Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Union Retail Property For Sale Title is generated by Realmo AI

    1774 Burnet, Union, NJ 07083

    View on Map
    Claim this Listing
    For Sale
    $4,080,000

    Retail property in a busy Union district, built in 1972.

    Added:
    Apr 24, 2025
    Days on Market:
    408
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 1774 Burnet

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    HOWARD JOH

    Listing agent HOWARD JOH

    Listing office HOWARD REALTY

    Listing date Apr 24, 2025

    Source Corcoran

    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 HOWARD REALTY

    HighLights

    • Located in a busy district of Union.
    • Includes a Deli.
    • Includes a Liquor Store.
    • Includes a Chinese Take‑out.
    • Building is updated periodically.
    • Constructed in 1972.

    Overview

    Located in a busy district of Union, this retail property was constructed in 1972 and has been updated periodically. The property currently houses a deli, a liquor store, and a Chinese take-out restaurant. Further details are available upon request.
    Property Profile Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

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

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

    Similar Places Nearby

    • Target Grocery — 2235 Springfield Ave, Vauxhall, NJ 07088
    • Quality Brazilian Market — 2595 Vauxhall Rd, Union, NJ 07083

    Location Insight

    • Map
    • Local Demand
    City
    Union
    County
    Union
    State
    New Jersey
    Longitude
    -74.2687
    Latitude
    40.7157

    Nearby Similar for Sale

    • $2,699,000
      6,188 SF

      Turnkey Retail Opportunity in Union

      Prime commercial property with existing retail infrastructure in Union, NJ.
      454 Chestnut St, Union Twp., NJ 07083-9306
      View Details
    • $1,500,000
      1,954 SF

      Religious Facility with Sanctuary

      Well-designed sanctuary and administration space with parking for approximately 25 vehicles, ideal for a growing congregation.
      1608 Porter Rd, Union Twp., NJ 07083-4322
      View Details
    • $1,049,000
      3,500 SF

      Renovated Two-Family Home in Union

      Spacious, renovated two-family home with modern updates and flexible living.
      859 Dewey St, Union Twp., NJ 07083-6824
      View Details
    • $699,000

      Two-Family Home with Finished Basement

      A two-unit residential income property with a finished basement, offering separate living spaces and flexible owner-occupant options.
      304 Concord Avenue, Union Twp, NJ 07083
      View Details
    • $900,000

      Union Twp. Multi-Family Home

      Spacious two-family home in Union Twp., ideal for investment.
      1029 Gifford Ct, Union Twp., NJ 07083-6801
      View Details
    • $699,000

      Two-Story Multifamily Duplex

      Two two-story units for residential income ownership or investment in Union Township, NJ.
      304 Concord Ave, Union Twp., NJ 07083-4219
      View Details
    • $915,000
      4,100 SF

      Retail/Professional Building on Corner Lot

      Well-maintained retail/professional building with two units and parking.
      1360 Stuyvesant Ave, Union Twp., NJ 07083-5383
      View Details
    • $1,049,000

      Renovated Two-Family Home in Union

      Turnkey investment opportunity with high-end residential comfort.
      1016 Gifford Ct, Union Twp., NJ 07083-6801
      View Details
    • $1,250,000
      2,800 SF

      Prime Union Commercial Property For Sale

      Iconic property in Union's thriving Downtown Transition Zone.
      1307 Stuyvesant Ave, Union Twp., NJ 07083
      View Details
    • $1,650
      650 SF

      Updated Commercial Space on Burnet

      Newly updated 650sf commercial unit with excellent visibility.
      1300 Burnet Avenue, Union Twp, NJ 07083
      View Details
    • $849,000

      Renovated Duplex in Union Township

      Meticulously renovated duplex, perfect for living or investment.
      1066-1068 W Chestnut St, Union Twp., NJ 07083-6764
      View Details
    • $2,699,000
      6,188 SF

      Turnkey Retail Opportunity in Union

      Prime commercial property with existing retail infrastructure in Union, NJ.
      454 Chestnut St, Union Twp., NJ 07083
      View Details

    FAQs

    What type of property is this?
    Grocery and convenience store - Retail property in a busy Union district, built in 1972.
    Where is this grocery and convenience store located?
    The property is located at 1774 Burnet Union, NJ.
    What is the asking price?
    The asking price for this property is $4,080,000.
    What are key features of this property?
    This property features: Located in a busy district of Union.; Includes a Deli.; Includes a Liquor Store.
    We can help!
    Listing Contact
    HOWARD JOH
    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

    Thank You for Inquiry
    1774 Burnet, Union, NJ 07083
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!