For Sale
  • For Sale
  • For Lease
  • Recently Sold
  • Property Lookup
  • Brokers
Back to Search

102 Summer St Passaic, NJ 07055

Loading data...
Loading data...
Loading data...
For Sale
$840,000

Three-unit automotive repair shop with value-add potential.

Property size:
7,400 SF

Property Features for 102 Summer St

General Information

Standard status
Active
Size
7,400 SF

Building Details

Year built
1920

Source: ARENA COMMERCIAL BROKERAGE LLC Agent GABRIEL SAJIUN

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Three-Unit Automotive Repair Shop

This is a three-unit automotive repair facility with 7,400 square feet of building space on a 14,050 square foot lot. Each of the three individual repair bays is equipped with its own private half bathroom, making the units self-contained. One unit, the largest, is located at 102 Summer Street and is rented for $3,400 per month. The other two units are located at 95 Burgess Street; the smaller unit is rented for $1,800 per month, and the larger side is rented for $2,700 per month. The total current monthly rent is $7,900. Two of the three leases have expired, presenting an immediate opportunity for lease renewal at market rates or replacement with new tenants. The third lease is set to expire on September 30, 2025. The property has an 8% cap rate based on current income and strong value-add potential by increasing below-market rents. It features a functional layout with individual restrooms and clear bay separation. This property is located in Passaic City, NJ, and offers both steady cash flow and upside potential through improved lease terms. It is an excellent opportunity for an owner-user or investor in a high-demand commercial sector.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Auto shops

Suggested Use

Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Gym & Fitness Food Market

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

Similar Places Nearby

Tow Truck New Jersey, Metro Petro Inc, Garfield Tire, R&Y Towing, Chris Lordi Auto Body Inc

Location Insight

  • Map
  • Local Demand
City
Passaic
County
Passaic
State
New Jersey
Longitude
-74.13313
Latitude
40.869423

FAQs

What type of property is this?
Auto shop - Three-unit automotive repair shop with value-add potential.
Where is this auto shop located?
The property is located at 102 Summer St Passaic, NJ.
What is the asking price?
The asking price for this property is $840,000.
What are key features of this property?
This property features: - High 8% Cap Rate based on current income.; - Strong value-add potential through increasing below-market rents.; - Three self-contained units, each with a private half bathroom.
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