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611 Summit Ave 1,911 SF 100% Leased Retail Building Union City, NJ 07087 $1,025,423 CAD ($536.59 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
$1,025,423 CAD
Price Per SF
$536.59 CAD
Cap Rate
6.51%
NOI
$66,709 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 | $480,624 CAD |
| Land Assessment | $343,700 CAD | Total Assessment | $824,325 CAD |
Property Taxes
Parcel Number
10-00031-0000-00022
Land Assessment
$343,700 CAD
Improvements Assessment
$480,624 CAD
Total Assessment
$824,325 CAD
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611 Summit Ave
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