For Sale
Union, NJ
Commercial Real Estate Market Trends & Data
$359
Avg asking sale price
$25
Avg asking lease rate
24,800 SF
Avg unit lease size
15,407 SF
Avg building size for sale
7.27%
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 | $349 | 7,816 SF | 13.93% |
| Hillside | $229 | 1,636 SF | 13.93% |
| Nearby Retail Markets | Avg Cost/SF | Typical Size |
|---|---|---|
| Union | $434 | 10,465 SF |
| Kenilworth | $1,360 | 11,229 SF |
| Vauxhall | $430 | 5,406 SF |
| Hillside | $225 | 9,550 SF |
| Roselle Park | $269 | 21,368 SF |
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
Average Price For Sale
↻ Updated MonthlyAverage Price For Lease
↻ Updated MonthlyNumber of Listings
↻ Updated MonthlyCap Rate
↻ Updated MonthlyHow Investors Evaluate Commercial Real Estate Markets
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 | $359 | 15,407 SF |
| Kenilworth | $1,360 | 15,152 SF |
| Vauxhall | $421 | 5,007 SF |
| Hillside | $244 | 21,999 SF |
| Roselle Park | $257 | 21,365 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.
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