572 Union Blvd - Flex FOR SALE


Totowa, NJ 07512
$999,999 USD
973-994-9009
572 Union Blvd, Totowa, NJ for Sale
$999,999 USD
Flex - FOR SALE
1/2
null | Request Cap Rate

NEW


572 Union Blvd
Totowa, NJ 07512


OVERVIEW

Value-Add Mixed-Use Opportunity with Residential Unit, Garage, and Redevelopment Potential. Exceptional mixed-use property offering tremendous flexibility for investors, business owners, developers, or owner-occupants. The building features approximately 5,200 square feet of combined space, including a large commercial storefront, attached garage, expansive second-floor retail/warehouse area, and a spacious 3-bedroom, 1.5-bath apartment. The commercial storefront and additional commercial spaces are in generally good condition, with functioning heat throughout the building. The upstairs retail/warehouse space includes an existing air conditioning unit. A major highlight of the property is its highly adaptable layout. The existing configuration may lend itself to a variety of potential uses, including expanded commercial operations, additional residential units (subject to approvals), warehouse/storage use, professional offices, retail space, or a live/work setup. Situated on an approximately 60' x 125' lot, the property also offers a massive fenced backyard with the potential for additional parking, outdoor storage, or future improvements. Existing parking includes a front driveway accommodating two vehicles, an oversized garage capable of housing two or more vehicles, and additional frontage parking previously utilized by the owner. Ample street parking further enhances accessibility. Whether you're seeking an income-producing asset, redevelopment opportunity, owner-user property, or value-add investment, this unique mixed-use building offers substantial upside potential and endless possibilities. Pro Forma Income Potential Based on market rents and the property's flexible layout, the following represents a potential stabilized income scenario: Residential Unit (3 Bed / 1.5 Bath) Estimated market rent: $3,500–$4,000/month Annual gross rent: $42,000–$48,000 Commercial Space (Approx. 4,000 SF Combined) Downstairs storefront, attached garage, and second-floor retail/warehouse space. Projected rent at approximately $2.00 per square foot per month, which is below many comparable commercial rental rates in the area. Estimated monthly rent: $8,000/month Annual gross rent: $96,000/year Potential Total Gross Income Monthly: $11,500–$12,000/month Annual: $138,000–$144,000/year Buyers should perform their own due diligence regarding zoning, permitted uses, rental rates, and future development opportunities.

FOR SALE DETAILS

PRICE

$999,999 USD

PRICE/SF

$192 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Flex

ADD'L SUBTYPES

Storefront Retail/Office, Storefront Retail/Residential, Warehouse

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1940

UTILITIES

Lighting - Fluorescent, Gas - Natural, Water - City, Sewer - City, Heating - Gas

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

B-2

APN/PARCEL ID

12-00139-0000-00002

ASK ABOUT THIS PROPERTY

Dave SimonettiElite Realtors of New JerseyMore Info
973-994-9009

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

Dave SimonettiElite Realtors of New JerseyMore Info
973-994-9009

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