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2004-2006 Bergenline Ave 10 Unit Apartment Building $3,076,942 CAD ($307,694 CAD/Unit) 6.71% Cap Rate Union City, NJ 07087
Investment Highlights
- High-traffic area with high walk score (95)
- 5 minute drive to the NY Waterway Ferry
- Near Holland Tunnel and George Washington Bridge
- 30 minutes to Manhattan via NJ Transit bus
- Lincoln Tunnel: approximately 20 minutes to NYC
- Easy access to all major highways
Executive Summary
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.
Financial Summary (Pro Forma - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$299,177
|
$29.33
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$14,959
|
$1.47
|
| Effective Gross Income |
$284,218
|
$27.86
|
| Taxes |
$49,754
|
$4.88
|
| Operating Expenses |
$27,976
|
$2.74
|
| Total Expenses |
$77,730
|
$7.62
|
| Net Operating Income |
$206,489
|
$20.24
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $299,177 |
| Annual Per SF | $29.33 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $14,959 |
| Annual Per SF | $1.47 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $284,218 |
| Annual Per SF | $27.86 |
| Taxes (CAD) | |
|---|---|
| Annual | $49,754 |
| Annual Per SF | $4.88 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $27,976 |
| Annual Per SF | $2.74 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $77,730 |
| Annual Per SF | $7.62 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $206,489 |
| Annual Per SF | $20.24 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $4,171 CAD | - |
1 1
Walk Score®
Walker's Paradise (97)
Transit Score®
Excellent Transit (87)
Property Taxes
| Parcel Number | 10-00110-0000-00003 | Total Assessment | $3,615,634 CAD |
| Land Assessment | $705,172 CAD | Annual Taxes | $49,754 CAD ($4.88 CAD/SF) |
| Improvements Assessment | $2,910,462 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
10-00110-0000-00003
Land Assessment
$705,172 CAD
Improvements Assessment
$2,910,462 CAD
Total Assessment
$3,615,634 CAD
Annual Taxes
$49,754 CAD ($4.88 CAD/SF)
Tax Year
2025
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2004-2006 Bergenline Ave
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