Commercial space For Sale in Union City, NJ
MLS# : 250002163
PROPERTY DETAILS
PROPERTY DESCRIPTION
**BEING SOLD AS PACKAGE DEAL WITH 1406 NEW YORK AVE, UNION, CITY, NJ ($500,000) - BOTH LOTS ASKING PRICE $1,500,000**Welcome to a prime investment opportunity in the heart of Union City! This mixed-use building at 1408 New York Ave is perfectly situated in a bustling neighborhood, making it an ideal location for business and residential living. Currently operating as a successful plumbing business, this property features a spacious commercial unit on the ground floor, complemented by two well-appointed apartment units above, providing a steady income stream.**Property Highlights:**- **Zoning:** C-N Neighborhood Commercial, allowing for a variety of business and residential uses.- **Commercial Space:** Generous retail/service area, perfect for continuing the current plumbing business or launching your own venture.- **Residential Units:** Two comfortable apartment units, unit 1 offering two bedrooms/ two bathrooms and unit 2 offering one bedroom/ one bathroom, offering additional rental income or owner-occupant potential.- **Package Sale:** This property must be sold as a package with 1406 New York Ave, creating a comprehensive investment opportunity. **Appraisal Value:** Both Lots Recently appraised at $1,720,000, offering significant value at the listing price of $1,500,000. Agent Remarks: **Appraisal Value:** Recently appraised at $1,720,000, offering significant value at the listing price of $1,500,000 for both lots.
Amenities
This listing is a courtesy of UNITED REAL ESTATE OF NORTH JERSEY
888-501-6953 office, listing agent LEONARDO TATIS
About Union City, NJ Real Estate Market
The Union City is situated atop the ridge of the lower Hudson Palisades. Due to a high elevation, the city offers clear views of surrounding municipalities like New Jersey Meadowlands and New York City Skyline. It shares its borders with other parts of Hudson County, such as Jersey City, Hoboken, Weehawken, North Bergen and West New York.
The formation of Union City as a city happened in 1925 by an act of the New Jersey Legislature. Union City was established by merging Union Hill and West Hoboken Township. The city’s name got derived from the names of these two municipalities. In its early stages, Union City was inhabited by German and Spanish speaking people.
Union City is divided into two parts by New Jersey Route 495, which resulted in the renaming of many street names in the city. Most of the homes for sale in this part of Hudson County are located on streets like 32nd Street, Hackensack Plank Road and Bergen Turnpike, which form Union City’s urban grid.
| Population: | 65,551 |
| Total Housing Units: | 22,411 |
| Single Family Homes: | 5,756 |
| Apartments: | 16,655 |
| General Tax Rate (2023): | 7.438% |
| Effective Tax Rate (2023): | 2.161% |
| Compare To Other Towns |
Union City Market Indicators
PRICE INDEX
| Average Price* (12mo): | $540,530 |
| Homes Sold* (12mo): | 11 |
SINGLE FAMILY HOME SALES
Union City, NJ
PRICE INDEX
| Average Price* (12mo): | $430,532 |
| Apatments Sold* (12mo): | 136 |
APARTMENT SALES
Union City, NJ
REAL ESTATE TAXES
| General Tax Rate (2023): | 7.438% |
| Effective Tax Rate (2023): | 2.161% |
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MADISON ADAMSTM
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
| Homes : | $489,000 - 998,000 | 5 |
| Condos : | $85,000 - 1,350,000 | 50 |
| Co-ops : | $248,000 - 579,000 | 13 |
| Twnhs : | $489,000 - 489,000 | 1 |
| 2-4 Fam : | $490,000 - 1,899,000 | 28 |
| 5+ Fam : | $949,000 - 1,999,000 | 7 |
| Land : | $549,000 - 999,000 | 2 |
| Rentals : | $1,700 - 4,190 | 12 |
| Mixd Use : | $825,000 - 2,650,000 | 13 |
| Com S : | - | |
| Com L : | - | |
| Biz : | $80,000 - 250,000 | 6 |
