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

    454 Chestnut St Union, NJ 7083

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,699,000

    Prime commercial property with existing retail infrastructure in Union, NJ.

    Type:Commercial
    Property size:
    6,188 SF
    Lot size:
    0.66 Acres
    Added:
    Feb 11, 2026
    Days on Market:
    49
    Last Refresh:
    Mar 26 at 1:13 am

    Property Features for 454 Chestnut St

    General Information

    Standard status
    Active
    Size
    6,188 SF
    Lot size
    0.66 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    2019

    We can help!

    Listing Contact
    MICHAEL MARTINETTI

    Listing agent MICHAEL MARTINETTI

    Listing office KELLER WILLIAMS REALTY

    Listing date Feb 11, 2026

    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 KELLER WILLIAMS REALTY

    Overview

    Turnkey Retail Opportunity in Union

    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.
    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

    • Seabra's Market — 1350 Galloping Hill Rd, Union, NJ 07083
    • ACME Markets — 801 Kenilworth Blvd, Kenilworth, NJ 07033

    Location Insight

    • Map
    • Local Demand
    City
    Union
    County
    Union
    State
    New Jersey
    Longitude
    -74.2689
    Latitude
    40.6824

    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
    • $1,650

      Updated Commercial Space on Burnet

      Newly updated commercial unit in Union Twp 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
    • $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
    • $1,500,000
      1,954 SF

      Union Twp. Religious Facility

      Well-maintained religious property with sanctuary, office, kitchen, and parking.
      1608 Porter Rd, Union Twp., NJ 07083-4322
      View Details
    • $950,000

      Spacious Duplex in Union Twp.

      Large side-by-side duplex with updated features and convenient location.
      159 Wyoming Ave, Union Twp., NJ 07083-8848
      View Details
    • $829,000

      Updated Multi-Family Investment Opportunity

      Renovated duplex in Union Twp. offers income potential.
      346 Tucker Ave, Union Twp., NJ 07083-8916
      View Details
    • $2,400,000

      Mixed-Use Investment Opportunity in Union

      Mixed-use property with residential and commercial income potential.
      967 Stuyvesant Ave, Union Twp., NJ 07083-6909
      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
    • $1,495,000
      6,000 SF

      6,000 SF Commercial Building

      6,000 SF commercial building with parking on approximately 0.5 acres.
      1415 Stuyvesant Ave, Union Twp., NJ 07083
      View Details

    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.
    (908) 233-8502
    We can help!
    Listing Contact
    MICHAEL MARTINETTI
    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!