2004 Bergenline Ave
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2004 Bergenline Ave
10 Unit Apartment Building $3,199,500 CAD ($319,950 CAD/Unit) 6.54% 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 6.09% 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 6.8% cap rate with vacancy loss and 7.07% effective cap rate at list price.
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$290,088
|
$82.65
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$14,504
|
$4.13
|
| Effective Gross Income |
$275,584
|
$78.51
|
| Taxes |
$51,747
|
$14.74
|
| Operating Expenses |
$29,097
|
$8.29
|
| Total Expenses |
$80,844
|
$23.03
|
| Net Operating Income |
$194,740
|
$55.48
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $290,088 |
| Annual Per SF | $82.65 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $14,504 |
| Annual Per SF | $4.13 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $275,584 |
| Annual Per SF | $78.51 |
| Taxes (CAD) | |
|---|---|
| Annual | $51,747 |
| Annual Per SF | $14.74 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $29,097 |
| Annual Per SF | $8.29 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $80,844 |
| Annual Per SF | $23.03 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $194,740 |
| Annual Per SF | $55.48 |
Property Facts
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $4,337 CAD | - |
1 of 1
Walk Score ®
Walker's Paradise (95)
Transit Score ®
Excellent Transit (87)
PROPERTY TAXES
| Parcel Number | 10-00110-0000-00003 | Total Assessment | $3,511,868 CAD (2024) |
| Land Assessment | $725,218 CAD (2024) | Annual Taxes | $51,747 CAD ($14.74 CAD/SF) |
| Improvements Assessment | $2,786,650 CAD (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
10-00110-0000-00003
Land Assessment
$725,218 CAD (2024)
Improvements Assessment
$2,786,650 CAD (2024)
Total Assessment
$3,511,868 CAD (2024)
Annual Taxes
$51,747 CAD ($14.74 CAD/SF)
Tax Year
2023
zoning
| Zoning Code | C |
| C |
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2004 Bergenline Ave
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