1441 Morris AveUnion, NJ 07083

Property Details for 1441 Morris Ave

Year built

1965

Property size (Sq ft)

6,000 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional retail investment opportunity presents a 6,000 square foot, single-story building in Union, New Jersey, currently 100% occupied by American Dental Center, a subsidiary of the large Dental Care Alliance (400+ locations). The property boasts a strong 7.75% cap rate and a substantial net operating income (NOI) of $210,679, with a current asking price of $2,719,439. Built in 1965, this strategically located convenience store/pharmacy/storefront sits on highly trafficked Morris Avenue, just off the Garden State Parkway, ensuring excellent visibility and accessibility. The lease features attractive 5% annual rent bumps, with the next increase scheduled for December 2024, providing a hedge against inflation and increasing cash flow. The tenant's long-term commitment (3.9 years remaining) and the inherent stability of the healthcare industry contribute to a low-maintenance, passive investment. The property benefits from robust demographics, with over 661,000 people within a 5-mile radius and average incomes exceeding $90,000. This presents a compelling opportunity to capitalize on the growth of the $430 billion global dental services market. The property's location offers easy access to New York City and benefits from over 25,000 vehicles per day passing by. This is a secure, high-return investment with minimal landlord responsibilities.

Location Insight

City

Union

County

Union

State

New Jersey

Latitude

40.6898

Longitude

-74.2475

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