Gas Station and Auto
For Sale
$1,199,000
93 Union, Paterson, NJ 07502
Gas station and auto shop with recent upgrades for sale.
Property Size5,100 SF
Lot Size0.13 Acres
Days on Market153
Property Features for 93 Union
General Information
Standard status
Active
Size
5,100 SF
Lot size
0.13 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,053
Building Details
Building Size
5,100 SF
Year Built
1950
Stories
1
Units
1
Listing Agency:
Listed By:
JOSEPH MASTROPOLE
Source:
Elliman
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 10 at 5:49AM
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 JOSEPH MASTROPOLE
Investment Insights
Based on property information with market context.
The property features a gas station with recently installed Wayne pumps equipped with EMV and a Ruby2 system. There are two 8,000-gallon tanks, with one split into 6,000-gallon and 2,000-gallon compartments, the latter used for diesel. The gas station has a separate entrance. The workshop includes three bays, two 4-post Rotary lifts (one for alignment), and one 2-post lift. A John Bean alignment machine is installed. Heating for the workshop is provided by a waste oil heater. Four above-ground tanks are installed for storing waste oil and new engine oil. All items, including tire machines, are included in the sale. If rented, the workshop could potentially generate $5,500 in rent. There is a separate reception area for the workshop and a manager's office. The property is located in Paterson, NJ.
Key Highlights
- Operating gas station with recently installed Wayne pumps, EMV, and Ruby2 system.
- Workshop with 3 bays, including two 4‑post Rotary lifts (one alignment lift) and one 2‑post lift.
- Includes John Bean alignment machine and tire machines.
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
$77,993
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
6.50%
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%
$1,559,860
$1.6M
Cap Rate 7%
$1,114,186
$1.1M
Cap Rate 9%
$866,589
$866.6K
Market Conditions
NOI Build-Up for 5,100 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
$110.2K $21.60/SF
− Vacancy
−$6.2K −$1.21/SF
EGI
$104.0K $20.39/SF
− OpEx
−$26.0K −$5.10/SF
NOI
$78.0K $15.29/SF
Area
Paterson, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,559,860
Cap Rate 7%
$1,114,186
Cap Rate 9%
$866,589
Alternative Uses
Best Use
Specialty Retail
$1.11M
$974.9K – $1.30M
NOI $77,993 @ 7.0% cap · market cap 6.50%
Second Best
Retail
$1.04M
$909.9K – $1.21M
NOI $72,794 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$1.33M
$1.17M – $1.55M
NOI $93,220 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,364
Businesses Nearby
161k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Shops & Services 23%
Groceries 7%
Apparel 6%
Wendy's
Dining
26,654 visits/mo
0.3 miles
Dollar Tree
Shops & Services
17,775 visits/mo
0.2 miles
Checkers
Dining
13,508 visits/mo
0.5 miles
Burger King
Dining
12,988 visits/mo
0.3 miles
Golden Mango
Groceries
11,388 visits/mo
0.4 miles
Demographics for 07502, NJ
16,592
Population
4,861
Households
3.4
Avg Household Size
35
Median Age
17%
College-Educated
78%
High-School Grad
0.9 sq mi
ZIP Area
18,436
Density / Sq Mi
$68,649
Median Household Income
$32,407
Median Earnings
$1,492
Median Rent
$347,200
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?
Gas station - Gas station and auto shop with recent upgrades for sale.
Where is this gas station located?
The property is located at 93 Union Paterson, NJ.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Operating gas station with recently installed Wayne pumps, EMV, and Ruby2 system.; Workshop with 3 bays, including **two 4‑post Rotary lifts (one alignment lift) and one 2‑post lift.**; Includes **John Bean alignment machine and tire machines.**
