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611 Summit Ave 1,911 SF 100% Leased Retail Building Union City, NJ 07087 $1,046,940 CAD ($547.85 CAD/SF) 6.51% Cap Rate
INVESTMENT HIGHLIGHTS
- 2 Unit Mixed Use
- Passive Investment Building
- Convenient Location Summit & Paterson Plank
- All Utilities Separate Water/Sewer/Electric/Gas
- Close Proximity to Mass Transit
- Updated Residential Unit
EXECUTIVE SUMMARY
611 Summit Ave offers an opportunity to acquire a 2 unit mixed use building on bustling Summit Ave & Paterson Plank Rd with a long standing commercial tenant with 5% annual rent increases and an updated residential unit that can be delivered vacant.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
1,911 SF
Building Class
C
Year Built
1930
Price
$1,046,940 CAD
Price Per SF
$547.85 CAD
Cap Rate
6.51%
NOI
$68,108 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.10
Lot Size
0.04 AC
Zoning
C
Frontage
37’ on Summit Ave
AMENITIES
- Bus Line
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Mamie's Cafe Corp
- Retailer
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Mamie's Cafe Corp | Retailer | - | - | - |
Walk Score®
Walker's Paradise (95)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 10-00031-0000-00022 | Improvements Assessment | $482,151 CAD |
| Land Assessment | $344,792 CAD | Total Assessment | $826,943 CAD |
PROPERTY TAXES
Parcel Number
10-00031-0000-00022
Land Assessment
$344,792 CAD
Improvements Assessment
$482,151 CAD
Total Assessment
$826,943 CAD
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611 Summit Ave
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