Mixed-Use Property: Income
967 Stuyvesant Ave Union, NJ 07083
967 Stuyvesant Ave, Union, NJ, 07083
$2,400,000
For Sale
$2,400,000
Mixed-use property with residential and commercial income potential.
Lot Size0.06 Acres
Days on Market129
Property Features for 967 Stuyvesant Ave
General Information
- Standard status
- Active
- Lot size
- 0.06 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1953
Listing Agency
Better Homes and Gardens RE Elite
(908) 316-8530
Listed by
J.C. GONZALEZ
Source
Elliman
Added: Mar 11 Checked: Jul 17 at 5:08 am
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Investment Insights
Based on property information with market context.
This mixed-use property presents an investment opportunity with both residential and commercial tenants. The building includes four 2-bedroom apartments, currently rented below market value at $4,900 per month. Market rents could potentially increase this to approximately $8,000 per month. The commercial component features a storefront rented for $2,500 per month, and a bar/restaurant leased at $4,500 per month under a 5-year lease, with an additional $2,000 per year collected for property taxes and separate utilities. A Verizon antenna lease generates $11,000 annually. The total current monthly income is approximately $12,816, with the potential to reach $19,500, translating to a Gross Operating Income (GOI) of $153,792 annually. Estimated expenses include taxes ($18,177-$25,177), insurance ($12,695), and water ($1,500 per year). The Net Operating Income (NOI) is currently estimated at $121,420.
Key Highlights
- High income potential: Current monthly income of approximately $12,816 with the ability to increase to approximately $19,500 at market rents.
- Mixed‑use property with both residential and commercial tenants, offering diversified income streams.
- Existing commercial leases: Storefront, bar/restaurant (5‑year lease plus property tax contribution), and Verizon antenna lease generating stable income.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with residential and commercial income potential.
Where is this mixed-use property located?
The property is located at 967 Stuyvesant Ave Union, NJ.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: High income potential: Current monthly income of approximately $12,816 with the ability to increase to approximately $19,500 at market rents.; Mixed‑use property with both residential and commercial tenants, offering diversified income streams.; Existing commercial leases: Storefront, bar/restaurant (5‑year lease plus property tax contribution), and Verizon antenna lease generating stable income.
