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Property profile & analytics
OFF-MARKET
Estimated value
$1,505,000
Industrial properties
282-285 Railway Ave 285 Paterson, NJ 07503-1324
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-1654869
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Construction
BRICK
Total area
3,852 SF
Lot
0.25 ac (10,800 SF)
Zoning code
I-1
APN
08 07006-0000-00002
UPID
US59-1654869
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
$1.70M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.20M
Blend (final)
Blend
$1.51M
Owner & transaction history
Lawrence N Meyerson · 2 yrs held
Lawrence N Meyerson
since 2023
Last sale
$1.4M
3 recorded transactions
Zoning & alternative use
I-1 · Paterson, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.0M
+41.7%
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
$1,830,000
ML approach
$1,695,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,005,000
Change: +42% · Conversion: Difficult
Blend value · Realmo final
$1.51M
Range $1.35M – $1.66M · ±10% · vs last sale $1.40M (Nov 15 2023)
Last sale anchor
$1.40M
Nov 15 2023
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
$391 / 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
$26,775
Tax year 2022
Assessed value
$576,800
Assessed 2023
Previous assessed
$576,800
+0.0% YoY
Effective rate
4.64%
On assessed value
Assessed land
$91,400
Assessed improvement
$485,400
Land market value
$91,400
Improvement market value
$485,400
Total market value
$576,800
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
BRICK
Heating
NONE
Stories
1
Total area
3,852 SF
Lot
0.25 ac (10,800 SF)
Zoning code
I-1
APN
08 07006-0000-00002
UPID
US59-1654869
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
COMMERCIAL (GENERAL)
Est. value
$1.0M
COMMERCIAL (GENERAL)
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
BRICK
Heating
NONE
Stories
1
Lot
0.25 ac
Current owner
From public records · entity-resolved
Lawrence N Meyerson
Individual
Mailing address
1 PARAGON DR STE #240, MONTVALE, NJ 07645-1744
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 15, 2023
$1,400,000
Lawrence N Meyerson
Frank Cerinetti
Deed
$12,523,500 · Provident Bank
Oct 18, 2023
—
Frank Cerinetti
David M Repetto
Deed
—
Jan 22, 2020
—
Gaeta Associates LLC
Gaeta Associates
Correction Deed
related
—
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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