Turnkey Retail Opportunity in
454 Chestnut St Union, NJ 07083
454 Chestnut St, Union, NJ, 07083
$2,699,000
Pending
For Sale
$2,699,000
Pending
Prime commercial property with existing retail infrastructure in Union, NJ.
Property Size6,188 SF
Lot Size0.66 Acres
Days on Market160
Property Features for 454 Chestnut St
General Information
- Standard status
- Pending
- Size
- 6,188 SF
- Lot size
- 0.66 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 2019
Listing agency
KELLER WILLIAMS REALTY
(908) 233-8502
Listed by
MICHAEL MARTINETTI · License #297275
Source
Corcoran
Added: Feb 11 Updated: Jul 6 at 10:26AM Checked: Jul 21 at 5:45AM
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 KELLER WILLIAMS REALTY
Investment Insights
Based on property information with market context.
Located on Chestnut Street in Union, NJ, this commercial property offers a retail opportunity with existing infrastructure. Formerly a liquor store, the main level features over 6,000 square feet of open retail space, a glass entry foyer, and two sets of doors. The layout includes counter space, refrigerated display units, a walk-in freezer, two bathrooms, and utility sinks. A rear loading dock, private parking lot, and shopping cart corral support customer convenience and logistics. A roller conveyor system connects the basement to the main floor. The 6,188-square-foot basement level provides storage space, a utility room, a private office, and a utility sink. This property is suited for retail, specialty food, beverage, or service-oriented businesses.
Key Highlights
- Fully built‑out 6,000+ sq ft retail space, formerly a liquor store, ready for immediate occupancy.
- Prime location on Chestnut Street in Union, NJ, offering high visibility in a strong commercial corridor.
- 6,188 sq ft basement with storage, office, and utility sink, connected to the main floor via a roller conveyor system.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $133.7k | $21.60 |
| − Vacancy | −$7.5k | −$1.21 |
| EGI | $126.2k | $20.39 |
| − OpEx | −$31.5k | −$5.10 |
| NOI | $94.6k | $15.29 |
6,188 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.35M
$1.18M – $1.58M
NOI $94,632 @ 7.0% cap · market cap 3.51%
Second Best
Retail
$1.26M
$1.10M – $1.47M
NOI $88,323 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$1.62M
$1.41M – $1.89M
NOI $113,107 @ 7.0% cap · market cap 4.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Grocery and convenience stores
Similar For Sale Nearby
Similar Off Market Nearby
- Seabra's Market — 1350 Galloping Hill Rd, Union, NJ 07083
- ACME Markets — 801 Kenilworth Blvd, Kenilworth, NJ 07033
FAQs
What type of property is this?
Grocery and convenience store - Prime commercial property with existing retail infrastructure in Union, NJ.
Where is this grocery and convenience store located?
The property is located at 454 Chestnut St Union, NJ.
What is the asking price?
The asking price for this property is $2,699,000.
What are key features of this property?
This property features: Fully built‑out 6,000+ sq ft retail space, formerly a liquor store, ready for immediate occupancy.; Prime location on Chestnut Street in Union, NJ, offering high visibility in a strong commercial corridor.; 6,188 sq ft basement with storage, office, and utility sink, connected to the main floor via a roller conveyor system.
