Retail Space for Office or
319 38TH ST, Union City, NJ 07087
For Sale
Contact for pricing
Suitable for office, salon, or spa use, subject to town approval.
Property Size1,000 SF
Price / SF$2.50
Days on Market158
Property Features for 319 38TH ST
General Information
Standard status
Size
Property subtype
Building Details
Building Size
Listing Agency:
HP PROPERTIES
Listed By:
JUNIO FERMIN · License #9910976
(201) 751-5111
Source:
Propertiesbysouthern
Added: Jun 5
Changed: Nov 7
Last Checked: Nov 8 at 11:48AM
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 HP PROPERTIES
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,000-square-foot retail space is located at 319 38th Street in Union City, New Jersey. The layout is identified as suitable for office, salon, or spa operations, with town approval required for the intended use.
Heat and hot water are provided through PSE&G and paid by the tenant. The property’s urban Union City address places the space on 38th Street within an established commercial setting.
Heat and hot water are provided through PSE&G and paid by the tenant. The property’s urban Union City address places the space on 38th Street within an established commercial setting.
Key Highlights
- 1,000 SF retail space
- Potential office, salon, or spa use, subject to town approval
- Tenant pays heat and hot water through PSE&G
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,273
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,460
$285.5K
Cap Rate 7%
$203,900
$203.9K
Cap Rate 9%
$158,589
$158.6K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$21.6K $21.60/SF
− Vacancy
−$1.2K −$1.21/SF
EGI
$20.4K $20.39/SF
− OpEx
−$6.1K −$6.12/SF
NOI
$14.3K $14.27/SF
Area
Hudson County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,460
Cap Rate 7%
$203,900
Cap Rate 9%
$158,589
Alternative Uses
Best Use
Office B
$218.6K
$191.3K – $255.0K
NOI $15,300 @ 7.0% cap · market cap 612.00%
Second Best
Retail
$203.9K
$178.4K – $237.9K
NOI $14,273 @ 7.0% cap · market cap 570.92%
Theoretical Best
Warehouse
$362.1K
$316.9K – $422.5K
NOI $25,348 @ 7.0% cap · market cap 1,013.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,802
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
$446,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Retail space in Union City, NJ
Properties on Market for Retail space in Union City
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - Suitable for office, salon, or spa use, subject to town approval.
Where is this retail space located?
The property is located at 319 38TH ST Union City, NJ.
What are key features of this property?
This property features: 1,000 SF retail space; Potential office, salon, or spa use, subject to town approval; Tenant pays heat and hot water through PSE&G
