100% Occupied Mixed-Use/Development Site
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100% Occupied Mixed-Use/Development Site
2 Properties Online Auction Sale North Bergen, NJ
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Investment Highlights
- 901–915 Paterson Plank Road is mixed-use asset featuring five fully occupied units on month-to-month terms, offering a unique value-add opportunity.
- Situated in a low-density residential zone, offering tremendous development potential in the New York City metro area.
- Within a population of over 1.5 million with a median household income of $103,000, offering strong consumer spending potential and demand.
- Steps from John F Kennedy Boulevard and Grand Avenue, with convenient access to major highways such as I-495, I-95, and the George Washington Bridge.
- Located in a vibrant retail and business community near national retailers, including ShopRite, Aldi, Starbucks, Dunkin’, and Chase Bank.
- Hudson Waterfront submarket is experiencing low vacancy rates and increasing rental demand, positioning this asset for significant upside.
Executive Summary
901 – 915 Paterson Plank Road is a prime 8,585-square-foot mixed-use building frontage along Paterson Plank Road and 9th Street in North Bergen, New Jersey. This income-producing asset sits on two parcels, comprising five units, two residential apartments, and three retail units. Located in a low-density residential zone, offering an investor a tremendous development opportunity in the New York City metro area. The existing structures include a two-story residential structure and a single-story warehouse/garage, allowing easy demolition. The asset is fully occupied by tenants on month-to-month lease terms. 901-915 Paterson Plank Road is a rare opportunity to acquire a performing property with immense value-add in a growing residential market.
This property is ideally located just steps from major thoroughfares such as John F Kennedy Boulevard and Grand Avenue, providing excellent connectivity to key regional routes, including the George Washington Bridge, Lincoln Tunnel, Interstates 495 and 95, and Routes 1 and 9. Public transit access is also within easy reach, serving a diverse and vibrant business community. The surrounding area boasts a variety of national retailers like ShopRite, Dollar General, Aldi, Starbucks, Dunkin’, Chase Bank, and popular fast-food chains like Popeyes and KFC, contributing to the thriving retail environment.
North Bergen’s proximity to New York City, along with its relaxed yet accessible vibe, makes 901–915 Paterson Plank Road a rare find in an increasingly desirable market. With a dense population of over 1.5 million and a median household income of $103,000 within 5 miles, the area offers significant consumer spending potential of nearly $4.2 billion annually. The asset is in a renter-dominated location where 73% of the population are renters. The location, with its high percentage of renters and growing retail demand, makes it an attractive option for investors looking to capitalize on the thriving Hudson Waterfront multifamily submarket. This property represents an exceptional value-add opportunity in a strong and evolving market, poised for continued growth.
Property tours are available by appointment only. Please contact the broker to schedule.
This property is ideally located just steps from major thoroughfares such as John F Kennedy Boulevard and Grand Avenue, providing excellent connectivity to key regional routes, including the George Washington Bridge, Lincoln Tunnel, Interstates 495 and 95, and Routes 1 and 9. Public transit access is also within easy reach, serving a diverse and vibrant business community. The surrounding area boasts a variety of national retailers like ShopRite, Dollar General, Aldi, Starbucks, Dunkin’, Chase Bank, and popular fast-food chains like Popeyes and KFC, contributing to the thriving retail environment.
North Bergen’s proximity to New York City, along with its relaxed yet accessible vibe, makes 901–915 Paterson Plank Road a rare find in an increasingly desirable market. With a dense population of over 1.5 million and a median household income of $103,000 within 5 miles, the area offers significant consumer spending potential of nearly $4.2 billion annually. The asset is in a renter-dominated location where 73% of the population are renters. The location, with its high percentage of renters and growing retail demand, makes it an attractive option for investors looking to capitalize on the thriving Hudson Waterfront multifamily submarket. This property represents an exceptional value-add opportunity in a strong and evolving market, poised for continued growth.
Property tours are available by appointment only. Please contact the broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
Property Facts
| Sale Conditions | Auction Sale | Number of Properties | 2 |
| Sale Type | Investment | Total Building Size | 8,585 SF |
| Status | Active | Total Land Area | 0.18 AC |
| Sale Conditions | Auction Sale |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Total Building Size | 8,585 SF |
| Total Land Area | 0.18 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built |
|---|---|---|---|
| 905-915 Paterson Plank Rd, North Bergen, NJ 07047 | Industrial | 6,100 SF | 1910 |
| 901 Paterson Plank Rd, North Bergen, NJ 07047 | Residential | 2,485 SF | 1916 |
Sale Advisors
Sale Advisors
Devin Perez, Associate
(201) 742-6154
Contact
Devin Perez is an investment sales advisor at Marcus & Millichap. Devin specializes in exclusively representing sellers and buyers of Retail and Mixed-Use properties in Hudson County, New Jersey. Having 10 years of experience, Devin is a versatile broker that ensures his clients achieve a high level of success by providing a specialized approach to investment sales guided by the firm’s mission of helping clients create and preserve wealth. Devin is a 2008 graduate of Virginia Tech, where he majored in Residential Property Management and was a varsity letterman on the nationally ranked Football team. NJ: 1004553
Alan Cafiero, Senior Managing Director Investments
(201) 742-6118
Contact
Alan Cafiero leads the largest team of investment sales agents in the New Jersey Marcus & Millichap office who focus on representing owners and developers in the disposition of commercial real estate assets. Alan specializes in selling net lease properties, retail shopping centers, office and industrial properties in New Jersey and the Northeast. After 14+ years in the business, Alan has closed over 450 transactions totaling over $1.6 Billion of real estate.
Alan graduated from Seton Hall University in 2004 with a B.S. in Business Administration, with a concentration in Finance and Sports Management.
Alan and Ben are the top performing team for Marcus & Millichap in New Jersey. Alan has received Sales Recognition Awards each year from 2011 – 2021, the National Achievement Award each year from 2015 – 2021, and received the Chairman's Club Award in 2021. Alan has twice been named to Mid-Atlantic Real Estate Journal’s Top 40 under 40. Alan is a member of the International Council of Shopping Centers and NAIOP.
Alan graduated from Seton Hall University in 2004 with a B.S. in Business Administration, with a concentration in Finance and Sports Management.
Alan and Ben are the top performing team for Marcus & Millichap in New Jersey. Alan has received Sales Recognition Awards each year from 2011 – 2021, the National Achievement Award each year from 2015 – 2021, and received the Chairman's Club Award in 2021. Alan has twice been named to Mid-Atlantic Real Estate Journal’s Top 40 under 40. Alan is a member of the International Council of Shopping Centers and NAIOP.
Brent Hyldahl, First Vice President Investments
(201) 742-6116
Contact
Brent Hyldahl is a retail, medical/office, mixed-use, industrial and net-lease specialist with Marcus & Millichap. Brent exclusively represents buyers and sellers of investment properties throughout the region, and acts in accord with the company-wide mission to help clients create and preserve wealth by providing the best real estate investment sales, financing, research and advisory services available. He works with both sell-side and buy-side clients, representing 1031 exchange buyers, private investors, and private owners.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial property. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Emily Walper
Contact
Auctioneer License:
Ten-X Commercial, LLC Arlene Richardson RE Brkr 2187404
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Devin Perez -
Alan Cafiero -
Brent Hyldahl -
Marcus & Millichap
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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100% Occupied Mixed-Use/Development Site
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