Flex Space with Interior
New
For Sale
$775,900
705 27TH ST, Union City, NJ 07087
The property combines warehouse, office, and storage areas with indoor vehicle parking and a bathroom.
Property Size3,500 SF
Price / SF$221.69
Days on Market2
Property Features for 705 27TH ST
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Commercial
Listing Agency:
REMAX VILLA REALTORS
Listed By:
Gary Palermo · License #13436
Source:
Trompeterrealestate
Added: Sep 24
Last Checked: Sep 24 at 6:28AM
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 REMAX VILLA REALTORS
Investment Insights
Based on property information with market context.
This brick flex property on a 38 x 100 lot brings together warehouse, workspace, storage, and office areas, along with a bathroom. Interior garage access accommodates 3+ vehicles. The building also has approximately 13' ceiling heights and a steel-beam block-and-roller lifting system.
Located in Hudson County, the property offers access to New Jersey highways and the Lincoln Tunnel.
Located in Hudson County, the property offers access to New Jersey highways and the Lincoln Tunnel.
Key Highlights
- 38 x 100 lot
- Interior garage parking for 3+ vehicles
- Approx. 13' ceiling heights
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
$29,224
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
3.77%
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%
$584,480
$584.5K
Cap Rate 7%
$417,486
$417.5K
Cap Rate 9%
$324,711
$324.7K
Market Conditions
NOI Build-Up for 3,500 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
$47.9K $13.68/SF
− Vacancy
−$2.9K −$0.83/SF
EGI
$45.0K $12.85/SF
− OpEx
−$15.7K −$4.50/SF
NOI
$29.2K $8.35/SF
Area
Hudson County, NJ
Vacancy
6.10%
Lease Rate
$13.68 /SF/Yr
Expense Ratio
35.00%
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%
$584,480
Cap Rate 7%
$417,486
Cap Rate 9%
$324,711
Alternative Uses
Best Use
Warehouse
$1.27M
$1.11M – $1.48M
NOI $88,717 @ 7.0% cap · market cap 11.43%
Second Best
Industrial
$1.06M
$924.2K – $1.23M
NOI $73,937 @ 7.0% cap · market cap 9.53%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,837
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - The property combines warehouse, office, and storage areas with indoor vehicle parking and a bathroom.
Where is this flex space located?
The property is located at 705 27TH ST Union City, NJ.
What is the asking price?
The asking price for this property is $775,900.
What are key features of this property?
This property features: 38 x 100 lot; Interior garage parking for 3+ vehicles; Approx. 13' ceiling heights
