Multifamily
611 12th St, Union City, NJ 07087
For Sale
$2,367,000
Located in Union City, New Jersey, within Hudson County.
Property Size10,500 SF
Days on Market53
Property Features for 611 12th St
General Information
Standard status
Size
Property subtype
Occupancy
Amenities
Separately Metered Utilities – Gut Renovated in 1999, with Separate Metering for Heat, Hot Water, Cold Water, and Sewer, Minimizing Landlord Operating Expenses.
Value-Add Potential – Opportunity to Increase NOI Through Annual Rent Increases and Operational Efficiencies.
Strong Union City Tenant Base – Consistent Demand for Rental Housing in an Established Hudson County Market.
Building Details
Building Size
Units
Listing Agency:
Marcus & Millichap - New Jersey
Listed By:
Alan Cafiero
(201) 742-6118
Source:
Marcusmillichap
Added: Sep 18
Changed: Oct 26
Last Checked: Nov 8 at 2:15AM
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 Marcus & Millichap - New Jersey
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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 multifamily property is located at 611 12th Street in Union City, New Jersey. The property is situated in Hudson County.
Key Highlights
- 611 12th Street address in Union City, New Jersey
- Located in Hudson County
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$161,469
Cap Rate
6.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,229,380
$3.2M
Cap Rate 7%
$2,306,700
$2.3M
Cap Rate 9%
$1,794,100
$1.8M
Market Conditions
NOI Build-Up for 10,500 SF
Gross rent
$315.0K $30.00/SF
− Vacancy
−$21.4K −$2.04/SF
EGI
$293.6K $27.96/SF
− OpEx
−$132.1K −$12.58/SF
NOI
$161.5K $15.38/SF
Area
Hudson County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,229,380
Cap Rate 7%
$2,306,700
Cap Rate 9%
$1,794,100
Alternative Uses
Best Use
Apartment 5plus
$2.31M
$2.02M – $2.69M
NOI $161,469 @ 7.0% cap · market cap 6.82%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.80M
$3.33M – $4.44M
NOI $266,151 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
3,212
Businesses Nearby
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Multifamily properties in Union City
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Located in Union City, New Jersey, within Hudson County.
Where is this multifamily property located?
The property is located at 611 12th St Union City, NJ.
What is the asking price?
The asking price for this property is $2,367,000.
What are key features of this property?
This property features: 611 12th Street address in Union City, New Jersey; Located in Hudson County
