21-29 Union Ave | Somerville, NJ 08876
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21-29 Union Ave
Somerville, NJ 08876
DMV Anchored, Neighborhood Retail · Retail Property For Sale
Investment Highlights
- Fully occupied, +/-20,866-square-foot retail center with quick access to US Hwy 22 and I-287.
- The property has be anchored by the NJ Department of Motor Vehicles since the 1980s.
- Nearby tenants include Macy’s, Starbucks, Chipotle, Bank of America, KFC, Chase, McDonald’s, and Wendy’s.
- Union Avenue Plaza offers staggered lease expirations, mitigating tenant retention and landlord/ownership risks.
- Located minutes from Downtown Somerville, which is widely considered one of New Jersey’s up-and-coming areas.
PROPERTY FACTS
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
20,866 SF
Building Class
C
Year Built
1970
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.30
Lot Size
1.61 AC
Zoning
N/Av
Parking
100 Spaces (4.79 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,447,500 | |
| Land Assessment | $889,700 | Total Assessment | $2,337,200 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$889,700
Improvements Assessment
$1,447,500
Total Assessment
$2,337,200
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