Turnkey Retail Opportunity in
For Sale
$2,699,000
Pending
454 Chestnut St, Union, NJ 07083
Prime commercial property with existing retail infrastructure in Union, NJ.
Property Size6,188 SF
Days on Market290
Property Features for 454 Chestnut St
General Information
Standard status
Pending
Size
6,188 SF
Property subtype
Commercial
Listing Agency:
KELLER WILLIAMS REALTY
Listed By:
MICHAEL MARTINETTI 908-967-1889 · License #297275
(908) 233-8502
Source:
Brentsellsnj
Added: Dec 19, 2025
Changed: Oct 1
Last Checked: Oct 5 at 6:55PM
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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,632
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,892,640
$1.9M
Cap Rate 7%
$1,351,886
$1.4M
Cap Rate 9%
$1,051,467
$1.1M
Market Conditions
NOI Build-Up for 6,188 SF
Gross rent
$133.7K $21.60/SF
− Vacancy
−$7.5K −$1.21/SF
EGI
$126.2K $20.39/SF
− OpEx
−$31.5K −$5.10/SF
NOI
$94.6K $15.29/SF
Area
Union County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,892,640
Cap Rate 7%
$1,351,886
Cap Rate 9%
$1,051,467
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 authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
115k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Dining 32%
Groceries 23%
Beauty & Spa 3%
Seabra's Market
Groceries
27,031 visits/mo
0.5 miles
Dollar Tree
Shops & Services
16,555 visits/mo
0.4 miles
7-Eleven
Shops & Services
9,151 visits/mo
0.5 miles
Dunkin' Donuts
Dining
9,140 visits/mo
0.5 miles
Bank of America
Shops & Services
8,929 visits/mo
0.3 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
- Seabra's Market — 1350 Galloping Hill Rd, Union, NJ 07083
- ACME Markets — 801 Kenilworth Blvd, Kenilworth, NJ 07033
Frequently Asked Questions
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.
