High-Visibility Owner-User
For Sale
$1,675,000
454460 454-460 W Union Ave, Bound Brook, NJ 08805
Owner-occupied storefront in B-1 General Business District, delivered vacant, with monument signage and multi-zone HVAC.
Property Size6,448 SF
Price / SF$259.77
Days on Market49
Property Features for 454460 454-460 W Union Ave
General Information
Standard status
Active
Size
6,448 SF
Building Details
Year Built
1968
Listing Agency:
RE/MAX PINNACLE
Listed By:
STEWART DANIELS · License #0895636
(908) 306-0061
Source:
Goldstandardrealty
Added: Jul 23
Changed: Sep 8
Last Checked: Sep 8 at 4:47AM
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 RE/MAX PINNACLE
Investment Insights
Based on property information with market context.
Offered for sale is a high-visibility owner-user commercial property in the Borough’s B-1 General Business District. The building is currently owner-occupied and will be delivered vacant at closing, supporting immediate occupancy for an owner, operator, or end-user. The property includes monument signage and is equipped with a fire alarm system and multi-zone HVAC for operational flexibility. Capital improvements completed in 2014 included structural upgrades with metal I-beam construction.
The property is positioned along Route 28 (W Union Ave), a primary commercial corridor, with strong visibility to both eastbound and westbound traffic. It is located near downtown Bound Brook and established businesses, with access to I-287 and Route 22 for regional connectivity throughout Somerset County and Central New Jersey. The Bound Brook NJ Transit rail station is nearby, offering direct service to Newark with connections to NYC.
B-1 zoning permits a wide range of commercial, service, institutional, and cultural uses, including retail, professional and medical offices, personal and business services, hospitality, fitness and recreational facilities, cultural venues, educational uses, and houses of worship, along with customary accessory uses.
The property is positioned along Route 28 (W Union Ave), a primary commercial corridor, with strong visibility to both eastbound and westbound traffic. It is located near downtown Bound Brook and established businesses, with access to I-287 and Route 22 for regional connectivity throughout Somerset County and Central New Jersey. The Bound Brook NJ Transit rail station is nearby, offering direct service to Newark with connections to NYC.
B-1 zoning permits a wide range of commercial, service, institutional, and cultural uses, including retail, professional and medical offices, personal and business services, hospitality, fitness and recreational facilities, cultural venues, educational uses, and houses of worship, along with customary accessory uses.
Key Highlights
- Owner‑occupied commercial property on Route 28 (W Union Ave) in the Borough’s B‑1 General Business District
- Delivered vacant at closing for immediate occupancy by an owner‑user, operator, or end‑user
- Monument signage and strong visibility to eastbound and westbound traffic along Route 28
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$92,034
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,840,680
$1.8M
Cap Rate 7%
$1,314,771
$1.3M
Cap Rate 9%
$1,022,600
$1.0M
Market Conditions
NOI Build-Up for 6,448 SF
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.
Gross rent
$139.3K $21.60/SF
− Vacancy
−$7.8K −$1.21/SF
EGI
$131.5K $20.39/SF
− OpEx
−$39.4K −$6.12/SF
NOI
$92.0K $14.27/SF
Area
Somerset County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,840,680
Cap Rate 7%
$1,314,771
Cap Rate 9%
$1,022,600
Alternative Uses
Best Use
Retail
$1.31M
$1.15M – $1.53M
NOI $92,034 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,859 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
691k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 40%
Apparel 15%
Groceries 15%
Dining 12%
Costco Wholesale
Superstores
139,864 visits/mo
0.5 miles
Target
Superstores
138,250 visits/mo
0.3 miles
Marshalls
Apparel
68,118 visits/mo
0.5 miles
The Home Depot
Home Improvements & Furnishings
59,806 visits/mo
0.3 miles
Trader Joe's
Groceries
51,964 visits/mo
0.4 miles
Demographics for 08805, NJ
13,948
Population
5,524
Households
2.5
Avg Household Size
37
Median Age
33%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
4,810
Density / Sq Mi
$84,201
Median Household Income
$41,874
Median Earnings
$1,859
Median Rent
$393,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Owner-occupied storefront in B-1 General Business District, delivered vacant, with monument signage and multi-zone HVAC.
Where is this storefront property located?
The property is located at 454460 454-460 W Union Ave Bound Brook, NJ.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: Owner‑occupied commercial property on Route 28 (W Union Ave) in the Borough’s B‑1 General Business District; Delivered vacant at closing for immediate occupancy by an owner‑user, operator, or end‑user; Monument signage and strong visibility to eastbound and westbound traffic along Route 28
