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1303 Summit Ave 1,900 SF 100% Leased Retail Building Union City, NJ 07087 $955,568 CAD ($502.93 CAD/SF) 7.26% Cap Rate
Executive Summary
Exceptional mixed-use property in a highly desirable location. The first floor features a commercial storefront complete with a full basement, half bathroom, and small private outdoor space — ideal for a variety of business uses or rental income. The second floor offers a spacious 3-bedroom, 2-bath apartment featuring a kitchen, living room, dining area, and central air conditioning for added comfort. Conveniently located just minutes from NYC transportation and NJ Transit, this property is perfect for investors or owner-occupants seeking strong income potential in a prime location. #1 $2,900 #2 $2,500
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$88,585
|
$46.62
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$88,585
|
$46.62
|
| Taxes |
$13,668
|
$7.19
|
| Operating Expenses |
$6,835
|
$3.60
|
| Total Expenses |
$20,503
|
$10.79
|
| Net Operating Income |
$68,082
|
$35.83
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $88,585 |
| Annual Per SF | $46.62 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $88,585 |
| Annual Per SF | $46.62 |
| Taxes (CAD) | |
|---|---|
| Annual | $13,668 |
| Annual Per SF | $7.19 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $6,835 |
| Annual Per SF | $3.60 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $20,503 |
| Annual Per SF | $10.79 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $68,082 |
| Annual Per SF | $35.83 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
1,900 SF
Building Class
C
Year Built
2001
Price
$955,568 CAD
Price Per SF
$502.93 CAD
Cap Rate
7.26%
NOI
$69,374 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.45
Lot Size
0.03 AC
Zoning
C - Commercial
Frontage
22’ on Summit Ave
Amenities
- Bus Line
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- La Belle Talent Agency
- -
- -
- -
- -
- Labelle Town School
- Educational Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| La Belle Talent Agency | - | - | - | - | ||
| Labelle Town School | Educational Services | - | - | - |
Walk Score®
Walker's Paradise (96)
Nearby Major Retailers
Property Taxes
| Parcel Number | 10-00068-0000-00009 | Total Assessment | $738,617 CAD (2025) |
| Land Assessment | $266,575 CAD (2025) | Annual Taxes | $13,668 CAD ($7.19 CAD/SF) |
| Improvements Assessment | $472,042 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
10-00068-0000-00009
Land Assessment
$266,575 CAD (2025)
Improvements Assessment
$472,042 CAD (2025)
Total Assessment
$738,617 CAD (2025)
Annual Taxes
$13,668 CAD ($7.19 CAD/SF)
Tax Year
2024
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1303 Summit Ave
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