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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Industrial properties
266-268 16th St 268 Paterson, NJ 07501-2405
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-1843257
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Construction
FRAME
Total area
3,875 SF
Lot
0.13 ac (5,650 SF)
Zoning code
I-1
APN
08 02805-0000-00007
UPID
US59-1843257
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$365k
CAP Approach
CAP
$680k
Comparable Approach
Comparable
$385k
Blend (final)
Blend
$590k
Owner & transaction history
Chelsea Boutique Flats LLC · 2 yrs held
Chelsea Boutique Flats LLC
since 2023
7 recorded transactions
Zoning & alternative use
I-1 · Paterson, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$715,000
+0.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Paterson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Paterson submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$365,000
CAP Approach
CAP Return
Estimation
6%
$735,000
6.5%
$680,000
7%
$630,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$715,000
Current use
OFFICE BUILDING
$715,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$152 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$14,205
Tax year 2022
Assessed value
$306,000
Assessed 2023
Previous assessed
$306,000
+0.0% YoY
Effective rate
4.64%
On assessed value
Assessed land
$39,200
Assessed improvement
$266,800
Land market value
$39,200
Improvement market value
$266,800
Total market value
$306,000
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Construction
FRAME
Heating
NONE
Stories
2
Total area
3,875 SF
Lot
0.13 ac (5,650 SF)
Zoning code
I-1
APN
08 02805-0000-00007
UPID
US59-1843257
Jurisdiction
PASSAIC
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
I-1 · Paterson, NJ
Zoning I-1 · permitted uses
I-1 · Paterson, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Paterson. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$715,000
OFFICE BUILDING
Est. value
$715,000
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Construction
FRAME
Heating
NONE
Stories
2
Lot
0.13 ac
Current owner
From public records · entity-resolved
Chelsea Boutique Flats LLC
Entity
Mailing address
226 BELMONT AVE, HALEDON, NJ 07508-1473
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 26, 2023
—
Chelsea Boutique Flats LLC
Paragon Nj Properties LLC
Deed
$780,000 · Pride Funding LLC
Jan 22, 2019
$370,000
Paragon Nj Properties LLC
Justiniano,angel & Flerida
Grant Deed
$395,000 · Accent Fndg LLC
Oct 15, 2010
—
Flerida Justiniano
Centro Cristiano Victoria En J
Grant Deed
related
—
Jan 3, 2006
$1
Cristiano Victoria En J Centro
Justiniano,flerida
Grant Deed
related
—
—
—
Flerida Justiniano
—
Deed Of Trust
related
$322,500 · Mary Weber
—
—
Patricia Weber
—
Deed Of Trust
related
$75,000 · Interchange Bank
—
—
Flerida Justiniano
—
Loan Modification
related
$322,500 · Mary P Weber
—
—
Mary Weber
—
Deed Of Trust
related
$56,944 · Interchange Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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