Vacant Industrial Property
2404 Summit Union City, NJ 07087
2404 Summit, Union City, NJ, 07087
$745,000
For Sale
$745,000
Vacant industrial property suitable for various business uses.
Property Size3,500 SF
Price / SF$212.86
Days on Market487
Property Features for 2404 Summit
General Information
- Standard status
- Active
- Size
- 3,500 SF
- Property subtype
- Commercial
Listing Agency
RE/MAX SELECT - FORT LEE
(201) 886-8888
Listed by
ALICIA ESCANO · License #234618
Source
Corcoran
Added: Mar 20, 2025 Checked: Jul 17 at 4:02 am
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 - FORT LEE
Investment Insights
Based on property information with market context.
This vacant industrial property offers a concrete and solid warehouse space with 3,500 square feet. The first floor provides 2,600 square feet, while the second floor offers 700 square feet in an open concept, allowing for customized build-out. Originally proposed for a daycare, the property is also suitable for medical, dental, eyecare, attorneys, and retail businesses. The property benefits from high visibility, located across from Union City High School, with a NYC bus stop directly outside. It is situated just 5 minutes from the Lincoln Tunnel and major highways.
Key Highlights
- 3,500 sq.ft Industrial Property (2,600 sq.ft on 1st Floor, 700 sq.ft on 2nd Floor)
- High Visibility Location Across from Union City High School
- Ideal Space for Various Businesses: Daycare, Medical, Dental, Retail, Attorneys
Local Financial Insights For Office B
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 | $105.0k | $30.00 |
| − Vacancy | −$33.6k | −$9.60 |
| EGI | $71.4k | $20.40 |
| − OpEx | −$17.9k | −$5.10 |
| NOI | $53.6k | $15.30 |
3,500 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Warehouse
$1.27M
$1.11M – $1.48M
NOI $88,717 @ 7.0% cap · market cap 11.91%
Second Best
Industrial
$1.06M
$924.2K – $1.23M
NOI $73,937 @ 7.0% cap · market cap 9.92%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
Similar Off Market Nearby
- Space Hub Rental — 910 Grand Ave, North Bergen, NJ 07047
- Steady Handz — 3338 Park Ave, Weehawken, NJ 07086
- A Pensa Modern Movers — 1110 John F. Kennedy Blvd, Union City, NJ 07087
- Extra Space Storage — 2425 Tonnele Ave, North Bergen, NJ 07047
- Prime Storage — 3322 Hudson Ave, Union City, NJ 07087
FAQs
What type of property is this?
Warehouse - Vacant industrial property suitable for various business uses.
Where is this warehouse located?
The property is located at 2404 Summit Union City, NJ.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: 3,500 sq.ft Industrial Property (2,600 sq.ft on 1st Floor, 700 sq.ft on 2nd Floor); High Visibility Location Across from Union City High School; Ideal Space for Various Businesses: Daycare, Medical, Dental, Retail, Attorneys
