May 11, 2022 – Connor Russo and Michael Lombardi of Horvath & Tremblay have successfully completed the sale of 912 Summit Avenue in Union City, New Jersey. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $820,000.
912 Summit Avenue is a mixed-use building located in Union City, New Jersey. The Property is comprised of a three-story mixed-use building that features retail on the ground floor, and four (4), 2-Bedroom/1-Bathroom residential units on the upper floors. The building is situated on a 0.07-acre parcel and is 100% occupied. The Property is strategically located adjacent to the signalized intersection of Summit Avenue and 10th Street in the southwest section of Union City. Summit Avenue is one of the area’s primary retail corridors and along with John F Kennedy Boulevard, provides direct access to NJ Route 495. Additionally, the Property is convenient to US Routes 1 & 9 and is surrounded by national retailers and local businesses that drive traffic to the area. 912 Summit Avenue is 1-mile from the Hudson-Bergen Light Rail Station, 2-miles from the Lincoln Tunnel connecting the area with midtown Manhattan, 2.5-miles from the Path Train at Journal Square Station, and 3-miles from the Newport Station. The Property also benefits from its proximity to numerous interstates and state highways (Interstate 95, US Routes 1 and 9, and NJ Routes 495 and 3).
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.