Overview
Matthews™ has been selected to exclusively market for sale the mixed-use properties located at 3300 Palisade Ave, 210–214 33rd St, & 3301 Hudson Ave in Union City, NJ. The offering consists of seven total units and a nine-space parking lot. The asset features three retail tenants with long-term leases in place, along with three apartments and one single family house. The single-family house at 3300 Palisade will be delivered vacant. The property is currently operating at a 6.89% cap rate and has demonstrated strong historical performance, with 100% rent collections. Since 2020, the property has benefited from over $100,000 in capital expenditures, reflecting a well-maintained and carefully managed asset. Tenants are responsible for heat, hot water, cooking gas, and electricity, providing an attractive, low-expense investment opportunity.
Investment Highlights
Value-Add Opportunity
- 7 Units
- 6.89% Cap Rate
- House at 3300 Palisade will be Delivered Vacant
- 100% Collections
Building Highlights
- 3 Commercial Units
- 4 Residential Units
- 9 Car Parking Lot
- Over $100K in CapEx since 2020
- A portion of the parking lot is under an ingress/egress easement with the Port Authority
- Tenants pay for heat, hot water, cooking gas, & electric
- Landlord pays for water/sewer & common area electric
Prime Location
- 10-15 minutes to NYC and minutes from Hoboken & Historic Downtown Jersey City
- Union City is the most densely populated city in the United States
- Easy access to Garden State Parkway, I-95,I-78, Route 1 & 9 and more
Convenient Transportation
- The building is approximately a 3-minute walk to the 30th St at Palisade Ave bus stop which provides a 10-minute trip into Midtown Manhattan
- The building is also a 5-minute walk to the Bergenline Avenue Station with access to NYC
- The property is located ±1.9 miles from the Lincoln Harbor Ferry Station which offers a direct route to the city
Photo Gallery
Listing Team
License #: 01469842 (NJ)
(201) 218-9156david.ferber@matthews.com