Triplex with Barber Shop and
New
For Sale
Contact for pricing
1012 New York Ave, Union City, NJ 07087
Triplex with two-bedroom and one-bedroom apartments plus a barber shop and full-service salon with separate utilities except water.
Property Size4,800 SF
Price / SF$291.67
Days on Market2
Property Features for 1012 New York Ave
General Information
Standard status
Active
Size
4,800 SF
Property subtype
RETAIL
Building Details
Tenancy
Multi
Listing Agency:
RE/MAX Select
(201) 400-5344
Listed By:
Patrick Varelas · License #1540486
(201) 400-5344
Source:
Moodyscre
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 30 at 10:29AM
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 RE/MAX Select
Investment Insights
Based on property information with market context.
This triplex offers a mixed-use setup with two 2-bedroom apartments and one 1-bedroom apartment, plus two income-producing retail spaces: a men’s barber shop and a full-service salon. The property is listed as well-maintained and includes an attached one-car garage. Utilities are separate except for water, supporting flexible day-to-day operations across the residential and commercial components.
The building totals approximately 4,800 SF and is located at 1012 New York Ave in Union City, NJ. The flat roof is described as 3 years young, which can be an important consideration for ongoing building maintenance.
Overall, the combination of residential units and established on-site commercial use is designed to support an owner-occupied or investor approach, with separate utility services helping streamline the property’s management.
The building totals approximately 4,800 SF and is located at 1012 New York Ave in Union City, NJ. The flat roof is described as 3 years young, which can be an important consideration for ongoing building maintenance.
Overall, the combination of residential units and established on-site commercial use is designed to support an owner-occupied or investor approach, with separate utility services helping streamline the property’s management.
Key Highlights
- Two 2‑bedroom apartments and one 1‑bedroom apartment
- Men’s barber shop plus full‑service salon on site
- Separate utilities except for water
Financial Insights For Multifamily LT 5
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 | $122.7k | $25.56 |
| − Vacancy | −$7.9k | −$1.65 |
| EGI | $114.8k | $23.91 |
| − OpEx | −$34.4k | −$7.17 |
| NOI | $80.3k | $16.74 |
4,800 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.00M – $1.34M
NOI $80,334 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$1.05M
$922.7K – $1.23M
NOI $73,814 @ 7.0% cap · market cap 5.27%
Theoretical Best
Warehouse
$1.74M
$1.52M – $2.03M
NOI $121,669 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,282
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex with two-bedroom and one-bedroom apartments plus a barber shop and full-service salon with separate utilities except water.
Where is this triplex located?
The property is located at 1012 New York Ave Union City, NJ.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Two 2‑bedroom apartments and one 1‑bedroom apartment; Men’s barber shop plus full‑service salon on site; Separate utilities except for water
