Retail/Professional Building on Corner
1360 Stuyvesant Ave, Union, NJ 07083
- Added:
- Jan 16, 2025
- Days on Market:
- 495
- Last Refresh:
- May 26 at 11:06 am
Property Features for 1360 Stuyvesant Ave
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Commercial
- Rooms
- Basement
- Parking features
- Parking Lot
- Basement Y/N
- 1
- Standard status
- Pending
- Size
- 4,100 SF
- Lot size
- 0.25 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 16740
Utilities
- Heating system
- Baseboard, Forced Air, Hot Water (Heating)
- Cooling system
- Central Air, Multi Units
Building Details
- Year built
- 1953
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Carpet, Concrete, Laminate, Tile
- Building materials
- Block, Brick
- Roof type
- Flat, Rubber
- Architectural style
- Other
Listing agent BARBARA MULCAHY (908) 665-0600
Listing office RE/MAX INTEGRITY ADVANTAGE 398 SPRINGFIELD AVE. ., Berkeley Heights, NJ (908) 665-0600
Listing date Jan 16, 2025
MLS# 3941852
Listing URL
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Expansive 11,000 sq. ft. corner lot with private parking for 8+ cars.
- Two units (convertible to 3), one vacant and fully renovated.
- Long‑term tenant in one unit provides immediate income.
- Fully renovated vacant unit with new bathrooms, kitchenette, flooring, CAC, electric service, roof, and hot water heater.
- Full basement with 7 ft ceilings and French drain with sump pump for ample storage.
- 10 ft ceilings in both units create an open and spacious feel.
Overview
This is a well-maintained retail/professional building situated on an expansive 0.25-acre corner lot. The property includes private parking for 8+ cars. The building features two units, which can be converted back to three units as they were previously. One unit is currently vacant, suitable for an owner-occupier or a new tenant. The second unit is occupied by a long-term tenant, providing immediate income for investors or business owners. Both units feature 10 ft ceilings, creating an open and spacious environment. A full basement with 7 ft ceilings offers substantial storage space. The vacant unit has been fully renovated, including new bathrooms, a kitchenette, fresh paint, ceramic tile and laminate flooring, newer central air conditioning, electric service, a roof, and a new hot water heater. A built-in security system and a French drain with a sump pump in the basement enhance functionality. The property is located in Union Twp., NJ. With a total property size of 4,100 square feet, this property is suitable for store owners or entrepreneurs looking to own their own space while benefiting from rental income.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$697.0K
NOI $62,730 @ 9.00% cap · cautious / downside scenario
Moderate
$896.1K
NOI $62,730 @ 7.00% cap · market / base-case scenario
Aggressive
$1.25M
NOI $62,730 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $123.0k | $30.00 |
| − Vacancy | −$39.4k | −$9.60 |
| EGI | $83.6k | $20.40 |
| − OpEx | −$20.9k | −$5.10 |
| NOI | $62.7k | $15.30 |
4,100 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$896.1K
$784.1K – $1.05M
NOI $62,730 @ 7.0% cap · market cap 6.86%
Second Best
Retail
$836.0K
$731.5K – $975.3K
NOI $58,520 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$1.07M
$936.8K – $1.25M
NOI $74,941 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Union
- County
- Union
- State
- New Jersey
- Longitude
- -74.2632238
- Latitude
- 40.7031077
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Well-maintained retail/professional building with two units and parking.
Where is this retail space located?
The property is located at 1360 Stuyvesant Ave Union, NJ.
What is the asking price?
The asking price for this property is $915,000.
What are key features of this property?
This property features: Expansive 11,000 sq. ft. corner lot with private parking for 8+ cars.; Two units (convertible to 3), one vacant and fully renovated.; Long‑term tenant in one unit provides immediate income.
