Union, NJ
Commercial Real Estate Market Trends & Data

$376 Avg asking sale price
$198 Avg asking lease rate
26,337 SF Avg unit lease size
14,471 SF Avg building size for sale
7.10% Average cap rate

Union's Demographic Profile

Union has 21,257 households and a median income of $107,240, providing context for rent absorption and tenant demand across retail and multifamily assets. A -1% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 61,031
# Households 21,257
Median age 41
Median household income $107,240
Avg household size 3.0
Renter-occupied housing units 6,572
5-year population change -1%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Union Township, NJ

↻ Updated Monthly

{{marketTabDescriptions[activeMarketTab]}}

Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Union $357 8,283 SF 13.93%
Hillside $322 1,636 SF 13.93%
Nearby Retail Markets Avg Cost/SF Typical Size
Union $436 10,525 SF
Kenilworth $1,360 11,229 SF
Vauxhall $345 7,193 SF
Hillside $225 9,550 SF
Roselle Park $269 21,368 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Union $314 8,209 SF 7.20%
Irvington $257 6,800 SF 7.20%
Maplewood $365 18,267 SF 7.20%
Roselle $248 7,499 SF 6.97%
Cranford $295 17,576 SF 6.01%

Commercial Properties For Sale in Union

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

New Mixed-Use Asset | Multifamily & Retail

Maplewood, NJ 07040

  • 16,000 SF Multifamily
  • 5.59% Cap Rate
  • $5,700,000
For Sale

472 E Westfield Ave

Roselle Park, NJ 07204

  • 16,854 SF Flex Building
  • $3,250,000
For Sale

1160 E Grand St

Elizabeth, NJ 07201

  • 5,000 SF Retail Building
  • 5.98% Cap Rate
  • $2,350,000
For Sale

80 Morris Ave

Springfield, NJ 07081

  • 8,028 SF Office Building
  • $1,800,000
For Sale

Chancellor Ave Used Car Dealership

Irvington, NJ 07111

  • 2,500 SF Retail Building
  • $600,000
For Sale

Five Unit Retail Building for Sale

Union Township, NJ 07083

  • 3,970 SF Retail Building
  • $1,450,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

How Investors Evaluate Commercial Real Estate Markets

Where Multifamily Asking Prices Are Rising and Falling in 2026
Where Multifamily Asking Prices Are Rising and Falling in 2026
LoopNet listing data from November 2025 through March 2026 reveals a supply-driven split in multifamily asking prices across U.S. markets, and what it means for investors deciding where to buy.
Online Auctions vs. Traditional Sales
Online Auctions vs. Traditional Sales
Learn how you can strategically use the two transaction methods to achieve stronger outcomes, whether that's a faster deal, maximized sales price, or a low risk of fallouts.
What Are Leasehold Improvements?
What Are Leasehold Improvements?
A complete guide to leasehold improvements, including what qualifies, who owns them, how they affect taxes, and how to maximize their value.
Straight-Line Depreciation in Commercial Real Estate
Straight-Line Depreciation in Commercial Real Estate
Understand how straight-line depreciation works, when to use it, and how it affects your after-tax returns across every stage of ownership.
Small vs. Large Multifamily Real Estate Investing
Small vs. Large Multifamily Real Estate Investing
Compare financing, cash flow, risk, and exit options so you can choose the right property size for your goals.
How to Buy a Duplex
How to Buy a Duplex
Breaking down every stage of buying a duplex, from budgeting and financing to agent selection and market analysis, ensuring you make an informed investment decision.
Spec Suites: A Powerful Tool in the Battle To Fill Office Space
Spec Suites: A Powerful Tool in the Battle To Fill Office Space
New Space, Quick Occupancy, No Construction
Force Majeure Clause
Force Majeure Clause
Understand how force majeure clauses work in commercial real estate leases, including what they cover, when they apply, and how to draft them to manage risk.

Nearby Commercial Markets

Comparing nearby markets helps investors see whether Union pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Union $376 14,471 SF
Kenilworth $1,360 15,152 SF
Vauxhall $421 5,007 SF
Hillside $229 34,631 SF
Roselle Park $252 21,018 SF

Regional Demographic Comparison

This comparison places Union alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Union or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Union 61,031 21,257 41 $107,240 3 6,572 -1%
Kenilworth 7,662 2,649 43 $108,505 3 641 -2%
Vauxhall 3,348 1,147 40 $76,680 3 484 -3%
Hillside 20,531 6,802 41 $87,918 3 2,259 -4%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Union Township, NJ and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Union

View All Commercial Real Estate For Sale in Union
Is Union a good market for a first-time commercial real estate investor?

Union offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Union?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Union. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Union?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Union. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Union compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Union. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Union acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Union, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

Nearby Cities
Commercial Market Reports