1300 Summit AveUnion City, NJ 07087

Property Details for 1300 Summit Ave

Construction

BRICK

Lot size

0.06 AC

Property type

Commercial real estate

APN

10 00067-0000-00017- 01

APU

100006700000001701

Description

This exceptional mixed-use property, located at 1300 Summit Ave in Union City, New Jersey, presents a compelling investment opportunity. The three-story building boasts nine units and offers a strong 7.93% capitalization rate, generating a net operating income (NOI) of $158,639. The asking price is $2,000,000. Renovated in 2018, the building is well-maintained and situated in a prime Union City location with significant growth potential. The property's mixed-use zoning allows for a variety of uses, enhancing its versatility and investment appeal. A valuable liquor license is included in the sale price, adding further to the property's income-generating potential. This is a rare opportunity to acquire a well-positioned, income-producing asset in a thriving New Jersey market. The property is conveniently located in Hudson County, New Jersey, with the zip code 07087. This turnkey investment is ready for a new owner to capitalize on its existing strong performance and future growth prospects. The building's excellent condition and desirable location make it an attractive option for both seasoned investors and those seeking a stable, high-return investment.

• CAP approach

  CAP return

  Valuation

  6%

  $499,351

  6.5%

  $460,940

  7%

  $428,015

• Comparable approach

  Method

  Valuation

  Relative Method

  $348,209

  Geo Method

  $348,209

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $907,484

  Retail / Commercial

  $465,353

  Mixed-Use / Specialty

  $463,694

  Hospitality / Lodging

  $340,198

  Office

  $460,940

  Institutional / Educational

  $482,055

  Residential Income

  $564,005

  Multifamily

  $676,437

  Automotive / Energy

  $413,190

  Parking / Income-Based Land

  $142,587

  Restaurant / Food Service

  $241,171

  Healthcare / Senior Housing

  $475,510

Location Insight

City

Union City

County

Hudson

State

New Jersey

Latitude

40.762

Longitude

-74.041

CBSA code

35620

CBSA name

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

Property Tax & Assessments

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