Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Union City Multifamily Investment Opportunity Title is generated by Realmo AI

    208 38TH ST, Union City, NJ 07087

    View on Map
    Claim this Listing
    For Sale
    $800,000

    Investment - Union City, NJ

    Property size:
    3,900 SF
    Price / SF:
    $205/SF
    Added:
    Mar 27, 2026
    Days on Market:
    71
    Last Refresh:
    Jun 5 at 3:06 pm

    Property Features for 208 38TH ST

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    3,900 SF

    Taxes and HOA fees

    Tax Annual Amount
    15586

    Building Details

    Floors in Building
    3
    Number of units
    6
    Architectural style
    Other

    We can help!

    Listing Contact
    EVERTH MARADIAGA

    Listing agent EVERTH MARADIAGA License #0231805

    Listing office E REALTY 5810 BERGENLINE AVE, LITTLE FERRY, NJ

    Listing date Mar 27, 2026

    MLS# 260005414 Listing URL

    Copyright © 2026 Realty MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location in the heart of Union City, walking distance to Bergenline Ave, shops, cafes, banks, schools, houses of worship, local and NYC transportation.
    • Investment property with 6 units, offering income potential.
    • One unit delivered vacant, providing immediate occupancy or rental opportunity.
    • Separate gas and electrical meters for each unit.
    • Large, full, unfinished basement with egress to a large backyard.
    • Close proximity to Weehawken, Hoboken, and Edgewater fine dining and shopping.

    Overview

    This multifamily property features six units in Union City, New Jersey. Each apartment offers approximately 650 square feet of living space, with a layout comprising two bedrooms, a living room, a kitchen, and one bathroom. The total building area is 3,900 square feet. A large, full unfinished basement includes an egress to the large backyard. The property has separate gas and electrical meters and a security system. The landlord is responsible for heat, water, and sewer expenses. One unit will be delivered vacant, while the remaining five are currently rented. The property is being sold in its current condition. All actual rents are registered with the rent leveling board. The property is located within walking distance of Bergenline Avenue, providing access to shops, cafes, banks, schools, and houses of worship. Local and New York City transportation options are readily available. The property is near Weehawken, Hoboken, and Edgewater, with their fine dining and shopping options.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $117.0k $30.00
    − Vacancy −$8.0k −$2.04
    EGI $109.0k $27.96
    − OpEx −$49.1k −$12.58
    NOI $60.0k $15.38
    3,900 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $856.8K
    $749.7K – $999.6K (±1% cap)
    NOI $59,974 @ 7.0% cap · market cap 7.50%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Warehouse
    $1.41M
    $1.24M – $1.65M (±1% cap)
    NOI $98,856 @ 7.0% cap · market cap 12.36%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Union City
    County
    Hudson
    State
    New Jersey
    Longitude
    -74.0239107
    Latitude
    40.7739844

    Nearby Similar for Sale

    • $750,000

      Union City Commercial Building For Sale

      Versatile commercial building in Union City, minutes from NYC.
      510 43RD ST, Union City, NJ 07087
      View Details
    • $2,200,000

      Union City Commercial Office Building

      Seven-unit commercial building in Union City with parking.
      4407-11 PARK AVE, Union City, NJ 07087
      View Details
    • $1,199,000
      2,756 SF

      Union City Two-Family Home

      Well-maintained two-family home with modern amenities and NYC access.
      714 17TH ST, Union City, NJ 07087
      View Details
    • $799,000

      Union City Two-Family Home

      Well-maintained two-family home in Union City near transportation.
      1612 WEST ST, Union City, NJ 07087
      View Details
    • $875,000

      Union City Multifamily Investment Property

      Well-maintained 7-unit building in Union City, offering stable income.
      514 11TH ST, Union City, NJ 07087
      View Details
    • $1,188,880

      Union City Mixed-Use Opportunity

      Mixed-use property with cafe and apartments in Union City.
      201 16Th St, Union City, NJ 07087-7001
      View Details
    • $899,000

      Union City Investment Opportunity

      Four-family property with bonus studio in prime location.
      509 MONASTERY PL, Union City, NJ 07087
      View Details
    • $849,000

      Union City Multi-Family Home

      Well-maintained 3-family home in Union City, near Bergenline Ave.
      514 42Nd St, Union City, NJ 07087-7909
      View Details
    • $1,198,888

      Union City Mixed-Use Investment

      Mixed-use property on Bergenline Avenue with commercial and residential units.
      2025 BERGENLINE AVE, Union City, NJ 07087
      View Details
    • $700,000

      Two-Family Residential Income Home

      Spacious two-family home with hardwood floors and a private backyard, well suited for owner-occupants or rental investors.
      1807 MANHATTAN AVE, Union City, NJ 07087
      View Details
    • $2,200,000

      Union City Industrial Warehouse

      Industrial warehouse in Union City, NJ, ideal for various operations.
      109-11 45TH ST, Union City, NJ 07087
      View Details
    • $1,249,900

      Union City Mixed-Use Investment

      Mixed-use building with residential and commercial units in Union City.
      1716 BERGENLINE AVE, Union City, NJ 07087
      View Details

    FAQs

    What type of property is this?
    Apartment building - Six-unit multifamily property in Union City, near Bergenline Avenue.
    Where is this apartment building located?
    The property is located at 208 38TH ST Union City, NJ.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: Prime location in the heart of Union City, walking distance to Bergenline Ave, shops, cafes, banks, schools, houses of worship, local and NYC transportation.; Investment property with 6 units, offering income potential.; One unit delivered vacant, providing immediate occupancy or rental opportunity.
    (201) 453-3510
    We can help!
    Listing Contact
    EVERTH MARADIAGA
    Real Estate License ID: 0231805
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    208 38TH ST, Union City, NJ 07087
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!