500-502 Kearny Ave
Kearny, NJ 07032
Retail Property For Sale
Property Facts
Amenities
- Bus Line
- Signage
About 500-502 KEARNY AVE , KEARNY, NJ 07032
Investment opportunity in the heart of Kearny. 4 residential units and 2 stores, Separate utilities. Units consist of: Studio $1,000, 2-1 bedroom units: $1,150 each, 2 bedroom: $1,300, stores leased at $1,100 (#502 lease exp march 2020 w/1 year option to renew) & $1,200 (#500 lease exp April 2020 w/1 year option to renew). Gross income $6,900 monthly, $82,800 Yearly. Approx Yearly Expenses: $20,733 per year includes: Taxes $13,233, Water $1,500, Common area electric & hot water, $1,400, Insurance: $4,000 Snow: $600, Heat is separate and paid by Tenants. At current price $750,000 approx 8.2% Cap Rate! NYC, Hackensack & Newark Bus just a few steps away. Building has unfinished basement. 6 separate Gas hot water baseboard heating systems, 7 gas and 7 electric meters. State inspected 2018.
Property Taxes
| Parcel Number | 07-00206-0000-00007 | Improvements Assessment | $93,000 |
| Land Assessment | $32,300 | Total Assessment | $125,300 |
Property Taxes
