402 Washington St, Hoboken, NJ

$3,500,000 

  • Beds:
  • Baths: 4

Description

INVESTMENT OPPORTUNITY! ~6% Cap Rate based on current income (below market rents) & expenses. Here is a rare opportunity to purchase a commercial property on Hoboken’s acclaimed Washington Street. This property has a large commercial space on the ground floor with three residential apartments above. The commercial space is currently leased to a popular salon/spa that has been in operation for approximately 8 years. Unit #1 is a 2 Bed / 1 Bath, Unit #2 is 1 Bed / 1 Bath (both located on the 2nd Floor) and Unit #3 is a 2 Bed / 1 Bath (located on 3rd Floor). All the units feature hardwood floors, spacious living rooms, & kitchen areas. The residential apartments have been registered with the city. The building has a fully finished basement that is used as storage space for the spa/salon. The building has 2 separate hot water heaters (1 for the commercial space & 1 for the residential units), 5 electric & 5 gas meters (1 for the commercial space, 3 for the residential units & 1 for the common areas). Just a couple blocks away from the PATH train, this sought-after property is guaranteed to bring the commercial space an overwhelming amount of foot traffic.

Property Details

  • Bedrooms:
  • Bathrooms: 4
  • Property Type: 4 Family
  • MLS #: 170007768
  • Tax Year: 2016
  • Taxes: $24,289
  • Days on Market: 16
  • Status: ACTIVE

Amenities

  • Basement Finished
  • Exterior Brick
  • Heating/Cooling Baseboard, Gas
  • Lot Dimensions 23.25 X 75
  • Parking Description Other-See Remarks

Courtesy of: Court Street Property Group

Office: 201-822-1850

Listing data courtesy of Hudson County MLS. The data relating to real estate for sale or rent on this web site comes in part from the IDX program of the HCMLS. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but is not guaranteed and should be verified by personal inspection or with the appropriate professionals.

Updated: 26th May, 2017 9:01 PM.