2004 Bergenline Ave - Apartments FOR SALE


Union City, NJ 07087
$2,250,000 USD
201-840-8898
2004 Bergenline Ave, Union City, NJ for Sale
$2,250,000 USD
Apartments - FOR SALE
1/15
null | 6.71% Cap Rate

2004 Bergenline Ave
Union City, NJ 07087


HIGHLIGHTS

  • High-traffic area with high walk score (95)
  • 30 minutes to Manhattan via NJ Transit bus
  • 5 minute drive to the NY Waterway Ferry
  • Lincoln Tunnel: approximately 20 minutes to NYC
  • Near Holland Tunnel and George Washington Bridge
  • Easy access to all major highways

OVERVIEW

Exceptional investment opportunity in the heart of Union City on Bergenline Ave - high-traffic area with very high walk score (95). 2 retail stores on ground floor + 8 residential apartment units upstairs: Approx. 10,200 SF GBA. 12.5' ceiling height and basements for extra storage in retail spaces; Longtime established dry cleaner with steady strong customer base; and Fully occupied 8 apartments. Available Immediately. Nearby retailers: Dunkin Donuts, Valley bank, Post Office, restaurants, dry-cleaner, laundromats, pharmacy. Easy access to all major highways. Ample street parking in the vicinity. Please see brochure for more info. Brochure includes 5% vacancy loss in cap rate analysis for underwriting purposes... building still produces 6.2% cap rate at list price, with vacancy loss consideration. Dry cleaner is currently owner operated and can be delivered vacant or with new operator. New operator would yield 6.7% cap rate with vacancy loss and 7.2% effective cap rate at list price.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$641 USD /SF

# OF UNITS

10

PRICE/UNIT

$225,000

CAP RATE

6.71%

% LEASED

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1933

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

C

APN/PARCEL ID

10-00110-0000-00003

ASK ABOUT THIS PROPERTY

Henry SongProminent Properties CommercialMore Info
201-840-8898

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Henry SongProminent Properties CommercialMore Info
201-840-8898

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.