Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2290 Rte 22 Union, NJ 07083
    Back to Search
    Property profile & analytics

    2290 Rte 22, Union, NJ 07083

    View on Map
    • Neighborhood centers
    • 14,070 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 2290 Rte 22

    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional retail opportunity is located at 2290 Route 22 East in Union, New Jersey, within a vibrant strip center in Union County. The property offers a total of 14,070 square feet, with a single suite currently available for lease. This space boasts a flexible layout, accommodating tenants seeking between 1,500 and 3,000 contiguous square feet. The building features ample parking with 68 spaces available for customers and employees. The property's prime location on Route 22 East ensures high visibility and accessibility, making it an ideal location for a variety of retail businesses. The available space presents a unique chance to establish or expand a retail presence in a thriving commercial area. The property is classified as a multi-tenant retail strip center, offering a strong potential for synergy with neighboring businesses. The address is 2290 Route 22 East, Union, NJ 07083. This is a rare opportunity to secure a well-located retail space in a high-traffic area. The 3,000 square feet of vacant space is ready for immediate occupancy. Don't miss out on this chance to secure a prominent location for your business.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Union
    County
    Union
    State
    New Jersey
    Longitude
    -74.2902
    Latitude
    40.6905

    Comparable in this City

    • Value Estimation by Request
      11,815 SF

      2260 Rte 22

      Lifestyle centers
      2260 Rte 22, Union, NJ 07083
      View Details
    • Value Estimation by Request
      276,464 SF

      1701 Morris Ave

      Lifestyle centers
      1701 Morris Ave, Union, NJ 07083
      View Details
    • Value Estimation by Request
      35,962 SF

      2365 Rte

      Retail properties & Spaces
      2365 Rte, Union, NJ 07083
      View Details
    • Value Estimation by Request
      5,300 SF

      2550 Rte 22

      Retail properties & Spaces
      2550 Rte 22, Union, NJ 07083
      View Details
    • Value Estimation by Request
      279,010 SF

      1701 Morris Ave

      Retail properties & Spaces
      1701 Morris Ave, Union, NJ 07083
      View Details
    • Value Estimation by Request
      37,970 SF

      2700 Us-22

      Retail properties & Spaces
      2700 Us-22, Union, NJ 07083
      View Details

    Similar Nearby for Sale

    • $2,400,000
      0.06 Acres

      Mixed-Use Investment Opportunity in Union

      Mixed-use property with residential and commercial income potential.
      967 Stuyvesant Ave, Union, NJ 07083
      View Details
    • Contact for pricing

      Fully Leased Retail Center

      Located on Route 22 with national anchor tenants.
      2700 Us Highway 22 E, Union, NJ 07083
      View Details
    • Contact for pricing

      Prime Retail Investment Opportunity

      Two commercial retail spaces in Union's bustling downtown.
      1306 Stuyvesant Ave, Union, NJ 07083
      View Details
    • Contact for pricing

      Liquor License Included

      Commercial property with liquor license for sale.
      1200 Morris Ave, Union, NJ 07083
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,466 SF

      Former Restaurant Opportunity on Route 22

      Former restaurant space available on a high-traffic retail corridor.
      2317 Us Highway 22 Ctr, Union, NJ 07083
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail property available for lease.
      2319 S 22, Union, NJ 07083
      View Details
    • Contact for pricing
      5,100 SF

      Restaurant Space with Liquor License

      Freestanding restaurant space available for lease.
      2466 Us Highway 22 Ctr, Union, NJ 07083
      View Details
    • Contact for pricing

      West Branch Commons Retail Space

      Open-air shopping center on heavily trafficked Route 22.
      1701 Morris Ave, Union, NJ 07083
      View Details
    • Contact for pricing
      3,687 SF

      Retail Space Available For Lease

      Retail spaces available from 1,500 to 3,687 square feet.
      1230 Morris Ave, Union, NJ 07083
      View Details
    • Contact for pricing
      7,100 SF

      Retail Space Available For Lease

      7,100 square feet of retail space for lease.
      2151 Us Highway 22 Ctr, Union, NJ 07083
      View Details
    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.
    2290 Rte 22
    Union, NJ 07083
    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

    Thank You for Inquiry
    2290 Rte 22, Union, NJ, 07083
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!