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1303 Summit Ave 1,900 SF 100% Leased Retail Building Union City, NJ 07087 $1,012,042 CAD ($532.65 CAD/SF) 7% 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 |
$90,456
|
$47.61
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$90,456
|
$47.61
|
| Taxes |
$13,956
|
$7.35
|
| Operating Expenses |
$6,980
|
$3.67
|
| Total Expenses |
$20,936
|
$11.02
|
| Net Operating Income |
$69,520
|
$36.59
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $90,456 |
| Annual Per SF | $47.61 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $90,456 |
| Annual Per SF | $47.61 |
| Taxes (CAD) | |
|---|---|
| Annual | $13,956 |
| Annual Per SF | $7.35 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $6,980 |
| Annual Per SF | $3.67 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $20,936 |
| Annual Per SF | $11.02 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $69,520 |
| Annual Per SF | $36.59 |
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
$1,012,042 CAD
Price Per SF
$532.65 CAD
Cap Rate
7%
NOI
$70,843 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.45
Lot Size
0.03 AC
Zoning
C
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 | $758,770 CAD (2025) |
| Land Assessment | $273,848 CAD (2025) | Annual Taxes | $13,956 CAD ($7.35 CAD/SF) |
| Improvements Assessment | $484,922 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
10-00068-0000-00009
Land Assessment
$273,848 CAD (2025)
Improvements Assessment
$484,922 CAD (2025)
Total Assessment
$758,770 CAD (2025)
Annual Taxes
$13,956 CAD ($7.35 CAD/SF)
Tax Year
2024
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1303 Summit Ave
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