384 Paterson AveEast Rutherford, NJ 07073

Property Details for 384 Paterson Ave

Year built

2018

Property size (Sq ft)

552 SF

Property type

Office buildings

APN

12 00044-0000-00041-0000-C000O

APU

12000440000000410000C000O

Description

This exceptional 552-square-foot creative office condo in East Rutherford, New Jersey, presents a fantastic investment opportunity. Located at 384 Paterson Ave, 07073, this property boasts abundant natural light and is ideally suited for a variety of businesses. The asking price is $153,335, translating to $277.78 per square foot. The unit includes two covered parking spaces, providing convenient parking for employees or clients. Additional benefits include access to a basement storage area and the building's rooftop lounge, enhancing the overall workspace experience. Currently, there is a lease in place that expires September 30, 2025, with monthly fees of $106 and annual property taxes of $3,064. The lease includes rent increases scheduled for October 1st, 2023 ($1,200) and October 1st, 2024 ($1,300). This property offers a blend of modern amenities, convenient location in Bergen County, and a strong potential for future returns. Don't miss this chance to acquire a well-located and attractive creative office space.

• CAP approach

  CAP return

  Valuation

  6%

  $103,430

  6.5%

  $95,474.20

  7%

  $88,654.60

• Comparable approach

  Method

  Valuation

  Relative Method

  $72,124.30

  Geo Method

  $72,124.30

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $187,967

  Retail / Commercial

  $96,388.40

  Mixed-Use / Specialty

  $96,044.80

  Hospitality / Lodging

  $70,465

  Institutional / Educational

  $99,847.90

  Residential Income

  $116,822

  Multifamily

  $140,110

  Automotive / Energy

  $85,583.90

  Parking / Income-Based Land

  $29,534

  Restaurant / Food Service

  $49,953.60

  Healthcare / Senior Housing

  $98,492.10

Location Insight

City

East Rutherford

County

Bergen

State

New Jersey

Latitude

40.8382

Longitude

-74.1003

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].