Triplex with Barber Shop and
For Sale
Contact for pricing
1012 New York Ave, Union City, NJ 07087
Triplex with two-bedroom and one-bedroom apartments plus a barber shop and full-service salon with separate utilities except water.
Property Size4,800 SF
Price / SF$291.67
Days on Market25
Property Features for 1012 New York Ave
General Information
Standard status
Active
Size
4,800 SF
Property subtype
RETAIL
Building Details
Tenancy
Multi
Listing Agency:
RE/MAX Select
(201) 400-5344
Listed By:
Patrick Varelas · License #1540486
(201) 400-5344
Source:
Moodyscre
Added: Jul 29
Changed: Jul 30
Last Checked: Aug 21 at 3:06PM
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
Investment Insights
Based on property information with market context.
This triplex offers a mixed-use setup with two 2-bedroom apartments and one 1-bedroom apartment, plus two income-producing retail spaces: a men’s barber shop and a full-service salon. The property is listed as well-maintained and includes an attached one-car garage. Utilities are separate except for water, supporting flexible day-to-day operations across the residential and commercial components.
The building totals approximately 4,800 SF and is located at 1012 New York Ave in Union City, NJ. The flat roof is described as 3 years young, which can be an important consideration for ongoing building maintenance.
Overall, the combination of residential units and established on-site commercial use is designed to support an owner-occupied or investor approach, with separate utility services helping streamline the property’s management.
The building totals approximately 4,800 SF and is located at 1012 New York Ave in Union City, NJ. The flat roof is described as 3 years young, which can be an important consideration for ongoing building maintenance.
Overall, the combination of residential units and established on-site commercial use is designed to support an owner-occupied or investor approach, with separate utility services helping streamline the property’s management.
Key Highlights
- Two 2‑bedroom apartments and one 1‑bedroom apartment
- Men’s barber shop plus full‑service salon on site
- Separate utilities except for water
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
$80,334
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
5.74%
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%
$1,606,680
$1.6M
Cap Rate 7%
$1,147,629
$1.1M
Cap Rate 9%
$892,600
$892.6K
Market Conditions
NOI Build-Up for 4,800 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
$122.7K $25.56/SF
− Vacancy
−$7.9K −$1.65/SF
EGI
$114.8K $23.91/SF
− OpEx
−$34.4K −$7.17/SF
NOI
$80.3K $16.74/SF
Area
Hudson County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
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%
$1,606,680
Cap Rate 7%
$1,147,629
Cap Rate 9%
$892,600
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.00M – $1.34M
NOI $80,334 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$1.05M
$922.7K – $1.23M
NOI $73,814 @ 7.0% cap · market cap 5.27%
Theoretical Best
Warehouse
$1.74M
$1.52M – $2.03M
NOI $121,669 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,384
Businesses Nearby
Explore this area
Business Placement
Demographics for 07087, NJ
68,611
Population
27,442
Households
2.5
Avg Household Size
36
Median Age
28%
College-Educated
77%
High-School Grad
1.3 sq mi
ZIP Area
52,778
Density / Sq Mi
$65,369
Median Household Income
$35,041
Median Earnings
$1,489
Median Rent
$446,800
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?
Triplex - Triplex with two-bedroom and one-bedroom apartments plus a barber shop and full-service salon with separate utilities except water.
Where is this triplex located?
The property is located at 1012 New York Ave Union City, NJ.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Two 2‑bedroom apartments and one 1‑bedroom apartment; Men’s barber shop plus full‑service salon on site; Separate utilities except for water
