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

    508 Straight St, Unit 530 Paterson, NJ 07503-3044

    • Industrial properties
    • 30,906 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $3,450,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1908922
    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

    • Straight & Narrow / Charity / Rehabilitation Center

    Property Details for 508 Straight St

    Construction
    CONCRETE BLOCKS
    Lot size
    0.46 lot acres
    Property size
    30,906 SF
    Zone code
    I-2
    Property type
    Industrial properties
    APN
    08 05802-0000-00001
    APU
    805802000000001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $5,690,000
      Current use
      OFFICE BUILDING
      $5,690,000
      Change: +0% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Paterson
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.1667
    Latitude
    40.9064
    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
    2022
    $82,943
    $202,400
    $1,584,400
    $1,786,800
    -
    $202,400
    $1,584,400
    $1,786,800

    Comparable in this City

    • Value Estimation
      $5,560,000
      36,985 SF

      43 Railway Ave, Unit 53

      INDUSTRIAL (GENERAL) • 36,985 SF
      43 Railway Ave, Paterson, NJ 07503
      View Details
    • Value Estimation
      $1,000,000
      10,819 SF

      189 Pennsylvania Ave, Unit 193

      INDUSTRIAL (GENERAL) • 10,819 SF
      189 Pennsylvania Ave, Paterson, NJ 07503-2118
      View Details
    • Value Estimation
      $9,285,000
      23,110 SF

      243-247 Lindbergh Pl, Unit 247

      INDUSTRIAL (GENERAL) • 23,110 SF
      243-247 Lindbergh Pl, Paterson, NJ 07503-2800
      View Details
    • Value Estimation
      $865,000
      10,120 SF

      81-91 Ct St

      INDUSTRIAL (GENERAL) • 10,120 SF
      81-91 Ct St, Paterson, NJ 07503
      View Details
    • Value Estimation
      $1,740,000
      14,959 SF

      24-46 Swineburne St, Unit 46

      INDUSTRIAL (GENERAL) • 14,959 SF
      24-46 Swineburne St, Paterson, NJ 07503-2931
      View Details
    • Value Estimation
      $1,415,000
      12,732 SF

      20 California Ave, Unit 22

      INDUSTRIAL (GENERAL) • 12,732 SF
      20 California Ave, Paterson, NJ 07503-2503
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,000 SF

      Paterson Industrial Property For Sale

      Manufacturing building, 3,000 sq ft, 0.9 acres
      16 Bloomfield Ave, Paterson, NJ 07503
      View Details
    • $4,980,000
      0.33 Acres

      Paterson Industrial Land Investment

      Prime I-2 zoned land, high development potential.
      21 Florida Ave, Paterson, NJ 07503
      View Details
    • $1,950,000
      5,000 SF

      Versatile Commercial Building with Gated Lot

      5000 SF commercial building on 10,000 SF lot.
      72-78 Illinois Ave, Paterson, NJ 07503
      View Details
    • $1,599,000

      Industrial Property with Route 80 Access

      Industrial property with high visibility and immediate highway access.
      32 California Ave, Paterson, NJ 07503
      View Details
    • $130,000

      Profitable Restaurant with Outdoor Patio

      Turnkey restaurant with loyal customer base and outdoor dining.
      789 Main St, Paterson, NJ 07503
      View Details
    • $19,800,000

      Paterson Land Redevelopment Opportunity

      Land with redevelopment potential near St. Joseph's University Medical Center.
      70 Levine St, Paterson, NJ 07503
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      87,000 SF

      Industrial Space Available For Lease

      18,000 SF industrial space with 1,250 SF office.
      91 Michigan Ave, Paterson, NJ 07503
      View Details
    • Contact for pricing
      106,521 SF

      Industrial Facility in Paterson, NJ

      245,529 SF industrial facility on 7.5 acres for lease.
      1200 Madison Ave, Paterson, NJ 07503
      View Details
    • $2,500 /Mo
      7,405 SF

      Paterson City Office Space For Lease

      1,100 sq ft office space in busy strip mall.
      311 Crooks Ave, Paterson, NJ 07503
      View Details
    • $1,600 /Mo

      Office Space with Parking

      Office space featuring two rooms, open area, and parking.
      970 Main St, Paterson, NJ 07503
      View Details
    • $2,500 /Mo

      Residential Income Property For Rent

      Multifamily property available for rent in Paterson, New Jersey.
      65 Dey St, Paterson, NJ 07503
      View Details
    • $2,300 /Mo

      Clifton Border Home For Rent

      Home for rent featuring newer kitchen and bath.
      119 Buffalo Ave, Paterson, NJ 07503
      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.
    508 Straight St, Unit 530
    Paterson, NJ 07503-3044
    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.