Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    509-513 W Union Ave Bound Brook, NJ 08805

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available near Route 28 and Bound Brook train.

    Property size:
    2,000 SF
    Lot size:
    2.93 Acres

    Property Features for 509-513 W Union Ave

    General Information

    Size
    2,000 SF
    Lot size
    2.93 Acres

    We can help!

    Listing Contact
    Shane Wierks
    Shane Wierks
    Source: Moodyscre

    Listing Agent: Shane Wierks

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Space Near Train Station

    This retail space is situated along a major corridor of Route 28, which runs east and west. The property is located near a signalized intersection and is approximately 0.5 miles from the NJ Transit Bound Brook Train Station. Several retail destinations are within proximity, including Target, Home Depot, and Costco, which are about 1.3 miles away. Additionally, the property is located approximately 0.75 miles from Patriots Stadium. The available space is on the second floor and was previously used as a gymnastics school. The property size is 2000 square feet.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bound Brook
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.5481969
    Latitude
    40.5680289

    Nearby Similar for Lease

    • Contact for pricing
      7,841 SF

      Bound Brook Corner Lot Office

      Commercial space with high visibility near transportation and amenities.
      Boro Bound Brk, Bound Brook, NJ 08805
      View Details
    • Contact for pricing
      8,408 SF

      Bound Brook Retail Center For Lease

      Prime Retail Space, 2,000 SF Available
      600 Union Ave, Bound Brook, NJ 08805
      View Details
    • $18 SF/Yr
      6,051 SF

      Bound Brook Retail Space For Lease

      Prime Retail Space, 6,051 SF, 8 Parking Spaces
      465 Union Ave, Bound Brook, NJ 08805
      View Details
    • $2,500 /Mo

      Updated Apartment with Shared Backyard

      Renovated 2nd-floor apartment with hardwood floors and shared backyard.
      234 West High St, Bound Brook, NJ 08805
      View Details
    • Contact for pricing
      5,100 SF

      Retail Space in Mixed-Use Development

      Retail space for lease in Bound Brook, New Jersey.
      507 E Main St, Bound Brook, NJ 08805
      View Details
    • Contact for pricing

      Corner Lot Medical Office Space

      Medical office space with high visibility and convenient transportation access.
      123 E Maple Ave, Bound Brook, NJ 08805
      View Details
    • $8,000 /Mo

      Retail Space in Bound Brook

      3,000 sqft retail space available for rent in Bound Brook.
      241 Union Ave, Bound Brook, NJ 08805
      View Details
    • Contact for pricing

      Retail Storefront on West Union

      1100 SF retail space in high-visibility location.
      310 W Union Ave, Bound Brook, NJ 08805
      View Details
    • $4,000 /Mo

      Daycare and Education Space Available

      Basement space previously used for daycare and education available forrent.
      150 West Union Ave, Bound Brook, NJ 08805
      View Details
    • Contact for pricing
      73,429 SF

      Bound Brook Warehouse Space

      73,429 SF warehouse space available for lease.
      1 W Chimney Rock Rd, Bound Brook, NJ 08805
      View Details
    • $17 SF/Yr
      1,400 SF

      Bound Brook Industrial Space Available

      Industrial property available for lease in Bound Brook, New Jersey.
      8 Chimney Rock Rd, Bound Brook, NJ 08805
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available near Route 28 and Bound Brook train.
    Where is this retail space located?
    The property is located at 509-513 W Union Ave Bound Brook, NJ.
    What are key features of this property?
    This property features: - Major corridor of Route 28 East/West; - .5 Mile to NJ Transit Bound Brook Train Station; - 1.3 Miles from Target, Home Depot, Costco and Patriots Stadium
    (908) 668-9600
    Request Owner's contact information
    509-513 W Union Ave Bound Brook, NJ 08805
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    509-513 W Union Ave
    Bound Brook, NJ 08805
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    509-513 W Union Ave Bound Brook, NJ 08805
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Shane Wierks
    Shane Wierks
    Real Estate License ID: NJ 0786772
    (908) 668-9600
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.