Lease or Sale 507-511 45th St 8,300 SF Retail Building Union City, NJ 07087 For Sale

VACANT RETAIL/OFFICE USE BUILDING in UNION CITY for SALE or LEASE
For Lease: 1st Fl $32 psf plus NNN (Retail)
2nd Fl $25 psf plus NNN (Office)
For Sale: Contact Broker
CRDS has been exclusively retained to market
the sale or lease of 509–511 45th Street, a mixed-use
property located in Union City, NJ. The offering
consists of a commercial retail and multi-family
asset situated on a 0.11-acre parcel (approx.
4,800 SF) within the thriving Hudson Waterfront
submarket, part of the broader New York–Jersey
City metro area.
This property is located in a high-density
neighborhood with a population of
approximately 95,000 within a one-mile radius,
and a projected growth of 3.7% from 2024 to
2029. It offers exceptional connectivity, just steps
from Bergenline Avenue and Tonnelle Avenue
Light Rail stops, and less than one mile from the
Port Imperial Ferry Terminal—a key commuter
route to Manhattan.
Local demographics support continued
investment, with a median household income of
~$64,000 within one mile and rising to ~$96,000
within a 3–5 mile range. Property values in the
area are steadily increasing.
Value-Add & Upside Potential
Commercial Leasing Opportunity
The ground-floor retail component is well-suited
for a variety of professional or service-oriented
uses—such as urgent care, medical offices, or
boutique retailers—benefiting from heavy
pedestrian traffic and strong street visibility.
Multi-Family Rental Upside
The existing multi-family units offer upside
potential through renovation or repositioning,
with market rents expected to exceed $3,300/
month based on local comparable properties.
Redevelopment Potential
Favorable zoning and land use regulations provide
an opportunity to combine the parcels for a higher
-density, mixed-use redevelopment, maximizing
long-term value.