Retail Property in Bound
241 Union Bound Brook, NJ 08805
241 Union, Bound Brook, NJ, 08805
$995,000
For Sale
$995,000
Retail property for sale or lease in Bound Brook.
Property Size3,000 SF
Lot Size0.46 Acres
Price / SF$331.67
Days on Market894
Property Features for 241 Union
General Information
- Standard status
- Active
- Size
- 3,000 SF
- Lot size
- 0.46 Acres
- Property subtype
- Commercial
Listing Agency
RE/MAX FORTUNE PROPERTIES
(201) 816-8889
Listed by
SHIN CHUNG · License #10401202970
Source
Corcoran
Added: Feb 7, 2024 Updated: Jul 6 at 10:01 am Checked: Jul 20 at 3:39 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX FORTUNE PROPERTIES
Investment Insights
Based on property information with market context.
This is a 3,000-square-foot retail property situated on a 19,998-square-foot lot. Currently operating as a Korean Tae Kwon Do school, the property is zoned B-1. Originally configured as two storefronts, it has been renovated into a single unit. The property includes 16 parking spaces. It is available for sale or for lease.
Key Highlights
- 3,
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.8k | $21.60 |
| − Vacancy | −$3.6k | −$1.21 |
| EGI | $61.2k | $20.39 |
| − OpEx | −$18.4k | −$6.12 |
| NOI | $42.8k | $14.27 |
3,000 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$611.7K
$535.3K – $713.7K
NOI $42,820 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Retail property for sale or lease in Bound Brook.
Where is this retail space located?
The property is located at 241 Union Bound Brook, NJ.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 3,
