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    183 Illinois Ave Paterson, NJ 07503

    • Commercial real estate
    • 2,669 SF
    • 0.14 lot acres
    For Sale
    View listing
    $2,100
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Rengaswamy Asokan MD / Internist
    • Heart and Vascular Associates of Northern Jersey / Doctor

    Property Details for 183 Illinois Ave

    Year built
    1960
    Lot size
    0.14 lot acres
    Property size
    2,669 SF
    Property type
    Commercial real estate

    Description

    use of the basement. One off street parking space in front of the garage. Tenant is responsible to remodel

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Paterson
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.1462
    Latitude
    40.8976

    Comparable in this City

    • Value Estimation by Request

      70 Levine St

      Commercial real estate
      70 Levine St, Paterson, NJ 07503
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      0.08 Acres

      41 Mary St

      COMMERCIAL (GENERAL) • 0.08 Acres
      41 Mary St, Paterson, NJ 07503
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    • Value Estimation by Request

      Main St To Getty Ave

      COMMERCIAL (GENERAL)
      Main St To Getty Ave, Paterson, NJ 07503
      View Details
    • Value Estimation by Request
      2,500 SF

      24 Illinois Ave

      COMMERCIAL (GENERAL) • 2,500 SF
      24 Illinois Ave, Paterson, NJ 07503
      View Details
    • Value Estimation by Request
      4,136 SF

      1136 Main St, Unit 1144

      COMMERCIAL (GENERAL) • 4,136 SF
      1136 Main St, Paterson, NJ 07503-1345
      View Details
    • Value Estimation by Request

      163-177 Pennsylvania Ave

      COMMERCIAL (GENERAL)
      163-177 Pennsylvania Ave, Paterson, NJ 07503-2134
      View Details

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    183 Illinois Ave
    Paterson, NJ 07503
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    Realmo Value Estimation

    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.

    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.

    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
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