Automotive Shop with
For Sale
$1,495,000
1415 Stuyvesant Ave #1, Union, NJ 07083
Commercial automotive facility with substantial on-site parking and a flexible footprint for service-oriented operations.
Property Size6,000 SF
Lot Size0.50 Acres
Price / SF$249.17
Days on Market157
Property Features for 1415 Stuyvesant Ave #1
General Information
Standard status
Active
Size
6,000 SF
Total Parking Spaces
20
Lot size
0.50 Acres
Property subtype
Commercial
Zoning
comm
Building Details
Building Size
6,000 SF
Year Built
1970
Buildings
1
Stories
1
Units
1
Listing Agency:
Re/Max Fortune Properties
(201) 816-8889
Listed By:
Robert Levinthal
Source:
Betterhomerealestate
Added: Mar 27
Changed: Aug 29
Last Checked: Aug 29 at 3:04PM
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.
This automotive property includes a 6,000-square-foot building on approximately 0.5 acres of commercial land. The site offers substantial parking and was previously occupied by Lee Myles Transmission and Automotive shop operations. Built in 1970, the property is designated commercial zoning.
Located at 1415 Stuyvesant Ave #1 in Union Twp., New Jersey, the property provides a dedicated setting for automotive service use with building and parking areas situated on the same commercial parcel.
Located at 1415 Stuyvesant Ave #1 in Union Twp., New Jersey, the property provides a dedicated setting for automotive service use with building and parking areas situated on the same commercial parcel.
Key Highlights
- 6,000 SF building on approximately 0.5 acres
- Substantial parking area included with the property
- Previously occupied by Lee Myles Transmission and Automotive shop
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
844
Businesses Nearby
76k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 56%
Shops & Services 26%
Dining 19%
Stop & Shop
Groceries
42,314 visits/mo
0.5 miles
Dunkin' Donuts
Dining
11,225 visits/mo
0.1 miles
Chase Bank
Shops & Services
6,629 visits/mo
0.4 miles
7-Eleven
Shops & Services
6,228 visits/mo
0.2 miles
Santander Bank
Shops & Services
3,861 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
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Frequently Asked Questions
What type of property is this?
Auto shop - Commercial automotive facility with substantial on-site parking and a flexible footprint for service-oriented operations.
Where is this auto shop located?
The property is located at 1415 Stuyvesant Ave #1 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: 6,000 SF building on approximately 0.5 acres; Substantial parking area included with the property; Previously occupied by Lee Myles Transmission and Automotive shop
