Commercial space For Sale in Union City, NJ
MLS# : 250019961
Street : 814-816 SUMMIT AVE
Price : $1,698,000
Town : Union City, NJ 07087
Annual Taxes : $36,000
PROPERTY DETAILS
PROPERTY DESCRIPTION
Commercial Mixed-Use. Prime Investment Opportunity in Union City. Eight residential units plus a commercial retail store that can be used as two stores in the future as building is 100% occupied. The retail space has high ceilings and includes a full basement, providing additional storage or functional space. Tenants pay seperate utilities: electric, heat, hot water and cooking gas.. Inquire for full details on income and expenses. Great income with upside potential. Located in a highly desirable area with heavy foot traffic.
Amenities
This listing is a courtesy of COMPASS NEW JERSEY, LLC
201-627-4947 office, listing agent ANDREW BOTTICELLI
About Union City, NJ Real Estate Market
With over 67,000 residents, Union City is an integral part of Hudson County in New Jersey state. Located in the northern part of Hudson County, Union City spans just 1.29 square miles, thus making it one of the most densely populated cities in the country and a part of the New York Metropolitan area.
The Union City is situated atop the ridge of the lower Hudson Palisades. Due to a high elevation, the city offers clear views of surrounding municipalities like New Jersey Meadowlands and New York City Skyline. It shares its borders with other parts of Hudson County, such as Jersey City, Hoboken, Weehawken, North Bergen and West New York.
The formation of Union City as a city happened in 1925 by an act of the New Jersey Legislature. Union City was established by merging Union Hill and West Hoboken Township. The city’s name got derived from the names of these two municipalities. In its early stages, Union City was inhabited by German and Spanish speaking people.
Union City is divided into two parts by New Jersey Route 495, which resulted in the renaming of many street names in the city. Most of the homes for sale in this part of Hudson County are located on streets like 32nd Street, Hackensack Plank Road and Bergen Turnpike, which form Union City’s urban grid.
The Union City is situated atop the ridge of the lower Hudson Palisades. Due to a high elevation, the city offers clear views of surrounding municipalities like New Jersey Meadowlands and New York City Skyline. It shares its borders with other parts of Hudson County, such as Jersey City, Hoboken, Weehawken, North Bergen and West New York.
The formation of Union City as a city happened in 1925 by an act of the New Jersey Legislature. Union City was established by merging Union Hill and West Hoboken Township. The city’s name got derived from the names of these two municipalities. In its early stages, Union City was inhabited by German and Spanish speaking people.
Union City is divided into two parts by New Jersey Route 495, which resulted in the renaming of many street names in the city. Most of the homes for sale in this part of Hudson County are located on streets like 32nd Street, Hackensack Plank Road and Bergen Turnpike, which form Union City’s urban grid.
| Population: | 65,551 |
| Total Housing Units: | 22,411 |
| Single Family Homes: | 5,756 |
| Apartments: | 16,655 |
| General Tax Rate (2023): | 7.438% |
| Effective Tax Rate (2023): | 2.161% |
| Compare To Other Towns |
Union City Market Indicators
PRICE INDEX
| Average Price* (12mo): | $538,957 |
| Homes Sold* (12mo): | 8 |
PRICE INDEX
SINGLE FAMILY HOME SALES
Union City, NJ
SINGLE FAMILY HOME SALES
Union City, NJ
12 Month Moving Average
1 YR
2 YR
3 YR
5 YR
7 YR
MAX
PRICE INDEX
| Average Price* (12mo): | $442,228 |
| Apatments Sold* (12mo): | 135 |
PRICE INDEX
APARTMENT SALES
Union City, NJ
APARTMENT SALES
Union City, NJ
12 Month Moving Average
1 YR
2 YR
3 YR
5 YR
7 YR
MAX
REAL ESTATE TAXES
| General Tax Rate (2023): | 7.438% |
| Effective Tax Rate (2023): | 2.161% |
GENRAL TAX RATE - Union City, NJ
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MADISON ADAMSTM
office: 201-760-1100
84 E Ridgewood Ave, Suite 201
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
| Homes : | $599,000 - 650,000 | 3 |
| Condos : | $200,000 - 1,275,000 | 58 |
| Co-ops : | $265,000 - 595,000 | 23 |
| Twnhs : | - | |
| 2-4 Fam : | $643,000 - 1,499,000 | 18 |
| 5+ Fam : | $1,075,000 - 1,099,000 | 2 |
| Land : | $450,000 - 1,475,000 | 2 |
| Rentals : | $1,500 - 3,700 | 10 |
| Mixd Use : | $949,900 - 2,650,000 | 6 |
| Com S : | - | |
| Com L : | - | |
| Biz : | $50,000 - 80,000 | 5 |
