Mixed-Use Building in Prime
989 BROADWAY, Bayonne, NJ 07002
For Sale
$999,999
Two-story mixed-use building with investment and owner-occupant potential.
Property Size1,800 SF
Price / SF$555.56
Days on Market245
Property Features for 989 BROADWAY
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Listing Agency:
SUMMIT AVENUE REALTORS
(201) 416-4446
Listed By:
PETER AWAD
Source:
Corcoran
Added: Mar 11
Changed: Aug 9
Last Checked: Jul 16 at 7:03AM
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 SUMMIT AVENUE REALTORS
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Investment Insights
Based on property information with market context.
This two-story mixed-use corner building, constructed of brick, is located in a prime area of Bayonne, New Jersey. The property presents investment and owner-occupant potential. The first floor features a medical professional office space of over 1800 square feet, configured with nine exam rooms, a reception area, and a waiting lobby. It includes central AC, two parking spaces, and a partially finished basement with a full bathroom. The commercial space is currently vacant, offering an immediate opportunity for owner occupancy or new lease income. The upper levels contain two residential apartments that generate rental income. The building's corner location provides high visibility and is close to the light rail, buses, shopping, restaurants, and major services. This location is suitable for professional use and residential tenants. The property offers income, exposure, and long-term upside.
Key Highlights
- Large two‑story mixed‑use corner brick building in a prime Bayonne location.
- First floor features a vacant 1800+ sq ft medical professional office with nine exam rooms, reception, waiting area, central AC, two parking spaces, and partially finished basement with full bathroom.
- Two residential apartments on upper levels generate strong rental income.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,700
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$594,000
$594.0K
Cap Rate 7%
$424,286
$424.3K
Cap Rate 9%
$330,000
$330.0K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$54.0K $30.00/SF
− Vacancy
−$6.5K −$3.60/SF
EGI
$47.5K $26.40/SF
− OpEx
−$17.8K −$9.90/SF
NOI
$29.7K $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 Rate 5%
$594,000
Cap Rate 7%
$424,286
Cap Rate 9%
$330,000
Alternative Uses
Best Use
Mixed Use
$424.3K
$371.3K – $495.0K
NOI $29,700 @ 7.0% cap · market cap 2.97%
Second Best
Office B
$393.4K
$344.3K – $459.0K
NOI $27,540 @ 7.0% cap · market cap 2.75%
Theoretical Best
Warehouse
$651.8K
$570.3K – $760.4K
NOI $45,626 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
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Current Use
Location Intelligence
Trade Area within ½ mile
1,321
Businesses Nearby
Explore this area
Business Placement
Demographics for 07002, NJ
71,686
Population
30,161
Households
2.4
Avg Household Size
38
Median Age
40%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
12,360
Density / Sq Mi
$81,285
Median Household Income
$51,157
Median Earnings
$1,593
Median Rent
$446,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Hudson County, NJ
Properties on Market for Mixed-use properties in Hudson County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story mixed-use building with investment and owner-occupant potential.
Where is this mixed-use property located?
The property is located at 989 BROADWAY Bayonne, NJ.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Large two‑story mixed‑use corner brick building in a prime Bayonne location.; First floor features a vacant 1800+ sq ft medical professional office with nine exam rooms, reception, waiting area, central AC, two parking spaces, and partially finished basement with full bathroom.; Two residential apartments on upper levels generate strong rental income.
