Prime Union Commercial Property For
For Sale
$1,250,000
1307 Stuyvesant Ave, Union, NJ 07083
Iconic property in Union's thriving Downtown Transition Zone.
Property Size2,863 SF
Price / SF$436.60
Days on Market186
Property Features for 1307 Stuyvesant Ave
General Information
Standard status
Active
Size
2,863 SF
Building Details
Year Built
1920
Listing Agency:
DUARTE HOMES AGENCY LLC
Listed By:
ADRIANA DUARTE · License #2079236
(908) 315-9080
Source:
Luminancerealty
Added: Mar 24
Changed: Sep 8
Last Checked: Sep 24 at 1:11PM
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 DUARTE HOMES AGENCY LLC
Investment Insights
Based on property information with market context.
This iconic property, situated in Union's thriving Downtown Transition Zone, presents a rare opportunity for owner-users, investors, or developers. The property benefits from exceptional visibility and strong foot traffic in one of Union's most active commercial districts, making it a prime business location. The building features approximately 2,800 sqft of private office space across three levels, currently configured with multiple offices and work areas suitable for professional, service, or boutique business use. It also includes a partially finished basement, a kitchenette, and two bathrooms. A significant feature is the parking lot, which provides 15 parking spaces in the rear. Architectural and engineering plans are included, illustrating the potential "by right" development of 10 residential units and one ground-floor retail unit, subject to all municipal approvals. The property can be maintained in its current use or adapted to various permitted zoning uses, such as mixed-use development, flex space, medical office/hospital, retail sales, restaurants, category 12, fitness centers, and child-care centers. Buyer to perform their own due diligence. Subject to all municipal approvals.
Key Highlights
- Prime location in Union's thriving Downtown Transition Zone with exceptional visibility and strong foot traffic
- Includes a parking lot with 15 parking spaces
- Architectural and engineering plans included for potential "by right" development of 10 residential units and 1 ground‑floor retail unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,804
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$876,080
$876.1K
Cap Rate 7%
$625,771
$625.8K
Cap Rate 9%
$486,711
$486.7K
Market Conditions
NOI Build-Up for 2,863 SF
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.
Gross rent
$85.9K $30.00/SF
− Vacancy
−$27.5K −$9.60/SF
EGI
$58.4K $20.40/SF
− OpEx
−$14.6K −$5.10/SF
NOI
$43.8K $15.30/SF
Area
Union County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$876,080
Cap Rate 7%
$625,771
Cap Rate 9%
$486,711
Alternative Uses
Best Use
Office B
$625.8K
$547.6K – $730.1K
NOI $43,804 @ 7.0% cap · market cap 3.50%
Second Best
Mixed Use
$539.9K
$472.4K – $629.9K
NOI $37,792 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$747.6K
$654.1K – $872.2K
NOI $52,331 @ 7.0% cap · market cap 4.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,349
Businesses Nearby
Explore this area
Business Placement
Demographics for 07083, NJ
56,131
Population
20,792
Households
2.7
Avg Household Size
41
Median Age
41%
College-Educated
89%
High-School Grad
8.7 sq mi
ZIP Area
6,452
Density / Sq Mi
$118,106
Median Household Income
$58,443
Median Earnings
$1,938
Median Rent
$425,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Iconic property in Union's thriving Downtown Transition Zone.
Where is this office building located?
The property is located at 1307 Stuyvesant Ave Union, NJ.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Prime location in Union's thriving Downtown Transition Zone with exceptional visibility and strong foot traffic; Includes a parking lot with 15 parking spaces; Architectural and engineering plans included for potential "by right" development of 10 residential units and 1 ground‑floor retail unit
