Mixed-Use Building with
For Sale
$450,000
417 43rd Street, Union City, NJ 07087
Two residential apartments sit above former medical office space, creating a combined commercial and residential configuration.
Property Size2,500 SF
Price / SF$180
Days on Market176
Property Features for 417 43rd Street
General Information
Standard status
Active
Size
2,500 SF
Property subtype
VACANT LAND / Vacant Land
Units
Unit Mix
1 x studio, 1 x 1BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,816
Amenities
25
Listing Agency:
HOWARD HANNA RAND REALTY
(201) 653-3933
Listed By:
CONSTANTINE MARAKAS · License #1433118
(201) 653-3933
Source:
Compass
Added: Mar 9
Changed: Aug 30
Last Checked: Aug 30 at 2:52PM
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 HOWARD HANNA RAND REALTY
Investment Insights
Based on property information with market context.
This mixed-use property combines commercial space on the ground floor with two residential apartments above. The lower level was formerly occupied as a doctor’s office and is described as suitable for professional, medical, or retail use. The residential component includes one studio apartment and one one-bedroom apartment, providing a defined blend of commercial and residential occupancy within the existing structure.
Located at 417 43rd Street in Union City, New Jersey, the property may be renovated, modernized, or considered for redevelopment. Any proposed construction should be reviewed with the building department, and the buyer is responsible for obtaining a certificate of occupancy.
Located at 417 43rd Street in Union City, New Jersey, the property may be renovated, modernized, or considered for redevelopment. Any proposed construction should be reviewed with the building department, and the buyer is responsible for obtaining a certificate of occupancy.
Key Highlights
- Ground‑floor space formerly used as a doctor’s office
- Commercial area may suit professional, medical, or retail use
- Two residential units: one studio and one one‑bedroom apartment
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
$41,250
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
9.17%
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%
$825,000
$825.0K
Cap Rate 7%
$589,286
$589.3K
Cap Rate 9%
$458,333
$458.3K
Market Conditions
NOI Build-Up for 2,500 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
$75.0K $30.00/SF
− Vacancy
−$9.0K −$3.60/SF
EGI
$66.0K $26.40/SF
− OpEx
−$24.8K −$9.90/SF
NOI
$41.3K $16.50/SF
Area
Hudson County, NJ
Vacancy
12.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$825,000
Cap Rate 7%
$589,286
Cap Rate 9%
$458,333
Alternative Uses
Best Use
Mixed Use
$589.3K
$515.6K – $687.5K
NOI $41,250 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$549.2K
$480.6K – $640.8K
NOI $38,445 @ 7.0% cap · market cap 8.54%
Theoretical Best
Warehouse
$905.3K
$792.1K – $1.06M
NOI $63,369 @ 7.0% cap · market cap 14.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,929
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two residential apartments sit above former medical office space, creating a combined commercial and residential configuration.
Where is this mixed-use property located?
The property is located at 417 43rd Street Union City, NJ.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Ground‑floor space formerly used as a doctor’s office; Commercial area may suit professional, medical, or retail use; Two residential units: one studio and one one‑bedroom apartment
