Corner Mixed-Use
For Sale
$2,300,000
2531 John F Kennedy Blvd, North Bergen, NJ 07047
Mixed-use building with 11 apartments and two retail suites, with separate utilities and partial tenant-paid electric heat.
Property Size10,049 SF
Price / SF$230
Days on Market42
Property Features for 2531 John F Kennedy Blvd
General Information
Standard status
Active
Size
10,049 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
11
Taxes and HOA fees
Annual Taxes
$26,808
Building Details
Building Size
10,049 SF
Year Built
1915
Units
13
Tenancy
Multi
Listing Agency:
IMPERIAL REAL ESTATE AGENCY
(732) 905-5511
Listed By:
Michael Brooke
(732) 905-5511
Source:
Elliman
Added: Jul 10
Changed: Aug 13
Last Checked: Aug 19 at 9:16AM
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 IMPERIAL REAL ESTATE AGENCY
Investment Insights
Based on property information with market context.
This corner mixed-use building includes 11 apartments and two retail suites totaling approximately 10,000 SF. The property has separate gas/electric metering and partial utility separation, with select tenant-paid electric heat. The current rent level is described as significantly below market, creating potential for income growth. The offering also notes potential on-site parking for added convenience.
The building is situated at John F. Kennedy Blvd and 26th St, with commuter access just off Route 495 and immediate Lincoln Tunnel access. WalkScore is 97 and transitScore is 91, with a bikeScore of 47, indicating a transit-oriented, walkable setting.
Buyers should verify all information during their due diligence.
The building is situated at John F. Kennedy Blvd and 26th St, with commuter access just off Route 495 and immediate Lincoln Tunnel access. WalkScore is 97 and transitScore is 91, with a bikeScore of 47, indicating a transit-oriented, walkable setting.
Buyers should verify all information during their due diligence.
Key Highlights
- Mixed‑use corner property at Kennedy Blvd & 26th St with 11 apartments and 2 retail suites totaling approx. 10,000 SF
- Separate gas/electric metering with partial utility separation and select tenant‑paid electric heat
- Commuter location just off Route 495 with immediate Lincoln Tunnel access
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
$165,000
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
7.17%
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%
$3,300,000
$3.3M
Cap Rate 7%
$2,357,143
$2.4M
Cap Rate 9%
$1,833,333
$1.8M
Market Conditions
NOI Build-Up for 10,000 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
$300.0K $30.00/SF
− Vacancy
−$36.0K −$3.60/SF
EGI
$264.0K $26.40/SF
− OpEx
−$99.0K −$9.90/SF
NOI
$165.0K $16.50/SF
Area
Hudson County, NJ
Vacancy
12.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,300,000
Cap Rate 7%
$2,357,143
Cap Rate 9%
$1,833,333
Alternative Uses
Best Use
Mixed Use
$2.36M
$2.06M – $2.75M
NOI $165,000 @ 7.0% cap · market cap 7.17%
Second Best
Apartment 5plus
$2.20M
$1.92M – $2.56M
NOI $153,780 @ 7.0% cap · market cap 6.69%
Theoretical Best
Warehouse
$3.62M
$3.17M – $4.22M
NOI $253,477 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
11
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,082
Businesses Nearby
Explore this area
Business Placement
Demographics for 07047, NJ
63,361
Population
25,024
Households
2.5
Avg Household Size
39
Median Age
32%
College-Educated
83%
High-School Grad
5.1 sq mi
ZIP Area
12,424
Density / Sq Mi
$75,505
Median Household Income
$43,150
Median Earnings
$1,702
Median Rent
$466,800
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?
Mixed-use property - Mixed-use building with 11 apartments and two retail suites, with separate utilities and partial tenant-paid electric heat.
Where is this mixed-use property located?
The property is located at 2531 John F Kennedy Blvd North Bergen, NJ.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Mixed‑use corner property at Kennedy Blvd & 26th St with 11 apartments and 2 retail suites totaling approx. 10,000 SF; Separate gas/electric metering with partial utility separation and select tenant‑paid electric heat; Commuter location just off Route 495 with immediate Lincoln Tunnel access
