Former Restaurant
For Sale
Contact for pricing
4105 Park Ave, Union City, NJ 07087
Single-unit storefront with general retail commercial zoning and a former restaurant use.
Property Size3,456 SF
Price / SF$434.03
Days on Market130
Property Features for 4105 Park Ave
General Information
Standard status
Active
Size
3,456 SF
Property subtype
Retail
Zoning
Commercial Retail
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$84,000
Building Details
Year Built
1898
Year Renovated
2018
Stories
2
Units
1
Tenancy
Single
Listing Agency:
KW Commercial
Listed By:
Bruce Elia · License #NJ 0893523
Source:
Crexi
Added: Apr 24
Changed: Aug 30
Last Checked: May 26 at 9:20AM
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 KW Commercial
Investment Insights
Based on property information with market context.
This single-unit storefront contains 3,456 square feet of retail space at 4105 Park Ave in Union City, New Jersey. The property was originally built in 1898 and underwent renovation in 2018, combining an older building shell with more recent improvements. Its R-MF zoning is identified as general retail commercial, supporting the property’s retail-oriented classification.
The building’s former restaurant use provides a defined commercial context for the space, while the storefront format accommodates continued retail occupancy. The property is located in Union City, NJ 07087, within Northern New Jersey.
The building’s former restaurant use provides a defined commercial context for the space, while the storefront format accommodates continued retail occupancy. The property is located in Union City, NJ 07087, within Northern New Jersey.
Key Highlights
- 3,456 SF single‑unit storefront
- Former restaurant property
- Built in 1898
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
$49,328
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
3.29%
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%
$986,560
$986.6K
Cap Rate 7%
$704,686
$704.7K
Cap Rate 9%
$548,089
$548.1K
Market Conditions
NOI Build-Up for 3,456 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
$74.6K $21.60/SF
− Vacancy
−$4.2K −$1.21/SF
EGI
$70.5K $20.39/SF
− OpEx
−$21.1K −$6.12/SF
NOI
$49.3K $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 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%
$986,560
Cap Rate 7%
$704,686
Cap Rate 9%
$548,089
Alternative Uses
Best Use
Retail
$704.7K
$616.6K – $822.1K
NOI $49,328 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.25M
$1.10M – $1.46M
NOI $87,602 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,611
Businesses Nearby
190k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 42%
Apparel 4%
Home Improvements & Furnishings 2%
McDonald's
Dining
60,394 visits/mo
0.5 miles
Bank of America
Shops & Services
20,618 visits/mo
0.5 miles
TD Bank
Shops & Services
17,731 visits/mo
0.4 miles
Taco Bell
Dining
14,953 visits/mo
0.5 miles
Speedway
Shops & Services
14,297 visits/mo
0.4 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Single-unit storefront with general retail commercial zoning and a former restaurant use.
Where is this storefront property located?
The property is located at 4105 Park Ave Union City, NJ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 3,456 SF single‑unit storefront; Former restaurant property; Built in 1898
