1308 Summit Avenue, Union City, NJ 07087
Mixed-use property featuring a retail space and a 2-bedroom apartment.
- Added:
- Jun 10, 2025
- Days on Market:
- 382
- Last Refresh:
- May 11 at 1:49 am
Property Features for 1308 Summit Avenue
General Information
- Standard status
- Active
- Size
- 2,800 SF
- Lot size
- 0.05 Acres
- Property subtype
- Commercial
Listing office AMERICAN HOMES GROUP (732) 289-3900
Listing date Jun 10, 2025
Source Corcoran
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 AMERICAN HOMES GROUP
HighLights
- Mixed‑use property featuring a 2‑bedroom apartment and retail space.
- Income potential from existing month‑to‑month tenants.
- Flexible occupancy: can be delivered vacant.
- Functional retail storefront with excellent street visibility and access.
- Private backyard, a rare amenity.
- Spacious basement offering ample storage or development potential.
Overview
Local Financial Insights For Mixed Use
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 | $84.0k | $30.00 |
| − Vacancy | −$10.1k | −$3.60 |
| EGI | $73.9k | $26.40 |
| − OpEx | −$27.7k | −$9.90 |
| NOI | $46.2k | $16.50 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Union City
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.0409
- Latitude
- 40.7622
