Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    591 Un Ave Hillside, NJ 07205-1015
    Back to Search
    Property profile & analytics

    591 Un Ave, Hillside, NJ 07205-1015

    View on Map
    • Commercial real estate
    • 145 SF
    • 1.45 lot acres
    Off-Market
    Last Sale Jan 13, 2025
    $35,900,000
    Property ID
    US59-1464708
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 591 Un Ave

    Year built
    2019
    Lot size
    1.45 lot acres
    Zone code
    HI
    Property type
    Commercial real estate
    APN
    07 00106-0000-00001- 01
    APU
    70010600000000101

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 13, 2025 $35,900,000 Smst 591 N Union Ave LLC North Union Hillside Owner LLC Bargain & Sale Deed —
    Nov 1, 2021 $44,750,000 Rxr 591 North Union Hillside Owner Uspf Vi Hillside Subsidiary LP Deed $75M · Invesco Cmi Investments LP
    Nov 1, 2021 — Rxr 591 North Union Hillside Owner — Deed · related $75M · Invesco Cmi Investments LP
    Sep 14, 2018 $6,885,000 Uspf Vi Hillside Subsidiary LP Hillside Union LLC Grant Deed $15.7M · Bank Of The Ozarks
    Jun 12, 2018 $1,500,000 Hillside Union LLC 1386 Liberty LLC Grant Deed $1.5M · 591 N Union Funding LP
    Jan 28, 2016 $4,600 1386 Liberty LLC New Jersey Turnpike Authority Grant Deed —
    Nov 29, 2010 $330,000 1386 Liberty LLC Bank Of America NA Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hillside
    County
    Union
    State
    New Jersey
    Longitude
    -74.244
    Latitude
    40.7093
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $451,427
    $286,200
    $5,400,000
    $5,686,200
    -
    $286,200
    $5,400,000
    $5,686,200

    Comparable in this City

    • Value Estimation by Request
      0.07 Acres

      351 Hillside Ave

      COMMERCIAL (GENERAL)
      351 Hillside Ave, Hillside, NJ 07205-1337
      View Details
    • Value Estimation by Request
      1.58 Acres

      399 Us Hwy 22

      COMMERCIAL (GENERAL)
      399 Us Hwy 22, Hillside, NJ 07205-2012
      View Details
    • Value Estimation
      $540,000
      3,812 SF

      307 Hillside Ave

      COMMERCIAL (GENERAL)
      307 Hillside Ave, Hillside, NJ 07205-1328
      View Details
    • Value Estimation by Request

      Rte 22

      COMMERCIAL (GENERAL)
      Rte 22, Hillside, NJ 07205
      View Details
    • Value Estimation by Request

      Rte 22

      COMMERCIAL (GENERAL)
      Rte 22, Hillside, NJ 07205
      View Details
    • Value Estimation by Request

      Broad St

      COMMERCIAL (GENERAL)
      Broad St, Hillside, NJ 07205
      View Details

    Similar Nearby for Sale

    • $850,000

      Hillside Investment Property For Sale

      Commercial property with four tenants, generating $7,500 monthly income.
      1455 Liberty Ave, Hillside, NJ 07205
      View Details
    • $599,000
      Pending

      Two-Family Home with Bonus Space

      Two-story duplex with bonus space, ideal for owners or investors.
      1602 Bayview Ave, Hillside, NJ 07205
      View Details
    • Contact for pricing
      1,200 SF

      Well-Maintained Brick Two-Family Property

      Two-family property with updated units and finished basements.
      1570 Clinton Pl, Hillside, NJ 07205
      View Details
    • Contact for pricing
      72,000 SF

      72,000 SF Warehouse Space

      72,000 SF warehouse with office space for sale.
      400 Winans Ave, Hillside, NJ 07205
      View Details
    • Contact for pricing

      20,000 SF Warehouse with Cranes

      20,000 SF warehouse with office space and cranes.
      265 Pennsylvania Ave, Hillside, NJ 07205
      View Details

    Similar Nearby for Lease

    • $4,000 /Mo

      Well-Maintained Commercial Space Available

      Commercial space for rent in a highly desirable location.
      476 Bloy St, Hillside, NJ 07205
      View Details
    • Contact for pricing
      4,750 SF

      Retail Space Near Major Roadways

      Retail space available near Hillside Municipal and major roadways.
      1398 Liberty Ave, Hillside, NJ 07205
      View Details
    • Contact for pricing

      Hillside Commercial Space Available

      Commercial space for rent in Hillside, New Jersey.
      1409-1415 Chestnut Ave, Hillside, NJ 07205
      View Details
    • $1,600 /Mo

      Updated One-Bedroom Apartment Available

      Newly updated one-bedroom apartment available for immediate occupancy.
      310 Crann St, Hillside, NJ 07205
      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.
    591 Un Ave
    Hillside, NJ 07205-1015
    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
    591 Un Ave, Hillside, NJ, 07205
    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!