View Details
    • $7,000/Mo
      1,316 SF

      Remodeled Auto Repair Garage

      Remodeled auto repair garage in high-traffic area, suitable for various vehicles.
      480 Union Ave, Paterson City, NJ 07522-1909
      View Details
    • $1,495/Mo
      760 SF

      Professional Office Suite For Rent

      Second floor office suite with abundant natural light.
      250 Madison Ave, Paterson City, NJ 07524
      View Details
    • $1,495/Mo
      760 SF

      Second-Floor Corner Office Suite

      Bright corner office suite with windows, private offices, and a conference/work area for professional use.
      250-254 Madison #2nd Fl Right, Paterson, NJ 07524
      View Details
    • $1,525/Mo
      760 SF

      Professional Office Suite For Rent

      Second floor office suite with abundant natural light.
      250 MADISON AVE 2nd Fl, Paterson City, NJ 07524
      View Details
    • $3,850/Mo
      700 SF

      Prime South Paterson Commercial Space

      700 SF commercial space in prime South Paterson location.
      1111 Main St, Paterson City, NJ 07503
      View Details
    • $7,800/Mo
      3,696 SF

      Commercial Building Vanilla Box Space

      High-traffic commercial building suitable for retail, storage, or office.
      560 E 18Th St, Paterson City, NJ 07514
      View Details
    • $2,000/Mo
      2,000 SF

      Industrial Space in Paterson City

      Flex space suitable for light industrial, warehouse, or retail.
      386 River St, Paterson City, NJ 07524
      View Details
    • $7,800/Mo
      7,200 SF

      Versatile Industrial/Warehouse Space Available

      7,200 Sq. Ft. industrial/warehouse space with flexible leasing options.
      312 Governor Street, Paterson City, NJ 07514
      View Details
    • $2 SF/Yr
      1,000-1,000 SF

      Storefront at Carroll and Broadway

      Small storefront ideal for tobacco shop or miscellaneous retail.
      295 Broadway, Unit A, Paterson, NJ 07514
      View Details

    FAQs

    What type of property is this?
    Storefront property - Vacant two-story building with basement, suitable for retail.
    Where is this storefront property located?
    The property is located at 84 Ellison St Paterson, NJ.
    What is the lease rate?
    The lease rate is $3,500 /Mo.
    What are key features of this property?
    This property features: Heavy traffic area ideal for business; Close proximity to major highways (RT 19, 80, 46, 4); Located 1/2 block from Main St Market St
    (973) 340-1202
    We can help!
    Listing Contact
    NICHOLAS TSELEPIS
    Real Estate License ID: 7821189
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    84 Ellison St, Paterson City, NJ 07505
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!