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Property profile & analytics
FOR SALE
Commercial real estate
241 Union Ave Bound Brook, NJ 08805
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US59-1679357
For Sale
1 / 9
$995,000
241 Union Ave, Bound Brook, NJ 08805
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1960
Construction
CONCRETE BLOCKS
Lot
0.46 ac (20,000 SF)
Zoning code
B1
APN
04 00075-0000-00017
UPID
US59-1679357
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Ceder Grove LLC · 6 yrs held
Ceder Grove LLC
since 2020
5 recorded transactions
Zoning & alternative use
B1 · Bound Brook, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bound Brook submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bound Brook submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$13,062
Tax year 2022
Assessed value
$575,000
Assessed 2023
Previous assessed
$525,000
+9.5% YoY
Effective rate
2.27%
On assessed value
Assessed land
$345,000
Assessed improvement
$230,000
Land market value
$345,000
Improvement market value
$230,000
Total market value
$575,000
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
1960
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Units
1
Lot
0.46 ac (20,000 SF)
Zoning code
B1
APN
04 00075-0000-00017
UPID
US59-1679357
Jurisdiction
SOMERSET
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
B1 · Bound Brook, NJ
Zoning B1 · permitted uses
B1 · Bound Brook, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bound Brook. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1960
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Units
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Ceder Grove LLC
Entity
Mailing address
241 W UN AVE, BOUND BROOK, NJ 08805-1334
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2020
—
Ceder Grove LLC
Ceder Grove LLC
Correction Deed
related
$272,500 · Kearny Bk
Apr 5, 2019
$218,000
Ceder Grove LLC
Kearny Bk
Grant Deed
$218,000 · Kearny Bk
Mar 28, 2019
$522,500
Cecar Grove LLC
Jwb LLC
Deed
$272,500 · Kearny Bank
—
—
Ceder Grove LLC
—
Deed Of Trust
related
$226,000 · Miscellaneous Govt Agcy
—
—
Ceder Grove LLC
—
Deed Of Trust
related
$272,500 · Kearny Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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