Mixed-Use Building with Three Commercial
For Sale
$1,490,000
993 - 995 Broadway #1, Bayonne, NJ 07002
Two lots contain a residential apartment and commercial space, with delivery planned vacant at closing.
Property Size6,000 SF
Price / SF$248.33
Days on Market208
Property Features for 993 - 995 Broadway #1
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Commercial
Zoning
R3
Building Details
Building Size
6,000 SF
Year Built
1920
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Corcoran Sawyer Smith
(201) 610-1010
Listed By:
David Lincoln Wilson
(201) 653-8000
Source:
Cammarotarealestate
Added: Mar 30
Changed: Oct 22
Last Checked: Oct 22 at 2:23PM
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 Corcoran Sawyer Smith
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Investment Insights
Based on property information with market context.
At 993 and 995 Broadway, this mixed-use building contains approximately 6,000 square feet across two lots. The layout combines one residential unit with three commercial units. The apartment offers 1,500 square feet, three bedrooms, and one full bathroom; the property has five bathrooms in total. Built in 1920, the building is zoned R3.
The property is expected to be delivered vacant at closing. Its residential and commercial components are arranged within a single building spanning nearly half a block.
The property is expected to be delivered vacant at closing. Its residential and commercial components are arranged within a single building spanning nearly half a block.
Key Highlights
- Approximately 6,000 square feet across two lots
- Three commercial units and one residential apartment
- Residential unit measures 1,500 square feet and has 3 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,000
Cap Rate
6.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,980,000
$2.0M
Cap Rate 7%
$1,414,286
$1.4M
Cap Rate 9%
$1,100,000
$1.1M
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$180.0K $30.00/SF
− Vacancy
−$21.6K −$3.60/SF
EGI
$158.4K $26.40/SF
− OpEx
−$59.4K −$9.90/SF
NOI
$99.0K $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%
$1,980,000
Cap Rate 7%
$1,414,286
Cap Rate 9%
$1,100,000
Alternative Uses
Best Use
Mixed Use
$1.41M
$1.24M – $1.65M
NOI $99,000 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.17M
$1.90M – $2.53M
NOI $152,086 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two lots contain a residential apartment and commercial space, with delivery planned vacant at closing.
Where is this mixed-use property located?
The property is located at 993 - 995 Broadway #1 Bayonne, NJ.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: Approximately 6,000 square feet across two lots; Three commercial units and one residential apartment; Residential unit measures 1,500 square feet and has 3 bedrooms and 1 full bathroom
