1478 Morris AveUnion, NJ 07083

  • Other commercial real estate
  • 0.20 AC
For Sale
$1,749,000 View listing

Property Details for 1478 Morris Ave

Construction
BRICK
Lot size
0.20 AC
Property type
Other commercial real estate
APN
19 01306-0000-00022
APU
1901306000000022

Description

This exceptional 5,400 square foot medical office building in Union, New Jersey, is available for $1,749,000. Located on a high-traffic corner at 1478 Morris Ave, 07083, this two-story building boasts a prime location with excellent visibility. A recent, complete gut renovation included a waterproofed foundation, new roof, state-of-the-art HVAC systems (two units and a rooftop unit), upgraded plumbing (including new gas lines and water heater), new electrical system with updated wiring and ceiling light fixtures, new interior walls, modern flooring throughout, and new windows and doors. The renovation also encompassed enhanced accessibility with replacement of front, rear, and basement steps, and exterior improvements including landscaping and a rejuvenated rear parking lot providing ample parking. Construction is expected to be completed September 1, 2023. The current build-out is subject to change based on buyer requests. This property presents a remarkable opportunity for a medical practice seeking a modern, well-equipped space in a thriving location. The building's extensive upgrades ensure a comfortable and functional environment for both staff and patients.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $1,608,343
    Hospitality
    $1,473,234
    Educational
    $1,225,713
    Medical
    $1,267,867
    Retail
    $1,906,665
1478 Morris Ave, Union, New Jersey

Location Insight

City
Union
County
Union
State
New Jersey
Latitude
40.69
Longitude
-74.2495
CBSA code
35620
CBSA name
NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$21,334
$35,500
$66,500
$102,000
-
$35,500
$66,500
$102,000

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