Commercial space For Sale in Union City, NJ
MLS# : 250022905
PROPERTY DETAILS
PROPERTY DESCRIPTION
An exceptional investment opportunity awaits in Union City with this well-maintained mixed-use property located at 1406-1408 New York Ave. This property offers a compelling combination of commercial income and two residential rental units, appealing to investors seeking a diversified income stream in a desirable location. The ground floor features an approximate 700 sq. ft. commercial space, perfect for various business uses, and includes a valuable commercial garage for added utility, storage, or operational needs. The property features two separate, modern residential rental units on the upper floors. The unit on the second floor is a spacious one-bedroom, one-bathroom apartment, while the third-floor unit is also a well-appointed one-bedroom, one-bathroom apartment. All units boast high-quality, modern amenities designed for tenant appeal and low maintenance. These features include granite countertops in all units, hardwood floors throughout the living areas and bedrooms, and tile flooring in the kitchens. For comfort and efficiency, the residential units are equipped with Central AC and Forced Air Heating and tankless hot water heaters, which provide energy savings and on-demand hot water. Tenant convenience is further enhanced by a shared washer/dryer facility. This property represents a turn-key asset, offering a fantastic chance to acquire a multi-functional building with strong rental potential from both commercial and residential tenants, making it an ideal addition to any investment portfolio.
Amenities
This listing is a courtesy of COLDWELL BANKER REALTY
201-212-5026 office, listing agent JILL K BIGGS
About Union City, NJ Real Estate Market
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 |
SINGLE FAMILY HOME SALES
Union City, NJ
PRICE INDEX
| Average Price* (12mo): | $449,512 |
| Apatments Sold* (12mo): | 141 |
APARTMENT SALES
Union City, NJ
REAL ESTATE TAXES
| General Tax Rate (2023): | 7.438% |
| Effective Tax Rate (2023): | 2.161% |
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MADISON ADAMSTM
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
| Homes : | $575,000 - 1,400,000 | 6 |
| Condos : | $190,000 - 1,400,000 | 60 |
| Co-ops : | $285,000 - 595,000 | 18 |
| Twnhs : | $899,000 - 899,000 | 1 |
| 2-4 Fam : | $627,000 - 1,250,000 | 17 |
| 5+ Fam : | $1,099,000 - 1,249,900 | 2 |
| Land : | $450,000 - 3,990,000 | 3 |
| Rentals : | $2,000 - 3,600 | 9 |
| Mixd Use : | $1,099,000 - 2,650,000 | 6 |
| Com S : | - | |
| Com L : | - | |
| Biz : | $50,000 - 500,000 | 5 |
