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Property profile & analytics
FOR SALE
Commercial real estate
331 Market St Paterson, NJ 07501
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-2335270
For Sale
1 / 25
$639,000
331 Market St, Paterson, NJ 07501
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
BRICK
Total area
3,168 SF
Lot
0.07 ac (3,240 SF)
Zoning code
B-3
APN
08 04321-0000-00024
UPID
US59-2335270
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
$520k
CAP Approach
CAP
$645k
Comparable Approach
Comparable
$437k
Blend (final)
Blend
$520k
Owner & transaction history
Louise Rinvil Jean Merisma · 2 yrs held
Louise Rinvil Jean Merisma
since 2024
Last sale
$520,000
7 recorded transactions
Zoning & alternative use
B-3 · Paterson, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$585,000
+26.4%
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
$520,000
ML approach
$520,000
CAP Approach
CAP Return
Estimation
6%
$695,000
6.5%
$645,000
7%
$595,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$460,000
Current use
OFFICE BUILDING
$585,000
Change: +26% · Conversion: Easy
Blend value · Realmo final
$520k
Range $468k – $572k · ±10% · vs last sale $520k (Mar 27 2024)
Last sale anchor
$520k
Mar 27 2024
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
$164 / 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
$10,858
Tax year 2022
Assessed value
$233,900
Assessed 2023
Previous assessed
$233,900
+0.0% YoY
Effective rate
4.64%
On assessed value
Assessed land
$66,400
Assessed improvement
$167,500
Land market value
$66,400
Improvement market value
$167,500
Total market value
$233,900
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Construction
BRICK
Heating
NONE
Stories
2
Total area
3,168 SF
Lot
0.07 ac (3,240 SF)
Zoning code
B-3
APN
08 04321-0000-00024
UPID
US59-2335270
Jurisdiction
PASSAIC
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
B-3 · Paterson, NJ
Zoning B-3 · permitted uses
B-3 · 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) Current
Est. value
$460,000
OFFICE BUILDING
Est. value
$585,000
COMMERCIAL (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
BRICK
Heating
NONE
Stories
2
Lot
0.07 ac
Current owner
From public records · entity-resolved
Louise Rinvil Jean Merisma
Individual
Mailing address
331 MARKET ST, PATERSON, NJ 07501
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 27, 2024
$520,000
Louise Rinvil Jean Merisma
Ana Garcia
Deed
$510,581 · Cmg Mortgage INC
May 11, 2017
—
Ana Garcia
—
Deed
related
$143,429 · Midfirst Bk
Mar 8, 2005
$240,000
Ana Garcia
Witin Garcia
Deed
related
$235,000 · 1st Residential Mtg
Nov 14, 2001
$100,000
Witin Garcia
Carson,michael & Sue
Grant Deed
$80,000 · Michael & Sue Carson
—
—
Garcia,ana
—
Loan Modification
related
$148,382 · Midfirst Bk
—
—
Garcia,ana J
—
Deed Of Trust
related
$61,376 · Hud-housing/urban Dev
—
—
Ana Garcia
—
Loan Modification
related
$143,429 · Midfirst Bk
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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