Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    151 3rd Ave Paterson, NJ 07514-1514

    • Industrial properties
    • 1,875 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    $330,000
    Show details
    Cap Rate Potential
    6.5%
    Industrial properties
    Location Intelligence
    Property ID
    US59-1770008
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • The Car Club Auto / Auto Repair Shop
    • J & Y AUTO REPAIR / Auto Repair Shop
    • Cosenza Motors Inc / Auto Electrical Service

    Property Details for 151 3rd Ave

    Construction
    CONCRETE BLOCKS
    Lot size
    0.06 lot acres
    Property size
    1,875 SF
    Zone code
    I-2
    Property type
    Industrial properties
    APN
    08 02309-0000-00008
    APU
    802309000000008

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $325,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $355,000
      6.5%
      $330,000
      7%
      $305,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $345,000
      Current use
      OFFICE BUILDING
      $345,000
      Change: +0% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $310,000
      Change: -10% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Paterson
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.1443
    Latitude
    40.937
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $11,453
    $27,500
    $206,100
    $233,600
    -
    $27,500
    $206,100
    $233,600

    Comparable in this City

    • Value Estimation
      $290,000
      0.13 Acres

      539-543 18th St, Unit 543

      INDUSTRIAL (GENERAL) • 0.13 Acres
      539-543 18th St, Paterson, NJ 07514-2611
      View Details
    • Value Estimation
      $1,345,000
      86,430 SF

      130-134 2nd Ave, Unit 134

      INDUSTRIAL (GENERAL) • 86,430 SF
      130-134 2nd Ave, Paterson, NJ 07514-1515
      View Details
    • Value Estimation
      $325,000
      7,752 SF

      568-572 19th St, Unit 572

      INDUSTRIAL (GENERAL) • 7,752 SF
      568-572 19th St, Paterson, NJ 07514-2711
      View Details
    • Value Estimation
      $605,000
      20,000 SF

      629 19th St, Unit 643

      INDUSTRIAL (GENERAL) • 20,000 SF
      629 19th St, Paterson, NJ 07514-2804
      View Details
    • Value Estimation
      $315,000
      6,000 SF

      23-27 23rd St, Unit 27

      INDUSTRIAL (GENERAL) • 6,000 SF
      23-27 23rd St, Paterson, NJ 07514-2015
      View Details
    • Value Estimation
      $325,000
      1,398 SF

      80 24th St

      INDUSTRIAL (GENERAL) • 1,398 SF
      80 24th St, Paterson, NJ 07514
      View Details

    Similar Nearby for Sale

    • $3,999,000
      30,000 SF

      Paterson Warehouse: Prime Industrial Space

      30,000 SF Warehouse, Two Stories, Excellent Location
      72 2Nd Ave, Paterson, NJ 07514
      View Details
    • $2,500,000
      17,500 SF

      Spacious Warehouse with Vacant Lot

      17,500 SF warehouse with additional vacant lot for sale.
      554 E 22Nd St, Paterson, NJ 07514
      View Details
    • $5,366,000
      12,803 SF

      Fully Occupied Retail Center

      100% occupied retail center with major tenants and high traffic.
      37 E 34Th St, Paterson, NJ 07514
      View Details
    • New
      $1,000,000
      0.11 Acres

      Mixed-Use Property with High Rent Roll

      Four-unit property with restaurant and garages, generating substantial rental income.
      Paterson City, Paterson, NJ 07514
      View Details
    • $3,450,000
      13,000 SF

      16-Unit Apartment Building in Paterson

      16-unit apartment building in Paterson, NJ with strong cash flow potential.
      413 10Th Ave, Paterson, NJ 07514
      View Details
    • $719,000

      Oversized Six-Family Apartment Building

      Three-story apartment building with parking in Paterson, New Jersey.
      466 10Th Ave, Paterson, NJ 07514
      View Details

    Similar Nearby for Lease

    • $7,800 /Mo
      6,098 SF

      Paterson City Commercial Space

      Highly visible retail, office, or light industrial space for rent.
      Paterson City, Paterson, NJ 07514
      View Details
    • $19,500 /Mo

      Industrial Facility in Paterson, NJ

      18,872 SF warehouse/manufacturing space for lease in Paterson.
      347 22Nd St, Paterson, NJ 07514
      View Details
    • $216 SF/Yr
      9,126 SF

      Madison Ave Warehouse - Paterson, NJ

      9,126 SF Warehouse, Great Potential
      568 Madison Ave, Paterson, NJ 07514
      View Details
    • $2,400 /Mo

      Spacious Apartment with 3 Bedrooms

      Third-floor apartment featuring 3 bedrooms and 2 full bathrooms.
      399 E 28Th St, Paterson, NJ 07514
      View Details
    • $3,150 /Mo

      New Three-Bedroom Apartment in Paterson

      New three-bedroom apartment with modern design and convenient location.
      229 E 24Th St, Paterson, NJ 07514
      View Details
    • $2 SF/Yr

      295 Broadway, Unit a

      Store front at Carroll and Broadway
      295 Broadway, Paterson, NJ 07514
      View Details
    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.
    151 3rd Ave
    Paterson, NJ 07514-1514
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.