Modern Four-Unit
For Sale
Contact for pricing
612 12th Street, Union City, NJ 07087
Built in 2018, the property pairs separate utilities with assigned on-site parking.
Property Size8,286 SF
Price / SF$217.11
Days on Market8
Property Features for 612 12th Street
General Information
Standard status
Active
Size
8,286 SF
Total Parking Spaces
6
Property subtype
Retail, Multifamily
Net Operating Income
$104,535
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Additional Details
Cap Rate
5.8%
Sprinkler System
Yes
Amenities
individual washers and dryers
red oak hardwood flooring
central heating and air conditioning
granite countertops
stainless steel appliances
granite counters and mosaic tile in the kitchens
classic subway tile in the bathrooms
private patio
central reporting fire alarm
security systems
live-in superintendent
Building Details
Year Built
2018
Buildings
1
Units
4
Tenancy
Multi
Listing Agency:
Hudson Realty Group
Listed By:
Westley Page · License #1644035
Source:
Crexi
Added: Aug 28
Changed: Sep 2
Last Checked: Sep 1 at 10:41PM
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 Hudson Realty Group
Investment Insights
Based on property information with market context.
Constructed in 2018, this Union City quadplex contains four two-bedroom, two-bathroom apartments within an 8,286-square-foot building. Unit sizes range from 1,076 to 1,235 square feet, and the 25 x 178 lot includes six dedicated parking spaces. One apartment has a private patio, while interior features include red oak hardwood flooring, granite countertops, stainless steel appliances, mosaic kitchen tile, subway-tile bathrooms, and individual washers and dryers. Each residence is separately metered for water, gas, electricity, and sewer, with tenants responsible for those expenses.
Building systems include central heating and air conditioning, a central reporting fire alarm, security systems, and whole-building sprinklers. A full-time live-in superintendent provides on-site coverage. The property is near Route 3, 495, and 9, as well as bus service to Port Authority with a travel time of less than 30 minutes. Parks, restaurants, shopping, and grocery stores are also nearby. The property reports an approximate 5.8% cap rate.
Building systems include central heating and air conditioning, a central reporting fire alarm, security systems, and whole-building sprinklers. A full-time live-in superintendent provides on-site coverage. The property is near Route 3, 495, and 9, as well as bus service to Port Authority with a travel time of less than 30 minutes. Parks, restaurants, shopping, and grocery stores are also nearby. The property reports an approximate 5.8% cap rate.
Key Highlights
- Four 2‑bedroom, 2‑bathroom apartments in an 8,286‑square‑foot building
- Built in 2018 on a 25 x 178 lot
- Apartment sizes range from 1,076 to 1,235 square feet
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
$138,676
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
7.71%
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%
$2,773,520
$2.8M
Cap Rate 7%
$1,981,086
$2.0M
Cap Rate 9%
$1,540,844
$1.5M
Market Conditions
NOI Build-Up for 8,286 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
$211.8K $25.56/SF
− Vacancy
−$13.7K −$1.65/SF
EGI
$198.1K $23.91/SF
− OpEx
−$59.4K −$7.17/SF
NOI
$138.7K $16.74/SF
Area
Hudson County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /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%
$2,773,520
Cap Rate 7%
$1,981,086
Cap Rate 9%
$1,540,844
Alternative Uses
Best Use
Multifamily LT 5
$1.98M
$1.73M – $2.31M
NOI $138,676 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$1.82M
$1.59M – $2.12M
NOI $127,422 @ 7.0% cap · market cap 7.08%
Theoretical Best
Warehouse
$3.00M
$2.63M – $3.50M
NOI $210,031 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Sprinkler system
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,212
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Built in 2018, the property pairs separate utilities with assigned on-site parking.
Where is this quadplex located?
The property is located at 612 12th Street Union City, NJ.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Four 2‑bedroom, 2‑bathroom apartments in an 8,286‑square‑foot building; Built in 2018 on a 25 x 178 lot; Apartment sizes range from 1,076 to 1,235 square feet
