Residential Over Two Ground-Floor Retail 2004-2006 Bergenline Ave 10 Unités d’appartements Vente à l’encan en ligne Union City, NJ 07087

As the exclusive advisor, Prominent Properties of Sotheby’s Realty proudly presents the twin mixed-use buildings with strong street presence and multiple income streams at 2004-2006 Bergenline Avenue in Union City, New Jersey.

This contiguous two-building investment property features eight one-bedroom, one-bathroom apartment units and two ground-floor retail storefronts, currently supporting local dry cleaning and home appliance retail operations. Both retail spaces will be delivered vacant as both retailers are retiring. The retail suites feature 12.5-foot ceilings and basements for extra storage. Historically, the landlord has paid taxes, and the tenants have paid their own utility bills for water, gas, and electricity. Immediate upside is available as this has been a long-established dry cleaner with a steady, strong customer base.

Bergenline Avenue is a heavily trafficked thoroughfare for cars and pedestrians. Visibility to more than 5,600 daily passing vehicles supports retail exposure. Access is easy, with ample nearby street parking. 2004-2006 Bergenline Avenue is near the Holland Tunnel and the George Washington Bridge, and the New York Waterway Ferry is within a five-minute drive, Midtown is reachable in six to eight minutes, and the Financial District is reachable in 10 to 15 minutes.

The North Hudson County Submarket is a dense area of the city, with more than 256,000 residents within a 2-mile radius. The average household income exceeds $121,100, and the local economy generates over $3.4 billion each year. A reported 76% of households are renter-occupied, with 35% being one- and two-bedroom unit configurations.

With potential rent increases and improvements, the cap rate could rise significantly higher, making this a compelling opportunity for investors.