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Residential Over Two Ground-Floor Retail 2004-2006 Bergenline Ave 8 Apartment Units Online Auction Sale Union City, NJ 07087
Investment Highlights
- 2004-2006 Bergenline Avenue spans 10,200 square feet with fully occupied apartments and retail spaces delivered vacant with all FF&E included.
- Exceptional investment opportunity of two ground-floor retail storefronts and eight apartments offering a solid return on investment.
- Bergenline Avenue runs entirely through Union City, boasting retailers, dining spots, and entertainment venues along the commercial corridor.
- Heart of Union City in a high-traffic area with a very high walk score (95), near restaurants, dry cleaners, bakeries, and a pharmacy.
- Approximately a 5-minute drive to the NY Waterway Ferry, 20 minutes to New York City, 30 minutes to Manhattan, with easy access to major highways.
- Local economy is strongly supported by retail businesses and essential services, especially along Bergenline Avenue.
Executive Summary
As the exclusive advisor, Prominent Properties of Sotheby’s Realty proudly presents the twin mixed-use buildings with strong street presence and multiple income streams at 2004-2006 Bergenline Avenue in Union City, New Jersey.
This contiguous two-building investment property features eight one-bedroom, one-bathroom apartment units and two ground-floor retail storefronts, currently supporting local dry cleaning and home appliance retail operations. Both retail spaces will be delivered vacant as both retailers are retiring. The retail suites feature 12.5-foot ceilings and basements for extra storage. Historically, the landlord has paid taxes, and the tenants have paid their own utility bills for water, gas, and electricity. Immediate upside is available as this has been a long-established dry cleaner with a steady, strong customer base.
Bergenline Avenue is a heavily trafficked thoroughfare for cars and pedestrians. Visibility to more than 5,600 daily passing vehicles supports retail exposure. Access is easy, with ample street parking nearby. 2004-2006 Bergenline Avenue is near the Holland Tunnel and the George Washington Bridge; the NY Waterway Ferry is a 5-minute drive, Midtown is reachable in 6-8 minutes, and the Financial District is reachable in 10-15 minutes.
The North Hudson County Submarket is a dense area of the city, with more than 256,000 residents within a 2-mile radius. The average household income exceeds $121,100, and the local economy generates over $3.4 billion each year. 76% of households are renter-occupied, with 35% being one and two-bedroom unit configurations.
With potential rent increases and improvements, the cap rate could rise significantly higher, making this a compelling opportunity for investors.
This contiguous two-building investment property features eight one-bedroom, one-bathroom apartment units and two ground-floor retail storefronts, currently supporting local dry cleaning and home appliance retail operations. Both retail spaces will be delivered vacant as both retailers are retiring. The retail suites feature 12.5-foot ceilings and basements for extra storage. Historically, the landlord has paid taxes, and the tenants have paid their own utility bills for water, gas, and electricity. Immediate upside is available as this has been a long-established dry cleaner with a steady, strong customer base.
Bergenline Avenue is a heavily trafficked thoroughfare for cars and pedestrians. Visibility to more than 5,600 daily passing vehicles supports retail exposure. Access is easy, with ample street parking nearby. 2004-2006 Bergenline Avenue is near the Holland Tunnel and the George Washington Bridge; the NY Waterway Ferry is a 5-minute drive, Midtown is reachable in 6-8 minutes, and the Financial District is reachable in 10-15 minutes.
The North Hudson County Submarket is a dense area of the city, with more than 256,000 residents within a 2-mile radius. The average household income exceeds $121,100, and the local economy generates over $3.4 billion each year. 76% of households are renter-occupied, with 35% being one and two-bedroom unit configurations.
With potential rent increases and improvements, the cap rate could rise significantly higher, making this a compelling opportunity for investors.
Data Room Click Here to Access
- Purchase Agreement
Market Analytics Click Here to Access
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $3,050 | - |
Walk Score®
Walker's Paradise (97)
Transit Score®
Excellent Transit (87)
Sale Advisor
Sale Advisor
Henry Song, Vice President of Prominent Properties Commercial
Henry began his career on Wall Street, spending over a decade as an agency sales trader advising hedge funds, pension funds, and institutional clients. Transitioning to real estate, Henry served as Director of Sales at the Hudson Club at Port Imperial and later co-led Douglas Elliman’s New Jersey division before joining K. Hovnanian Homes. He was selected for the company’s elite leadership program and served as a project manager overseeing large-scale residential communities, including Nine on the Hudson in Port Imperial and Four Ponds at Lincroft.
Today, Henry specializes in commercial brokerage, leveraging his analytical expertise and development insight to advise investors, developers, asset holders, and business owners in all aspects of commercial real estate, with a focus on strategic growth, asset value, and long-term performance.
Today, Henry specializes in commercial brokerage, leveraging his analytical expertise and development insight to advise investors, developers, asset holders, and business owners in all aspects of commercial real estate, with a focus on strategic growth, asset value, and long-term performance.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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Auction Contact
Casey Harrell
Contact
Auctioneer License:
Ten-X Commercial, LLC Arlene Richardson RE Brkr 2187404
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Henry Song -
Prominent Properties Commercial
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Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
Contact the Sale Advisor
Residential Over Two Ground-Floor Retail | 2004-2006 Bergenline Ave
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Residential Over Two Ground-Floor Retail | 2004-2006 Bergenline Ave
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