NJ
Passaic
Passaic City
07055
102 Summer St
102 Summer St, Passaic City, NJ 07055
Share Listing
Listing Type
Commercial/Industrial
Listing Status
under contract
24
$840,000

Home Details for 102 Summer St

Price
$840,000
Type
Commercial Sale
Bedrooms
0
Bathrooms
Square feet
NaN
Year built
1920
Lot size acres
0.11
County
Passaic
Garage
Days on site
14
MLS Listing#
3966680
Property Description

Investment Opportunity: Three-Unit Automotive Repair shop. Presenting a rare opportunity to acquire a 3-unit automotive repair facility. 7,400 sq ft of building space and 14,050 sq ft of total lot area. The property consists of three individual repair bays, each equipped with their own private half bathroom, making the units fully self-contained.Current Lease Overview:102 Summer Street (largest unit): Rented at $3,400/month95 Burgess Street (smaller unit): Rented at $1,800/month95 Burgess Street (larger side): Rented at $2,700/monthTotal Current Monthly Rent: $7,900Two of the three leases have expired, presenting an immediate opportunity for lease renewal at market rates or replacement with new tenants. The third lease is set to expire on September 30, 2025.Investment Highlights:Cap Rate: 8% based on current incomeStrong value-add potential by increasing below-market rentsFunctional layout with individual restrooms and clear bay separationExcellent owner-user or investor opportunity in a high-demand commercial sectorThis property offers both steady cash flow and upside potential through improved lease terms.

Property Features
  • Heating Information
    • Natural Gas
  • Water Features
    • Public
  • Utilities
    • Natural Gas Available
  • Parking
    • On Street
Listing Courtesy: ARENA COMMERCIAL BROKERAGE LLC - 201-689-4400
The data displayed relating to real estate for sale comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. This information is being provided 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. Notice: The dissemination of listings displayed herein does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker. Information deemed reliable but not guaranteed. Copyright ©2025 Garden State Multiple Listing Service, L.L.C. All Rights Reserved.
Transportation
Check the walk, transit, and bike score for
Neighborhood Market Statistics
See average values in the proximity of this property
Median Listing Price
Median Days on Site
Median Square Feet
Market statistics compiled from data from Garden State MLS.
EXIT PLATINUM REALTY
200 Claremont Ave, Montclair, NJ 07042
Erica Campbell
Franchisee
Office
973 746 4777
Agent
973 277 3965
Request more details
Code: