This Retail Property is no longer advertised on LoopNet.com.

500-502 Kearny Ave
Kearny, NJ 07032

Retail Property For Sale

PROPERTY FACTS

Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,922 SF
Building Class
C
Year Built
1915
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
12’
Building FAR
2.25
Lot Size
0.04 AC
Zoning
C-3
Frontage
53 FT on Kearny Ave

Amenities

  • Bus Line
  • Signage

About 500-502 Kearny Ave , Kearny, NJ 07032

Investment opportunity in the heart of Kearny. 4 residential units and 2 stores, Separate utilities. Units consist of: Studio $1,000, 2-1 bedroom units: $1,150 each, 2 bedroom: $1,300, stores leased at $1,100 (#502 lease exp march 2020 w/1 year option to renew) & $1,200 (#500 lease exp April 2020 w/1 year option to renew). Gross income $6,900 monthly, $82,800 Yearly. Approx Yearly Expenses: $20,733 per year includes: Taxes $13,233, Water $1,500, Common area electric & hot water, $1,400, Insurance: $4,000 Snow: $600, Heat is separate and paid by Tenants. At current price $750,000 approx 8.2% Cap Rate! NYC, Hackensack & Newark Bus just a few steps away. Building has unfinished basement. 6 separate Gas hot water baseboard heating systems, 7 gas and 7 electric meters. State inspected 2018.

PROPERTY TAXES

  • Listing ID: 17681344

  • Date on Market: 11/9/2019

  • Last Updated:

  • Address: 500-502 Kearny Ave, Kearny, NJ 07032