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- LoopNet Team
415-417 38th St
Union City, NJ 07087
Central Hotel · Hospitality Property For Sale
·
54 Rooms
INVESTMENT HIGHLIGHTS
- 2 miles 20 minutes by bus or shuttle to/from midtown Manhattan west - just outside the Lincoln Tunnel
- 400 restaurants within a 15 minute walk
- 5 miles 15 minute drive to/from the American Dream Megamall and the Meadowlands Sports Center
PROPERTY FACTS
| Property Type | Hospitality | No. Rooms | 54 |
| Property Subtype | Hotel | No. Stories | 3 |
| Building Class | C | Year Built/Renovated | 1902/2014 |
| Lot Size | 0.17 AC | Parking Ratio | 15.38/1,000 SF |
| Building Size | 14,000 SF | Corridor | Interior |
| Zoning | C - Commercial with Hotel License | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 14,000 SF |
| No. Rooms | 54 |
| No. Stories | 3 |
| Year Built/Renovated | 1902/2014 |
| Parking Ratio | 15.38/1,000 SF |
| Corridor | Interior |
| Zoning | C - Commercial with Hotel License |
AMENITIES
- High Speed Internet Access
- Public Access Wifi
- Smoke-Free
ABOUT 415-417 38TH ST , UNION CITY, NJ 07087
54 key hotel or hostel 2 miles from Manhattan! 415-417 38th Street (the “Hotel”) is in a pedestrian-friendly downtown location, around the corner from the bus to Manhattan and the Miracle Mile, northern New Jersey’s largest shopping district. The New Jersey Light Rail is only a 12 minute walk, grocery stores, gift shops, and over 400 restaurants are all within an easy walk of the Hotel. The entrance to the Lincoln tunnel is only a few blocks away. The newly opened American Dream Megamall and Meadowlands Sports Complex are only 15 minutes by car. At more than 50,000 people per square mile, the Hotel is located in a more densely populated area than either Brooklyn or Queens. As the only Hotel in downtown Union City, it is uniquely positioned to serve travelers visiting friends and family locally and travelers without a car. The Hotel building is a three-story walk-up; 44 keys have in suite bathrooms. 10 keys share three common baths. This Hotel is ADA compliant, fully wet sprinklered with standpipe and fire-alarms. There is no on-site parking; however, there are 4 municipal parking lots within a one minute walk with parking for over 400 cars. The Hotel is located in an urban enterprise zone; furniture, furnishing and supply purchases pay zero sales tax. Hotel customers pay lower sales taxes. Employee costs for some workers are subsidized; unemployment insurance costs are lower, and there are tax credits available. Two small retail stores, and bar/lounge/club space are possible. Currently tenant occupied, the property will be delivered vacant.
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 54 | $135.00 | - |
PROPERTY TAXES
| Parcel Number | 10-00220-0000-00019 | Improvements Assessment | $3,420,000 |
| Land Assessment | $1,080,000 | Total Assessment | $4,500,000 |
PROPERTY TAXES
