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

    948 Paterson Ave East Rutherford, NJ 07073-1062

    • Commercial real estate
    • 6,272 SF
    • 0.24 lot acres
    OFF-MARKET
    Last Sale
    Dec 09, 2022
    Value Estimations
    $825,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-3164512
    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

    • Bloomfield Drapery Co / (Bike/Boat/Book/etc) Store / Home Decor Store

    Property Details for 948 Paterson Ave

    Year built
    1960
    Construction
    METAL FRAME
    Lot size
    0.24 lot acres
    Property size
    6,272 SF
    Property type
    Commercial real estate
    APN
    12 00002-0000-00004
    APU
    1200002000000004

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,014,000
      Market price range: $712k - $1.85M
      AI Estimate
      $550,000
      Market price range: $335k - $1.06M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,285,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    East Rutherford
    County
    Bergen
    State
    New Jersey
    Longitude
    -74.1175
    Latitude
    40.852
    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
    $17,988
    $486,000
    $595,200
    $1,081,200
    -
    $486,000
    $595,200
    $1,081,200

    Comparable in this City

    • Value Estimation by Request
      3.90 Acres

      300 State Rt 17

      COMMERCIAL (GENERAL) • 3.90 Acres
      300 State Rt 17, East Rutherford, NJ 07073-2102
      View Details
    • Value Estimation
      $5,780,000
      40,787 SF

      Paterson Ave At Willow St

      COMMERCIAL (GENERAL) • 40,787 SF
      Paterson Ave At Willow St, East Rutherford, NJ 07073
      View Details
    • Value Estimation
      $725,000
      4,762 SF

      135 Ann St

      COMMERCIAL (GENERAL) • 4,762 SF
      135 Ann St, East Rutherford, NJ 07073-1501
      View Details
    • Value Estimation
      $570,000
      2,798 SF

      200 Hackensack St

      COMMERCIAL (GENERAL) • 2,798 SF
      200 Hackensack St, East Rutherford, NJ 07073-1521
      View Details
    • Value Estimation
      $1,315,000
      6,952 SF

      90 Hackensack St

      COMMERCIAL (GENERAL) • 6,952 SF
      90 Hackensack St, East Rutherford, NJ 07073-1414
      View Details
    • Value Estimation
      $3,905,000
      32,448 SF

      419 Murray Hl Pkwy

      COMMERCIAL (GENERAL) • 32,448 SF
      419 Murray Hl Pkwy, East Rutherford, NJ 07073-2107
      View Details

    Similar Nearby for Sale

    • $1,190,000

      Mixed-Use Property in East Rutherford

      Versatile mixed-use building with restaurant, store, and apartment.
      233-235 Paterson Ave, East Rutherford, NJ 07073
      View Details
    • $24,000,000

      Bergen County Warehouse/Flex Opportunity

      105,544 SF warehouse/flex building on 6.29 acres in Bergen County.
      2 E Union Ave, East Rutherford, NJ 07073
      View Details
    • $3,490,000

      Turnkey Restaurant and Apartment Building

      Fully renovated retail building with restaurant and apartment plus parking.
      340 Paterson Ave, East Rutherford, NJ 07073
      View Details
    • $1,300,000
      Pending

      East Rutherford Six-Unit Apartment Complex

      Well-maintained 6-unit apartment building in prime East Rutherford location.
      66 River St, East Rutherford, NJ 07073
      View Details
    • $629,000

      Elegant Condominium with NYC Views

      2-bedroom, 2-bathroom condo with NYC skyline views.
      132 Union Ave, East Rutherford, NJ 07073
      View Details
    • $999,999

      East Rutherford Multifamily Investment Opportunity

      Newer construction multifamily property in desirable East Rutherford location.
      368 Paterson Ave, East Rutherford, NJ 07073
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      54,354 SF

      East Rutherford Warehouse Space Available

      53,754± SF warehouse with ample parking and loading docks.
      343 Murray Hill Pkwy, East Rutherford, NJ 07073
      View Details
    • $2,400 /Mo

      East Rutherford Two Bedroom Apartment

      Second-floor apartment with new kitchen, parking, and yard.
      202 Boiling Springs Ave, East Rutherford, NJ 07073
      View Details
    • Contact for pricing
      34,740 SF

      East Rutherford Warehouse with Parking

      Warehouse with parking, storage, and easy access to major routes.
      880-890 Paterson Plank Rd, East Rutherford, NJ 07073
      View Details
    • Contact for pricing
      12,336 SF

      Modern Office Space Available

      Class A office building with on-site amenities.
      1 Meadowlands Plz, East Rutherford, NJ 07073
      View Details
    • $24 SF/Yr
      102,076 SF

      Liberty Commons Retail Space

      East Rutherford, NJ Retail Opportunity
      51 Nj-17, East Rutherford, NJ 07073
      View Details
    • $3,750 /Mo

      Modern Office Building Near NYC

      Freestanding 2,850 SF office space near NYC transportation.
      334 Paterson Ave, East Rutherford, NJ 07073
      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.
    948 Paterson Ave
    East Rutherford, NJ 07073-1062
    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.