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967 Stuyvesant Ave Union, NJ 07083

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For Sale
$2,400,000

Mixed-use property with residential and commercial income potential.

Lot size:
0.06 Acres

Property Features for 967 Stuyvesant Ave

General Information

Property type
Commercial
Standard status
Active
Lot size
0.06 Acres

Building Details

Year built
1953

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Listing Contact
J.c. Gonzalez
J.c. Gonzalez
Source: Elliman

Listing Agent: J.c. Gonzalez

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

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Overview

Mixed-Use Property: Income Potential

This mixed-use property presents an investment opportunity with both residential and commercial tenants. The building includes four 2-bedroom apartments, currently rented below market value at $4,900 per month. Market rents could potentially increase this to approximately $8,000 per month. The commercial component features a storefront rented for $2,500 per month, and a bar/restaurant leased at $4,500 per month under a 5-year lease, with an additional $2,000 per year collected for property taxes and separate utilities. A Verizon antenna lease generates $11,000 annually. The total current monthly income is approximately $12,816, with the potential to reach $19,500, translating to a Gross Operating Income (GOI) of $153,792 annually. Estimated expenses include taxes ($18,177-$25,177), insurance ($12,695), and water ($1,500 per year). The Net Operating Income (NOI) is currently estimated at $121,420.
Location Intelligence

Current Use by Public Records

Quadplexes

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

Location Insight

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City
Union
County
Union
State
New Jersey
Longitude
-74.2707211
Latitude
40.6954121

FAQs

What type of property is this?
Mixed-use property - Mixed-use property with residential and commercial income potential.
Where is this mixed-use property located?
The property is located at 967 Stuyvesant Ave Union, NJ.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: - High income potential: Current monthly income of approximately $12,816 with the ability to increase to approximately $19,500 at market rents.; - Mixed-use property with both residential and commercial tenants, offering diversified income streams.; - Existing commercial leases: Storefront, bar/restaurant (5-year lease plus property tax contribution), and Verizon antenna lease generating stable income.
More about this property
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