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Union Ave Plaza - 21-29 Union Avenue, Somerville, NJ

Property Details

  • Price :

  • Square Feet :

  • Cap Rate :

  • $4,387,000

  • 20,810

  • 6.75%

  • NOI :

  • Acres :

  • $296,147

  • 1.61

  • Property Type :

  • Property Status :

  • Retail

  • Under Agreement

Investment Highlights

INVESTMENT HIGHLIGHTS

• 100% Occupied, +/- 20,810 SF Strip Center Located on Union Avenue in Somerville, Somerset County, New Jersey

• Anchored by the NJ Department of Motor Vehicles – Recent 5 Year Extension Showing Commitment to the Location –

Operating Here Since 1980s

• Service Based-Retail Tenants Catering to the Local Community

• Staggered Lease Expirations – Mitigating Landlord Risk

• Easy Access to Major Highways – Minutes From I-287, US-22 & 202

• Walking Distance to Robert Wood Johnson Hospital – Nationally Accredited 355-Bed Regional Medical Center

• Minutes From Downtown Somerville – Widely Recognized as One of New Jersey's Most Prosperous Up and Coming

Downtown Areas

• Solid Demographics: Over 123,000 With an Average Household Income of Over $153,000 Within 5 Miles of the Subject

Property

• Nearby National Tenants Include: Whole Foods, ShopRite, Macy's, Starbucks, Chipotle, Bank of America, KFC, Chase,

McDonald's, TD Bank, Wendy's & Wells Fargo

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