16 Chestnut St
6,138 SF 100% Leased Office Building Emerson, NJ 07630 $1,000,000 ($162.92/SF) 7.10% Cap Rate
INVESTMENT HIGHLIGHTS
- Ideal for continued office use or potential conversion/redevelopment, subject to local zoning regula
- Close proximity to Starbucks, Stop & Shop, Dunkin Donuts, 7-Eleven , Auto Zone, M&T Bank, NJ Mike's Subs.
- 18,000 Vehicle Per Day count on Kinderkamack Rd.
EXECUTIVE SUMMARY
Excellent investment opportunity! This well-maintained office building, located in the vibrant community of Emerson. Spanning an impressive 6,138 square feet, the property is currently occupied by 21 diverse tenants, ensuring a steady stream of rental income. The building’s presence in a redevelopment zone presents significant opportunities for future enhancement or transformation. Emerson’s ongoing revitalization efforts make this property a strategic investment for those looking to capitalize on the area's growth.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Building Size
6,138 SF
Building Class
C
Year Built
1960
Price
$1,000,000
Price Per SF
$162.92
Cap Rate
7.10%
NOI
$71,000
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
2,046 SF
Building FAR
0.54
Lot Size
0.26 AC
Zoning
RC, Emerson Boro. - RC - Retail/Commercial
Parking
20 Spaces (3.26 Spaces per 1,000 SF Leased)
AMENITIES
- Property Manager on Site
1 of 1
Walk Score®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 14-00214-0000-00005-02 | Improvements Assessment | $457,800 |
| Land Assessment | $342,200 | Total Assessment | $800,000 |
