Fully Leased Mixed-Use
For Sale
$1,265,000
6245 Kennedy Boulevard, North Bergen, NJ 07047
Income-producing property with residential and commercial units in North Bergen.
Property Size3,826 SF
Price / SF$330.63
Days on Market100
Property Features for 6245 Kennedy Boulevard
General Information
Standard status
Active
Size
3,826 SF
Property subtype
MULTI_FAMILY
Listing Agency:
Keller Williams Village Square Realty
(201) 677-8843
Listed By:
Meena R. Patel
(201) 677-8843
Source:
Serhant
Added: May 21
Changed: Aug 25
Last Checked: Aug 26 at 2:18PM
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 Keller Williams Village Square Realty
Investment Insights
Based on property information with market context.
This fully leased, income-producing mixed-use property is located in North Bergen on a high-visibility corner along Kennedy Boulevard, a busy corridor with over 19,000 vehicles passing daily. The 3,826 sq ft building has been fully renovated and offers immediate cash flow with upside potential. It features three 2-bedroom, 1-bath residential apartments and one ground-floor commercial unit, all currently occupied. The retail space is leased to an established Mexican deli/grocery operation under a long-term commercial lease with annual escalations through 2028 and a 5-year renewal option. One residential unit is currently on a month-to-month tenancy, offering flexibility for renegotiation, a new long-term lease, or owner-occupancy. Renovations completed in 2023 include new kitchens, bathrooms, and water heaters in all residential units, and a new hood installed for the restaurant. A new roof was installed in 2025. The property is located minutes from the George Washington Bridge, Lincoln Tunnel, I-95, I-495, and Routes 1 and 9, and is surrounded by CVS, Dunkin', Starbucks, and Walgreens. North Bergen rent control is in place. Buyers are required to conduct their own due diligence.
Key Highlights
- Fully leased, income‑producing mixed‑use building with immediate cash flow.
- Prime, high‑visibility corner location on Kennedy Boulevard with high traffic count.
- Long‑term commercial lease with annual escalations through 2028 and a 5‑year renewal option.
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
$63,129
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
4.99%
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%
$1,262,580
$1.3M
Cap Rate 7%
$901,843
$901.8K
Cap Rate 9%
$701,433
$701.4K
Market Conditions
NOI Build-Up for 3,826 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
$114.8K $30.00/SF
− Vacancy
−$13.8K −$3.60/SF
EGI
$101.0K $26.40/SF
− OpEx
−$37.9K −$9.90/SF
NOI
$63.1K $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%
$1,262,580
Cap Rate 7%
$901,843
Cap Rate 9%
$701,433
Alternative Uses
Best Use
Mixed Use
$901.8K
$789.1K – $1.05M
NOI $63,129 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.39M
$1.21M – $1.62M
NOI $96,980 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,551
Businesses Nearby
Explore this area
Business Placement
Demographics for 07047, NJ
63,361
Population
25,024
Households
2.5
Avg Household Size
39
Median Age
32%
College-Educated
83%
High-School Grad
5.1 sq mi
ZIP Area
12,424
Density / Sq Mi
$75,505
Median Household Income
$43,150
Median Earnings
$1,702
Median Rent
$466,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Income-producing property with residential and commercial units in North Bergen.
Where is this mixed-use property located?
The property is located at 6245 Kennedy Boulevard North Bergen, NJ.
What is the asking price?
The asking price for this property is $1,265,000.
What are key features of this property?
This property features: Fully leased, income‑producing mixed‑use building with immediate cash flow.; Prime, high‑visibility corner location on Kennedy Boulevard with high traffic count.; Long‑term commercial lease with annual escalations through 2028 and a 5‑year renewal option.
