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Opportunity Zone
 

Classic Auction - Retail

Former Bank Branch with On-Site Parking

4200-08 Bergenline Avenue, Union City, NJ 07087

  • Asset Type
  • Real Estate
  • Property Type
  • Retail
  • Land Area
  • 0.29 Acres
  • Year Built
  • 1963
  • Number of Floors
  • 1
  • Number of Buildings
  • 1
  • Parking Count
  • 18
  • Occupancy
  • 35.00%
  • Occupancy as of
  • Apr 01, 2020
  • Retail Type
  • Neighborhood Center
  • Anchor
  • No
  • Property Size
  • 4,003 Sq Ft

4200-08 Bergenline Ave, Union City, NJ

Property Tours are being scheduled for July 13th.  Please contact Josh Malka at (201) 658-8014, or by e-mail at jmalka@ngkf.com to schedule your tour.

Investment Highlights

  • LOCATION - Corner property in an Opportunity Zone at the intersection of Bergenline Avenue (~103') and 42nd Street (~124') with significant area traffic.
  • OPPORTUNITY ZONE - Powerful vehicle to defer capital gains, receive tax break and increase after-tax IRR
  • ACCESS - Excellent regional access via Route 495, which provides access to Manhattan (via the Lincoln Tunnel).
  • ZONING - C-N district allowing low and mid-rise residential (non-resi on 1st flr), offices (upper flrs), retail, banks (excl drive-thru), restaurant, bar, health club, child care, and other.
  • POSITIONING - Ideally positioned within the trade area in the heart of Union City, Hudson Cty, and benefiting from unobstructed visibility along Bergenline Avenue and 42nd Street.
  • DEMAND - Given the strategic and mature location, ample parking, former bank branch with drive-thru, there will be strong demand to backfill the vacancy.
  • TENANCY - 35% leased to 1 tenant with weighted average remaining lease term of ~3 years and an impressive weighted average time in the building of ~11 years evidencing strong commitment to the asset.
     

Newmark Knight Frank and RealINSIGHT Marketplace are pleased to present the opportunity to acquire the fee-simple interest at 4200-08 Bergenline Avenue, Union City, NJ.

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Platform Fee

Platform fee for this transaction is 5.00% or a minimum of $25,000.

Need Help?

Have questions about Marketplace? You can reach us at 800.915.7015 or info@rimarketplace.com.

Auctioneer

  • Richard G. Warner

    c/o Fisher Auction Company Inc.

    License: 0120281