1910-1912 Bergenline Ave
Union City, NJ 07087
Retail Property For Sale

This offering consists of the sale of two legal block/lots in a prime location with Parking which is unheard of in this area. 1910-1912 Bergenline is a 3 Story mixed use building situated on a 5,000 SF Lot. The building contains 6 apartments and 3500 SF of Retail Space that is currently vacant. This space can either be rented as one or two units with the average commercial rent in the area being $25 PSF. As of 3/28/19 there was only 1 other vacant commercial unit on Bergenline Ave. within 8 blocks of this property. The apartment layout is 5 (2 Bdr.) and 1 (3 Bdr./2 Bath) units which are fully occupied with long term tenants and an average rent of $1,105 per month. All tenants are due for a rental increases. Union City rent control allows for an annual increase equal to the CPI index which is approximately 1.8%. The owner provides heat for the tenants and the tenants pay for their own cooking gas, electric and hot water. There is only 1 other building in this area that has parking. 415 Monestary Place is a 4,000 SF Parking Lot Located directly behind 1910-12 Bergenline Ave. The lot contains 15 spaces and each space is rented for $200.00 per month.