1441 Morris Ave Union, NJ 07083
- Retail properties
- 6,000 SF
Current Use by Public Records
- Retail properties
Property Details for 1441 Morris Ave
- Year built
- 1965
- Property size
- 6,000 SF
- Property type
- Retail properties
- Property subtype
- Drug stores
Description
This exceptional retail investment opportunity presents a 6,000 square foot, single-story building in Union, New Jersey, currently 100% occupied by American Dental Center, a subsidiary of the large Dental Care Alliance (400+ locations). The property boasts a strong 7.75% cap rate and a substantial net operating income (NOI) of $210,679, with a current asking price of $2,719,439. Built in 1965, this strategically located convenience store/pharmacy/storefront sits on highly trafficked Morris Avenue, just off the Garden State Parkway, ensuring excellent visibility and accessibility. The lease features attractive 5% annual rent bumps, with the next increase scheduled for December 2024, providing a hedge against inflation and increasing cash flow. The tenant's long-term commitment (3.9 years remaining) and the inherent stability of the healthcare industry contribute to a low-maintenance, passive investment. The property benefits from robust demographics, with over 661,000 people within a 5-mile radius and average incomes exceeding $90,000. This presents a compelling opportunity to capitalize on the growth of the $430 billion global dental services market. The property's location offers easy access to New York City and benefits from over 25,000 vehicles per day passing by. This is a secure, high-return investment with minimal landlord responsibilities.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Union
- County
- Union
- State
- New Jersey
- Longitude
- -74.2475
- Latitude
- 40.6898
