Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    704 New York Ave Union City, NJ 07087-4102

    • Commercial real estate
    • 4,716 SF
    • 0.09 lot acres
    OFF-MARKET
    Value Estimations
    $710,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-0261715
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dominican Cake / Bakery / Specialty Food Shop
    • Pa Las Nubes Tours / Travel Agency

    Property Details for 704 New York Ave

    Year built
    1910
    Construction
    FRAME
    Lot size
    0.09 lot acres
    Property size
    4,716 SF
    Property type
    Commercial real estate
    APN
    10 00037-0000-00017
    APU
    1000037000000017

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $854,000
      Market price range: $698k - $1.48M
      AI Estimate
      $431,000
      Market price range: $351k - $786k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,065,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Union City
    County
    Hudson
    State
    New Jersey
    Longitude
    -74.0378
    Latitude
    40.7563
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $18,157
    $165,000
    $80,000
    $245,000
    -
    $165,000
    $80,000
    $245,000

    Comparable in this City

    • Value Estimation by Request
      3,576 SF

      4808 Bergenline Ave

      Retail properties • 3,576 SF
      4808 Bergenline Ave, Union City, NJ 07087
      View Details
    • Value Estimation by Request
      0.18 Acres

      3330 Hudson Ave

      COMMERCIAL (GENERAL) • 0.18 Acres
      3330 Hudson Ave, Union City, NJ 07087
      View Details
    • Value Estimation by Request
      0.13 Acres

      4700 Kennedy Blvd

      COMMERCIAL (GENERAL) • 0.13 Acres
      4700 Kennedy Blvd, Union City, NJ 07087-2714
      View Details
    • Value Estimation by Request

      1500 Kerrigan Ave

      COMMERCIAL (GENERAL)
      1500 Kerrigan Ave, Union City, NJ 07087
      View Details
    • Value Estimation by Request

      402 Mtn Rd

      COMMERCIAL (GENERAL)
      402 Mtn Rd, Union City, NJ 07087-5430
      View Details
    • Value Estimation by Request
      0.06 Acres

      4015 New York Ave

      COMMERCIAL (GENERAL) • 0.06 Acres
      4015 New York Ave, Union City, NJ 07087
      View Details

    Similar Nearby for Sale

    • $649,000

      Union City Commercial Land Opportunity

      1,625 SF Corner Lot, Development Potential
      733 6Th St, Union City, NJ 07087
      View Details
    • $1,950,000
      15,000 SF

      Union City Warehouse - $1.95M

      15,000 SF Industrial Warehouse, Union City, NJ
      117-119 36Th St, Union City, NJ 07087
      View Details
    • $1,484,874

      Union City Multifamily Portfolio

      Nine-unit condo building, high ROI
      3301 Pleasant Ave, Union City, NJ 07087
      View Details
    • $850,000

      Union City Triplex Investment Opportunity

      Triplex in Union City near transportation, shopping, and schools.
      411 Monastery Pl, Union City, NJ 07087
      View Details
    • $829,000

      Union City Multifamily Property

      Multifamily property for sale in Union City, NJ.
      122 18Th St, Union City, NJ 07087
      View Details
    • $1,295,000

      Renovated Multifamily Home with Income

      Fully renovated multifamily home near transportation, ideal for rental income.
      530 45Th St, Union City, NJ 07087
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,300 SF

      Union City Office Space for Lease

      4,300 sq ft renovated office, prime location.
      3708 Bergenline Ave, Union City, NJ 07087
      View Details
    • $18 SF/Yr
      3,500 SF

      Union City Industrial Manufacturing Space

      Prime Union City Manufacturing Facility
      706 7Th St, Union City, NJ 07087
      View Details
    • Contact for pricing
      4,403 SF

      Prime Corner Retail Space Available

      High-visibility 4,403 SF commercial space on Bergenline Avenue.
      3201 Bergenline Ave, Union City, NJ 07087
      View Details
    • $2,000 /Mo

      Prime Retail Space on Bergenline

      High-visibility 600 sq ft retail space on Bergenline Avenue.
      4419 Bergenline Ave, Union City, NJ 07087
      View Details
    • $20 SF/Yr

      Union City Retail/Warehouse Space

      7,200 SF retail/warehouse space in Union City.
      420 34Th St, Union City, NJ 07087
      View Details
    • $1,400 /Mo

      Union City Office For Rent

      Renovated office space in prime Bergenline Avenue location.
      3223 Bergenline Ave, Union City, NJ 07087
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    704 New York Ave
    Union City, NJ 07087-4102
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.