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

    517-519 Park Ave, Unit 519 Paterson, NJ 07504-1533

    • Commercial real estate
    • 4,236 SF
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    Sep 05, 2025
    $750,000
    Value Estimations
    $805,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-2677151
    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

    • Commercial real estate

    Property Details for 517-519 Park Ave

    Construction
    FRAME
    Lot size
    0.10 lot acres
    Property size
    4,236 SF
    Zone code
    B-1
    Property type
    Commercial real estate
    APN
    08 08605-0000-00012
    APU
    808605000000012

    Description

    This exceptional mixed-use property, located at 517-519 Park Avenue in Paterson, New Jersey, presents a compelling investment opportunity. Priced at $879,000, the property offers significant potential for income generation and future appreciation. While the exact square footage is not currently specified, the property's classification as "Other" suggests a versatile layout suitable for a variety of commercial and/or residential uses. The absence of acreage information indicates the property is likely situated on a standard city lot. Its prime location on Park Avenue in Paterson offers excellent visibility and accessibility, making it an attractive proposition for businesses seeking a strong presence in a vibrant urban setting. The property's potential is further enhanced by its location within Paterson, a city experiencing growth and development. Serious investors are encouraged to conduct their own due diligence to fully assess the property's potential and suitability for their specific investment goals. This is a rare opportunity to acquire a well-situated property in a dynamic market, offering a strong return on investment for the discerning buyer. Further details regarding the property's specific features and zoning regulations can be obtained through the appropriate channels. Don't miss this chance to secure a valuable asset in a thriving New Jersey community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $930,000
      6.5%
      $860,000
      7%
      $800,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $850,000
      Market price range: $387k - $1.03M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $800,000
      Current use
      OFFICE BUILDING
      $780,000
      Change: -3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Paterson
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.143
    Latitude
    40.9137
    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
    $16,767
    $109,200
    $252,000
    $361,200
    -
    $109,200
    $252,000
    $361,200

    Comparable in this City

    • Value Estimation
      $580,000
      5.01 Acres

      283 43rd St, Unit 307

      COMMERCIAL (GENERAL) • 5.01 Acres
      283 43rd St, Paterson, NJ 07504-1217
      View Details
    • Value Estimation by Request

      518 Park Ave

      COMMERCIAL (GENERAL)
      518 Park Ave, Paterson, NJ 07504-1532
      View Details
    • Value Estimation by Request

      251-281 Mclean Pepboys

      COMMERCIAL (GENERAL)
      251-281 Mclean Pepboys, Paterson, NJ 07504
      View Details
    • Value Estimation
      $1,005,000
      5,032 SF

      319 33rd St, Unit 339

      COMMERCIAL (GENERAL) • 5,032 SF
      319 33rd St, Paterson, NJ 07504-1638
      View Details
    • Value Estimation by Request

      511-515 38th St, Unit 515

      COMMERCIAL (GENERAL)
      511-515 38th St, Paterson, NJ 07504-1404
      View Details
    • Value Estimation
      $950,000
      8,674 SF

      514 Park Ave

      COMMERCIAL (GENERAL) • 8,674 SF
      514 Park Ave, Paterson, NJ 07504-1585
      View Details

    Similar Nearby for Sale

    • $599,000

      Two-Family Home on Corner Lot

      Two-unit property with modern updates and ample parking.
      678-680 E 23Rd St, Paterson, NJ 07504
      View Details
    • $699,999
      0.08 Acres

      Spacious Multi-Family Home, 11 Bedrooms

      Three-family home with 11 bedrooms and strong rental potential.
      475 Park Ave, Paterson, NJ 07504
      View Details
    • $699,999

      Spacious Three-Family Home

      Large 11-bedroom home with finished basement in Paterson, NJ.
      473 Park Ave, Paterson, NJ 07504
      View Details
    • $999,999
      Pending

      Paterson City Commercial Building

      Vacant commercial building suitable for house of worship or daycare.
      433 Park Ave, Paterson, NJ 07504
      View Details
    • $699,000
      0.06 Acres

      Charming Two-Family Home with Updates

      Two-family home with renovated unit, finished attic and basement.
      712 E 27Th St, Paterson, NJ 07504
      View Details
    • New
      $525,000
      Pending

      Multi-Family Home in Paterson City

      Three-story multi-family home in Paterson City, New Jersey.
      324 E 30Th St, Paterson, NJ 07504
      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.
    517-519 Park Ave, Unit 519
    Paterson, NJ 07504-1533
    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.