Union City Mixed-Use
For Sale
$899,000
Pending
1011 Summit Ave, Union City, NJ 07087
Established commercial property with natural gas service and a gas water heater.
Property Size4,700 SF
Days on Market259
Property Features for 1011 Summit Ave
General Information
Standard status
Pending
Size
4,700 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$17,300
Amenities
Natural Gas
Full, Partial
Gas Water Heater
Under/Over
Building Details
Year Built
1910
Listing Agency:
(201) 424-6493
Listed By:
RICHARD BRITO BENJAMIN
(201) 424-6493
Source:
Evrealestate
Added: Dec 15, 2025
Changed: Aug 29
Last Checked: Aug 30 at 3:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RICHARD BRITO BENJAMIN
Investment Insights
Based on property information with market context.
This mixed-use property at 1011 Summit Ave was built in 1910 and includes natural gas service along with a gas water heater. The property is located in Union City, Hudson County, New Jersey.
The site is near 10th St, just west of Kennedy Blvd, with GPS directions recommended for access. The recorded property size is 4,700.
The site is near 10th St, just west of Kennedy Blvd, with GPS directions recommended for access. The recorded property size is 4,700.
Key Highlights
- 4,700 recorded property size
- Built in 1910
- Natural gas service
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,550
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,551,000
$1.6M
Cap Rate 7%
$1,107,857
$1.1M
Cap Rate 9%
$861,667
$861.7K
Market Conditions
NOI Build-Up for 4,700 SF
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.
Gross rent
$141.0K $30.00/SF
− Vacancy
−$16.9K −$3.60/SF
EGI
$124.1K $26.40/SF
− OpEx
−$46.5K −$9.90/SF
NOI
$77.6K $16.50/SF
Area
Hudson County, NJ
Vacancy
12.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,551,000
Cap Rate 7%
$1,107,857
Cap Rate 9%
$861,667
Alternative Uses
Best Use
Mixed Use
$1.11M
$969.4K – $1.29M
NOI $77,550 @ 7.0% cap · market cap 8.63%
Second Best
Apartment 5plus
$1.03M
$903.5K – $1.20M
NOI $72,277 @ 7.0% cap · market cap 8.04%
Theoretical Best
Warehouse
$1.70M
$1.49M – $1.99M
NOI $119,134 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,960
Businesses Nearby
167k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Groceries 37%
Shops & Services 23%
Hotels & Casinos 3%
Food Bazaar Supermarket
Groceries
50,785 visits/mo
0.3 miles
Wendy's
Dining
24,575 visits/mo
0.5 miles
McDonald's
Dining
19,026 visits/mo
0.3 miles
KFC
Dining
12,034 visits/mo
0.2 miles
Fine Fare
Groceries
10,861 visits/mo
0.4 miles
Demographics for 07087, NJ
68,611
Population
27,442
Households
2.5
Avg Household Size
36
Median Age
28%
College-Educated
77%
High-School Grad
1.3 sq mi
ZIP Area
52,778
Density / Sq Mi
$65,369
Median Household Income
$35,041
Median Earnings
$1,489
Median Rent
$446,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Established commercial property with natural gas service and a gas water heater.
Where is this mixed-use property located?
The property is located at 1011 Summit Ave Union City, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 4,700 recorded property size; Built in 1910; Natural gas service
