Industrial Yard with Office
For Sale
$3,000,000
9 Paterson St, Paterson, NJ 07501
Secured, gated industrial site with substantial paved yard and building office space for fleet and storage-oriented operations.
Property Size9,875 SF
Lot Size0.76 Acres
Price / SF$300
Days on Market72
Property Features for 9 Paterson St
General Information
Standard status
Active
Size
9,875 SF
Lot size
0.76 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$30,484
Building Details
Building Size
9,875 SF
Year Built
9999
Stories
1
Units
1
Listing Agency:
Nicholas Real Estate
(973) 725-3778
Listed By:
NICHOLAS TSELEPIS · License #7821189
Source:
Elliman
Added: Jun 10
Changed: Aug 14
Last Checked: Aug 19 at 12:57PM
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
Investment Insights
Based on property information with market context.
This versatile industrial property is currently operating as a school bus company and is set up for transportation and equipment use. The secured, gated site includes a substantial fully paved yard and an approximately 10,000-square-foot building with office space. The lot size is approximately 0.76 acres (33,106 square feet), and the property presents possible expansion opportunity to support additional operational needs.
The site’s design supports daily vehicle activity, contractor work, and equipment storage, with ample room for vehicle parking and outdoor operational flexibility. It is described as having excellent accessibility for fleet operations and convenient access to major highways and transportation routes. Walkability and transit levels are reflected by a walkScore of 75 and transitScore of 35, with a bikeScore of 50.
With its functional yard, secured perimeter, and existing office space, the property can fit an owner-user or an industrial operator seeking a transportation-ready layout. Potential buyers should review the building and yard configuration for their specific fleet, storage, and office requirements, including how the site’s possible expansion may align with longer-term growth plans.
The site’s design supports daily vehicle activity, contractor work, and equipment storage, with ample room for vehicle parking and outdoor operational flexibility. It is described as having excellent accessibility for fleet operations and convenient access to major highways and transportation routes. Walkability and transit levels are reflected by a walkScore of 75 and transitScore of 35, with a bikeScore of 50.
With its functional yard, secured perimeter, and existing office space, the property can fit an owner-user or an industrial operator seeking a transportation-ready layout. Potential buyers should review the building and yard configuration for their specific fleet, storage, and office requirements, including how the site’s possible expansion may align with longer-term growth plans.
Key Highlights
- Secured, gated industrial site currently operating as a school bus company
- Approx. 0.76‑acre lot (33,106 SF) with substantial fully paved yard space for vehicles and outdoor storage
- Approx. 10,000 SF building with office space and possible expansion opportunity
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
$138,067
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
4.60%
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%
$2,761,340
$2.8M
Cap Rate 7%
$1,972,386
$2.0M
Cap Rate 9%
$1,534,078
$1.5M
Market Conditions
NOI Build-Up for 10,000 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
$172.8K $17.28/SF
− Vacancy
−$10.4K −$1.04/SF
EGI
$162.4K $16.24/SF
− OpEx
−$24.4K −$2.44/SF
NOI
$138.1K $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 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%
$2,761,340
Cap Rate 7%
$1,972,386
Cap Rate 9%
$1,534,078
Alternative Uses
Best Use
Warehouse
$1.97M
$1.73M – $2.30M
NOI $138,067 @ 7.0% cap · market cap 4.60%
Second Best
Industrial
$1.62M
$1.42M – $1.90M
NOI $113,702 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$2.61M
$2.28M – $3.05M
NOI $182,784 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,549
Businesses Nearby
Explore this area
Business Placement
Demographics for 07501, NJ
37,918
Population
13,119
Households
2.9
Avg Household Size
33
Median Age
9%
College-Educated
71%
High-School Grad
1.8 sq mi
ZIP Area
21,066
Density / Sq Mi
$40,699
Median Household Income
$32,103
Median Earnings
$1,442
Median Rent
$304,400
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?
Truck terminal - Secured, gated industrial site with substantial paved yard and building office space for fleet and storage-oriented operations.
Where is this truck terminal located?
The property is located at 9 Paterson St Paterson, NJ.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Secured, gated industrial site currently operating as a school bus company; Approx. 0.76‑acre lot (33,106 SF) with substantial fully paved yard space for vehicles and outdoor storage; Approx. 10,000 SF building with office space and possible expansion opportunity
