1102 Avenue C Bayonne, NJ 07002
- Mixed-use properties
Current Use by Public Records
- Mixed-use properties
Property Details for 1102 Avenue C
- Year built
- 1900
- Property type
- Mixed-use properties
- Property subtype
- Investment properties
Description
This exceptional three-story mixed-use building in Bayonne, NJ, presents a compelling investment opportunity. Located at 1102 Avenue C, this 1,890 sq ft property, built in 1900, boasts three units: two spacious three-bedroom apartments and a ground-floor commercial space. The commercial unit, zoned for food preparation, is currently leased to a thriving business under a long-term (5-year lease with 4 years remaining) agreement, providing stable income. One apartment is on a month-to-month lease, offering immediate potential for rent increases. The other apartment has a 5-year lease with annual $100 rent bumps. The property generates a Net Operating Income (NOI) of $53,118, resulting in an attractive 6.26% capitalization rate. The building's prime location in Bayonne, with its convenient access to New York City via NJ Transit, contributes to its strong rental demand and investment potential. This value-add opportunity allows for further enhancement and increased profitability. The asking price is $849,000. This property offers a solid return on investment in a rapidly growing market.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bayonne
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.1026
- Latitude
- 40.686
