5+ Mixed Use For Sale in Palisades Park, NJ
MLS# : 26010341
PROPERTY DETAILS
PROPERTY DESCRIPTION
We are pleased to offer this high-performing 14-unit multi-family building perfectly situated directly on Broad Ave in the heart of Palisades Park. Total of 14 units consisting of 12 spacious 1-Bedroom/1-Bath apartments and 2 Studio apartments. One unit is currently occupied by an on-site Building Superintendent, ensuring smooth day-to-day operations. Excellent Location: Unbeatable access to local shops, dining, and NYC public transportation, making this a highly sought-after location for tenants. Strong Cash Flow: This property offers stable income with high rental upside. Reason for Sale: First time on the market in yearsâ€â€the current owner is retiring, presenting a rare opportunity for a new investor. High Occupancy: Ideally located for easy leasing with historically low vacancy rates. 10 Parking spaces, Roof less than 5 years old, sewer line changed 5 years ago: cost $60,000, emergency lights replaced.
Amenities
This listing is a courtesy of Realty 7, LLC
201-292-7777 office, listing agent Byung Chung
About Palisades Park, NJ Real Estate Market
The foundation of Palisades Park as a modern borough got laid in 1899 under an act of the New Jersey Legislature. A few portions of Ridgefield Township got included for the formation of Palisades Park, which seeks inspiration from its location, which is at the top of New Jersey Palisades.
As said above, it is densely inhabited by Koreans, which form around 65 per cent of the total population of the borough. The borough is also known as ‘Little Korea’ and ‘Koreatown on the Hudson’ by the American natives. Even the central business district located around Broad Avenue is known as Koreatown due to the rich ethnicity of Koreans in the area. In 2015, a proposal for changing the name of Broad Avenue to ‘Korea Way’ was introduced by the Korean-American Association of Palisades Park to the mayor of the town. The influence of Korean culture is evident in this part of New Jersey real estate too.
| Population: | 19,622 |
| Total Housing Units: | 7,362 |
| Single Family Homes: | 3,547 |
| General Tax Rate (2025): | 1.463% |
| Effective Tax Rate (2025): | 1.393% |
| Compare To Other Towns |
Palisades Park Market Indicators
PRICE INDEX
| Average Price* (12mo): | $966,587 |
| Homes Sold* (12mo): | 11 |
SINGLE FAMILY HOME SALES
Palisades Park, NJ
REAL ESTATE TAXES
| General Tax Rate (2025): | 1.463% |
| Effective Tax Rate (2025): | 1.393% |
Search
MLS#
MLS#
MLS#
MLS#
MLS#
MADISON ADAMSTM
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
| Homes : | $538,000 - 729,000 | 2 |
| Condos : | $259,500 - 1,629,000 | 10 |
| Co-ops : | - | |
| Twnhs : | $835,000 - 1,400,000 | 3 |
| 2-4 Fam : | $859,000 - 2,800,000 | 8 |
| 5+ Fam : | $4,100,000 - 4,100,000 | 1 |
| Land : | $679,000 - 679,000 | 1 |
| Rentals : | $1,500 - 6,900 | 73 |
| Mixd Use : | $4,100,000 - 4,100,000 | 1 |
| Com S : | - | |
| Com L : | - | |
| Biz : | $2,000 - 700,000 | 19 |
