6,000 SF Commercial
For Sale
$1,495,000
1415 Stuyvesant Ave, Union, NJ 07083
6,000 SF commercial building with parking on approximately 0.5 acres.
Property Size6,000 SF
Lot Size0.41 Acres
Price / SF$249.17
Days on Market143
Property Features for 1415 Stuyvesant Ave
General Information
Standard status
Active
Size
6,000 SF
Lot size
0.41 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$23,882
Building Details
Year Built
1970
Listing Agency:
RE/MAX FORTUNE PROPERTIES
(201) 816-8889
Listed By:
ROBERT LEVINTHAL
Source:
Corcoran
Added: Mar 27
Changed: Aug 16
Last Checked: Aug 16 at 5:46AM
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.
The property features a 6,000-square-foot commercial building situated on approximately half an acre. It has a large parking area and was previously used as an automotive shop. The property is located in a desirable area and may be suitable for a variety of commercial uses.
Key Highlights
- Prime commercial location.
- Large 6,000 sq ft building.
- Approximately 1/2 acre property size.
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
$85,640
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
5.73%
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%
$1,712,800
$1.7M
Cap Rate 7%
$1,223,429
$1.2M
Cap Rate 9%
$951,556
$951.6K
Market Conditions
NOI Build-Up for 6,000 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
$129.6K $21.60/SF
− Vacancy
−$7.3K −$1.21/SF
EGI
$122.3K $20.39/SF
− OpEx
−$36.7K −$6.12/SF
NOI
$85.6K $14.27/SF
Area
Union County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,712,800
Cap Rate 7%
$1,223,429
Cap Rate 9%
$951,556
Alternative Uses
Best Use
Retail
$1.22M
$1.07M – $1.43M
NOI $85,640 @ 7.0% cap · market cap 5.73%
Second Best
Industrial
$962.1K
$841.8K – $1.12M
NOI $67,345 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,670 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,599
Businesses Nearby
107k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Groceries 39%
Dining 16%
Beauty & Spa 1%
Stop & Shop
Groceries
42,314 visits/mo
0.2 miles
QuickChek
Shops & Services
13,590 visits/mo
0.1 miles
Bank of America
Shops & Services
7,800 visits/mo
0.2 miles
Chase Bank
Shops & Services
6,629 visits/mo
0.2 miles
Wells Fargo
Shops & Services
6,389 visits/mo
0.1 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - 6,000 SF commercial building with parking on approximately 0.5 acres.
Where is this auto shop located?
The property is located at 1415 Stuyvesant Ave Union, NJ.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Prime commercial location.; Large 6,000 sq ft building.; Approximately 1/2 acre property size.
