16 Chestnut St
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16 Chestnut St
6,138 SF 100% Leased Office Building Emerson, NJ 07630 £789,000 (£129/SF) 7.10% Net Initial Yield
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
£789,000
Price Per SF
£129
Net Initial Yield
7.10%
NOI
£56,019
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
2,046 SF
Building FAR
0.54
Land Acres
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 | £361,667 |
| Land Assessment | £270,341 | Total Assessment | £632,008 |
PROPERTY TAXES
Parcel Number
14-00214-0000-00005-02
Land Assessment
£270,341
Improvements Assessment
£361,667
Total Assessment
£632,008
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Alex Mouzakitis -
Asaf Gahali -
Alexander Anderson Real Estate Group
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16 Chestnut St
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