Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1561 Morris Ave Union, NJ

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    1000 SF retail/office space suitable for salon or office.

    Type:RETAIL
    Property size:
    1,000 SF
    Lot size:
    0.62 Acres
    Added:
    Jul 31, 2025
    Days on Market:
    272
    Last Refresh:
    Apr 5 at 9:35 pm

    Property Features for 1561 Morris Ave

    General Information

    Standard status
    Active
    Size
    1,000 SF
    Lot size
    0.62 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 1561 Morris Ave Contact us

    We can help!

    Listing Contact
    Jeannette Melillo
    Jeannette Melillo

    Listing agent Jeannette Melillo

    Listing office Newmark & Associates, Inc.

    Listing date Jul 31, 2025

    Source Moodyscre

    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 Newmark & Associates, Inc.

    Overview

    Retail/Office Space for Rent

    This rental property offers approximately 1000 square feet of retail or office space. The layout includes a large window-lined front retail area, one office, and one restroom. Water hookups are available. This space is ideally suited for a hair salon, nail salon, or professional office.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Union
    County
    Union
    State
    New Jersey
    Longitude
    -74.2527
    Latitude
    40.6916

    Nearby Similar for Lease

    • $3,000/Mo

      Union Twp. Office Space Available

      Move-in ready office space in Union Twp., NJ for lease.
      936 Stuyvesant Ave, Union Twp., NJ 07083-6991
      View Details
    • $900/Mo

      Union Twp. Office Space

      Office suites for lease with assigned parking included.
      934 Stuyvesant Ave, Union Twp., NJ 07083-6906
      View Details
    • $900/Mo

      Union Twp. Office Space Available

      Office space for lease in mixed-use property with parking.
      934 Stuyvesant Ave, Union Twp., NJ 07083-6906
      View Details
    • $500/Mo

      Office Space in Union Twp.

      Office space for lease with assigned parking included.
      934 Stuyvesant Ave, Union Twp., NJ 07083-6906
      View Details
    • $800/Mo

      Office Space For Lease

      Office suites for lease with assigned parking included.
      934 Stuyvesant Ave, Union Twp., NJ 07083-6906
      View Details
    • $1,000/Mo

      Union Twp. Office Space Available

      Professional office suites for lease in a well-maintained building.
      1460 Morris Ave, Union Twp., NJ 07083-3313
      View Details
    • $6,000/Mo

      Refurbished Flex-Warehouse Unit in Union

      Newly refurbished flex-warehouse unit with high ceilings and drive-in doors.
      515 Lehigh Ave, Union Twp., NJ 07083
      View Details
    • Sponsored
      Contact for pricing

      NJ, Hampton - Frontage Rd

      53 Frontage Rd 1Srt, Unit HAMPTON, Union, NJ 08827
      View Details
    • $2,500/Mo

      Updated Office Space Available

      Bright, updated 800 sq. ft. office space for rent.
      1485 Morris Ave, Union Twp., NJ 07083
      View Details
    • $3,000/Mo

      Move-in Ready Office Space

      First floor office space with high visibility and parking.
      936 Stuyvesant Ave, Union Twp., NJ 07083
      View Details
    • $3,000/Mo

      Retail Space on Stuyvesant Avenue

      Retail space available for rent on Stuyvesant Avenue.
      936 Stuyvesant Ave, Union Twp., NJ 07083
      View Details
    • $2,000/Mo

      Accessible Retail/Office Space Available

      Handicap accessible retail/office space with off-street parking.
      1879 Morris Ave, Union Twp., NJ 07083
      View Details

    FAQs

    What type of property is this?
    Retail space - 1000 SF retail/office space suitable for salon or office.
    Where is this retail space located?
    The property is located at 1561 Morris Ave Union, NJ.
    What are key features of this property?
    This property features: Ideal for hair salon, nail salon, or professional office; Large window lined front retail space; Approximately 1000 sf
    (862) 227-6464 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jeannette Melillo
    Jeannette Melillo
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!