Gas Station with Service
For Sale
$1,199,000
93 Union #01, Paterson, NJ 07502
A separate workshop entrance serves a three-bay shop with vehicle lifts and alignment equipment.
Property Size5,100 SF
Price / SF$235.10
Days on Market684
Property Features for 93 Union #01
General Information
Standard status
Active
Size
5,100 SF
Total Parking Spaces
8
Property subtype
Commercial
Zoning
business
Additional Details
Business Included
Yes
Service Bays
3
Building Details
Building Size
5,100 SF
Year Built
1950
Stories
1
Units
1
Listing Agency:
Wayne Hills Realty
Listed By:
Joseph Mastropole · License #274283
(973) 907-0227
Source:
Cammarotarealestate
Added: Dec 8, 2024
Changed: Oct 22
Last Checked: Oct 22 at 2:19PM
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 Wayne Hills Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 5,100-square-foot gas station and workshop property was built in 1950 and is zoned business. The station has a separate entrance and Wayne pumps equipped with EMV and Ruby2 systems. Fuel storage includes two 8K tanks and another 8K tank divided into 6K and 2K compartments, with the 2K compartment used for diesel.
The workshop contains three bays, two four-post Rotary lifts—including an alignment lift—and one two-post lift. A John Bean alignment machine is installed, and a waste-oil heater provides shop heat. Four above-ground tanks are designated for waste oil and new engine oil. The property also has a workshop reception area and manager’s office; listed equipment includes tire machines.
The workshop contains three bays, two four-post Rotary lifts—including an alignment lift—and one two-post lift. A John Bean alignment machine is installed, and a waste-oil heater provides shop heat. Four above-ground tanks are designated for waste oil and new engine oil. The property also has a workshop reception area and manager’s office; listed equipment includes tire machines.
Key Highlights
- 5,100‑square‑foot property built in 1950; business zoning
- Wayne fuel pumps with EMV and Ruby2 systems
- Fuel storage: two 8K tanks plus an 8K tank split into 6K and 2K compartments; 2K used for diesel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,993
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
3
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
838
Businesses Nearby
31k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 44%
QuickChek
Shops & Services
17,309 visits/mo
0.4 miles
Dunkin' Donuts
Dining
12,218 visits/mo
0.2 miles
Playa Bowls
Dining
1,487 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
Frequently Asked Questions
What type of property is this?
Gas station - A separate workshop entrance serves a three-bay shop with vehicle lifts and alignment equipment.
Where is this gas station located?
The property is located at 93 Union #01 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: 5,100‑square‑foot property built in 1950; business zoning; Wayne fuel pumps with EMV and Ruby2 systems; Fuel storage: two 8K tanks plus an 8K tank split into 6K and 2K compartments; 2K used for diesel
