Turn-Key Office Building with
For Sale
$699,000
1400 Union Avenue, Union Beach, NJ 07735
Turn-key office suite on a corner lot with central air/forced heat, kitchen area, and an oversized garage/warehouse.
Property Size2,916 SF
Price / SF$239.71
Days on Market192
Property Features for 1400 Union Avenue
General Information
Standard status
Active
Size
2,916 SF
Property subtype
Commercial
Zoning
B-2
Additional Details
Highway Access
Yes
Office Units
6
Building Details
Year Built
1955
Listing Agency:
RE/MAX 1st. Advantage
(732) 827-5344
Listed By:
Robert Dekanski · License #232901
(833) 740-1234
Source:
Actionplusrealty
Added: Feb 13
Changed: Aug 23
Last Checked: Aug 24 at 7:03AM
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 1st. Advantage
Investment Insights
Based on property information with market context.
This turn-key office building is situated on a corner lot and configured for professional use, featuring six office spaces, a kitchenette, and two half bathrooms. Central air/forced heat is in place throughout, and the property also includes an oversized garage/warehouse for added functional flexibility. The space is presented with modern upgrades, supported by on-site parking in a private parking lot.
Located at 1400 Union Ave in Union Beach, NJ, the building is described as highly visible and benefiting from drive-by traffic. Public transit and major roads, including Route 36, are noted as providing access, along with nearby shopping and dining.
Zoned B-2, this property offers an office-forward layout with warehouse/garage space and practical parking for day-to-day operations.
Located at 1400 Union Ave in Union Beach, NJ, the building is described as highly visible and benefiting from drive-by traffic. Public transit and major roads, including Route 36, are noted as providing access, along with nearby shopping and dining.
Zoned B-2, this property offers an office-forward layout with warehouse/garage space and practical parking for day-to-day operations.
Key Highlights
- 2900 sq ft highly visible office space on a corner lot
- Zoned B‑2 with 6 office spaces, kitchenette, and 2 half baths
- Central air and forced heat
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
$47,831
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
6.84%
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%
$956,620
$956.6K
Cap Rate 7%
$683,300
$683.3K
Cap Rate 9%
$531,456
$531.5K
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
$94.8K $32.52/SF
− Vacancy
−$21.2K −$7.28/SF
EGI
$73.6K $25.24/SF
− OpEx
−$25.8K −$8.83/SF
NOI
$47.8K $16.40/SF
Area
Monmouth County, NJ
Vacancy
22.40%
Lease Rate
$32.52 /SF/Yr
Expense Ratio
35.00%
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%
$956,620
Cap Rate 7%
$683,300
Cap Rate 9%
$531,456
Alternative Uses
Best Use
Flex RnD
$683.3K
$597.9K – $797.2K
NOI $47,831 @ 7.0% cap · market cap 6.84%
Second Best
Office B
$637.4K
$557.7K – $743.6K
NOI $44,615 @ 7.0% cap · market cap 6.38%
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
Lease Details
6
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
Under-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Turn-key office suite on a corner lot with central air/forced heat, kitchen area, and an oversized garage/warehouse.
Where is this flex space 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: 2900 sq ft highly visible office space on a corner lot; Zoned B‑2 with 6 office spaces, kitchenette, and 2 half baths; Central air and forced heat
