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514 Monastery Pl 2,460 SF Office Building Union City, NJ 07087 $899,000 ($365.45/SF) 6.42% Cap Rate
INVESTMENT HIGHLIGHTS
- Mixed Use Building for Sale
- 4 units - 1 commercial 3 residential
- Turn-Key Recording Studio
- Great location close to NYC transportation and NJ highways
EXECUTIVE SUMMARY
Mixed use investment property for sale including three residential apartments and one commercial space. The commercial space is built-out as a commercial recording studio and is currently in operation on a month to month lease. The recording studio business is also available for sale along with all the equipment. The three spacious apartments are all occupied and also on month to month leases. The two story building has over 4,000 sq ft of usable space across two floors. Located a few short blocks away from the Weehawken & Union City Reservoir Park and NYC bus routes. A plethora of restaurants and shopping around the corner of Bergenline Ave, plus just a short ride down to Hoboken.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Office/Residential
Building Size
2,460 SF
Building Class
C
Year Built
1893
Price
$899,000
Price Per SF
$365.45
Cap Rate
6.42%
NOI
$57,736
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
2,460 SF
Building FAR
0.93
Lot Size
0.06 AC
Zoning
R2 - Residential
1 1
Walk Score®
Walker's Paradise (97)
Transit Score®
Excellent Transit (84)
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514 Monastery Pl
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