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Mixed-Use

440 60th Street

440 60th St, West New York, NJ 07093

Listing Price: $3,650,000

Cap Rate
4.10%
Number of Units
26
Occupancy
85.0%
Price/Unit
$140,385
Price/Gross SF
$182.50
Gross SF
20,000

Investment Overview

Marcus and Millichap have been exclusively hired to sell 440 60th Street in West New York. The property consists of twelve box style (2) Bedroom apartments and twelve offices with private entrances. Each residential unit is separately metered for electric and cooking gas. Many recent capital improvements have been made that include a new roof in 2017, new air conditioning units for the office space, new gas fired heating furnaces and new hot water boilers. Upside: Filling In vacant offices would stabilize the deal to a 6% cap. and apartment rents are 35% under market which can be achieved through the capital improvement program as they turn over.

Investment Highlights

  • Mixed-Use Property With 12 Apartments and 12 Office Spaces
  • Excellent Location Off Of Bergenline Avenue On 60th Street A Main Corridor In West New York
  • Many Recent Capital Improvements
  • Major Upside In Filling In Vacant Office Units (6% Cap stabilized) & Under Market Apartment Rents (7.6% Cap)

Exclusively Listed By

Listing Price: $3,650,000

Cap Rate
4.10%
Number of Units
26
Occupancy
85.0%
Price/Unit
$140,385
Price/Gross SF
$182.50
Gross SF
20,000

Investment Highlights

  • Mixed-Use Property With 12 Apartments and 12 Office Spaces
  • Excellent Location Off Of Bergenline Avenue On 60th Street A Main Corridor In West New York
  • Many Recent Capital Improvements
  • Major Upside In Filling In Vacant Office Units (6% Cap stabilized) & Under Market Apartment Rents (7.6% Cap)

Investment Overview

Marcus and Millichap have been exclusively hired to sell 440 60th Street in West New York. The property consists of twelve box style (2) Bedroom apartments and twelve offices with private entrances. Each residential unit is separately metered for electric and cooking gas. Many recent capital improvements have been made that include a new roof in 2017, new air conditioning units for the office space, new gas fired heating furnaces and new hot water boilers. Upside: Filling In vacant offices would stabilize the deal to a 6% cap. and apartment rents are 35% under market which can be achieved through the capital improvement program as they turn over.

Exclusively Listed By

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