Corner Office Building with
For Sale
$699,000
1400 Union Avenue, Union Beach, NJ 07735
Commercial Sale, Union Beach, NJ
Property Size2,916 SF
Lot Size0.22 Acres
Price / SF$239.71
Days on Market163
Property Features for 1400 Union Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Office, Retail, Professional, Multi-Use, Commercial
Parking
14
Parking features
Parking Lot
Basement
Crawl Space
Lot features
Level, Curbing, Sidewalks, Corner Lot
Directions
Route 36 to Union Ave.
Standard status
Active
APN
50-00178-0000-00002
Size
2,916 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7934
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
kitchenette
Building Details
Year built
1955
Floors in Building
1
Flooring type
Tile
Building materials
Concrete, Stucco
Roof type
Flat
Listing Agency:
RE/MAX 1st. Advantage
(732) 827-5344
Listed By:
Robert Dekanski · License #232901
(800) 691-0485
Added: Mar 26
Changed: Sep 4
Last Checked: Sep 4 at 9:06AM
MLS# 22607974
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,916-square-foot office building occupies a 0.22-acre corner lot in Union Beach. The interior includes six office spaces, a kitchenette, and two half baths, with tile flooring and concrete and stucco construction. Central air conditioning and forced-air heat serve the building, while an oversized garage provides additional warehouse space. A private parking lot is located on the property.
The property is served by public water and public sewer and has a flat roof. Its location provides access to public transit, Route 36, shopping, and dining. Built in 1955, the building is zoned B-2 and combines office areas with supporting storage and parking improvements.
The property is served by public water and public sewer and has a flat roof. Its location provides access to public transit, Route 36, shopping, and dining. Built in 1955, the building is zoned B-2 and combines office areas with supporting storage and parking improvements.
Key Highlights
- 2,916‑square‑foot office building on a 0.22‑acre corner lot
- Six office spaces with kitchenette and two half baths
- Oversized garage/warehouse included with the building
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
$44,615
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
6.38%
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%
$892,300
$892.3K
Cap Rate 7%
$637,357
$637.4K
Cap Rate 9%
$495,722
$495.7K
Market Conditions
NOI Build-Up for 2,916 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
$87.5K $30.00/SF
− Vacancy
−$28.0K −$9.60/SF
EGI
$59.5K $20.40/SF
− OpEx
−$14.9K −$5.10/SF
NOI
$44.6K $15.30/SF
Area
Monmouth 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%
$892,300
Cap Rate 7%
$637,357
Cap Rate 9%
$495,722
Alternative Uses
Best Use
Office B
$637.4K
$557.7K – $743.6K
NOI $44,615 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$761.4K
$666.3K – $888.3K
NOI $53,300 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
Explore this area
Business Placement
Demographics for 07735, NJ
18,652
Population
8,411
Households
2.2
Avg Household Size
42
Median Age
33%
College-Educated
92%
High-School Grad
4.9 sq mi
ZIP Area
3,807
Density / Sq Mi
$98,760
Median Household Income
$57,988
Median Earnings
$1,520
Median Rent
$384,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - B-2-zoned office property with six offices, private parking, and convenient access to Route 36 and public transit.
Where is this office building located?
The property is located at 1400 Union Avenue Union Beach, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 2,916‑square‑foot office building on a 0.22‑acre corner lot; Six office spaces with kitchenette and two half baths; Oversized garage/warehouse included with the building
