• Broker Alex Mouzakitis 2013415147
  • Broker Asaf Gahali 9734069711

16 Chestnut St 6,138 SF 100% Leased Office Building Emerson, NJ 07630 $1,000,000 ($162.92/SF) 7.10% Cap Rate

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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.

ATTACHMENTS

16 Chestnut Street NOI 2024

PROPERTY FACTS

Sale Type
Investment or Owner User
Sale Conditions
1031 Exchange
Property Type
Office
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
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

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ADDITIONAL PHOTOS

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