Flex Space with Drive-In
For Sale
Contact for pricing
117-119 36th St, Union City, NJ 07087
Flex space with a unique drive-in front loading dock and easy access to US Route 1/9 and the New Jersey Turnpike.
Property Size15,000 SF
Price / SF$130
Days on Market1189
Property Features for 117-119 36th St
General Information
Standard status
Active
Size
15,000 SF
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Drive-In Doors
1
Listing Agency:
RIPCO Real Estate - New Jersey
(201) 777-2300
Listed By:
Clare Golz
(201) 636-7104
Source:
Moodyscre
Added: Jun 14, 2023
Changed: Aug 14
Last Checked: Sep 13 at 4:03AM
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 RIPCO Real Estate - New Jersey
Investment Insights
Based on property information with market context.
This flex space offering includes a unique drive-in front loading dock designed to support efficient loading and receiving operations. A tenant improvement allowance is available from the landlord for a qualified tenant with acceptable terms.
The property is positioned for convenient regional connectivity, with easy access to US Route 1/9, the New Jersey Turnpike, and other New Jersey highways. The building/site area is listed at 15,000 square feet, providing workable scale for warehouse, light industrial, or office use depending on tenant requirements.
Overall, the combination of loading functionality and access makes this an option to evaluate for users seeking flexible space that can accommodate warehouse, light industrial, or office operations.
The property is positioned for convenient regional connectivity, with easy access to US Route 1/9, the New Jersey Turnpike, and other New Jersey highways. The building/site area is listed at 15,000 square feet, providing workable scale for warehouse, light industrial, or office use depending on tenant requirements.
Overall, the combination of loading functionality and access makes this an option to evaluate for users seeking flexible space that can accommodate warehouse, light industrial, or office operations.
Key Highlights
- 15,000 SF flex space
- Unique drive‑in front loading dock
- Landlord tenant improvement allowance for qualified tenants
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
$125,244
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
6.42%
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%
$2,504,880
$2.5M
Cap Rate 7%
$1,789,200
$1.8M
Cap Rate 9%
$1,391,600
$1.4M
Market Conditions
NOI Build-Up for 15,000 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
$205.2K $13.68/SF
− Vacancy
−$12.5K −$0.83/SF
EGI
$192.7K $12.85/SF
− OpEx
−$67.4K −$4.50/SF
NOI
$125.2K $8.35/SF
Area
Hudson County, NJ
Vacancy
6.10%
Lease Rate
$13.68 /SF/Yr
Expense Ratio
35.00%
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%
$2,504,880
Cap Rate 7%
$1,789,200
Cap Rate 9%
$1,391,600
Alternative Uses
Best Use
Industrial
$4.53M
$3.96M – $5.28M
NOI $316,875 @ 7.0% cap · market cap 16.25%
Second Best
Flex RnD
$1.79M
$1.57M – $2.09M
NOI $125,244 @ 7.0% cap · market cap 6.42%
Theoretical Best
Warehouse
$5.43M
$4.75M – $6.34M
NOI $380,216 @ 7.0% cap · market cap 19.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,112
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space with a unique drive-in front loading dock and easy access to US Route 1/9 and the New Jersey Turnpike.
Where is this flex space located?
The property is located at 117-119 36th St Union City, NJ.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 15,000 SF flex space; Unique drive‑in front loading dock; Landlord tenant improvement allowance for qualified tenants
