Mixed-Use Development with Transit
For Sale
$1,399,000
600 Chestnut St, Roselle Park, NJ 07204
Five-unit mixed-use property across from an NJ Transit rail station, offering flexible space for residential and commercial use.
Property Size4,999 SF
Days on Market57
Property Features for 600 Chestnut St
General Information
Standard status
Active
Size
4,999 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$23,264
Building Details
Building Size
4,999 SF
Year Built
1920
Stories
2
Units
5
Listing Agency:
Better Homes and Gardens RE Elite
(908) 316-8530
Listed By:
CHRISTIAN COBO
Source:
Elliman
Added: Jul 3
Changed: Aug 15
Last Checked: Aug 28 at 12:52PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Better Homes and Gardens RE Elite
Investment Insights
Based on property information with market context.
This mixed-use development includes a five-unit portfolio that combines residential income with a commercial component. The property is positioned for an owner, developer, or investor to tailor the configuration of the units, including layout and finish choices, as well as the residential and commercial tenant mix, to fit their operating strategy.
The asset is located directly across from the NJ Transit Roselle Park Station on the Raritan Valley Line. The remarks note the station provides convenient rail access with two stops to Newark Penn, making the location relevant for tenants seeking proximity to public transportation.
For prospective tenants, buyers, or operators, the key practical consideration is flexibility within a mixed-use format at a transit-oriented address. The property’s current structure supports a combined residential and commercial approach, while the documented emphasis on customizing unit layouts and tenant mix can be useful for entities looking to shape how the space is executed and occupied over time.
The asset is located directly across from the NJ Transit Roselle Park Station on the Raritan Valley Line. The remarks note the station provides convenient rail access with two stops to Newark Penn, making the location relevant for tenants seeking proximity to public transportation.
For prospective tenants, buyers, or operators, the key practical consideration is flexibility within a mixed-use format at a transit-oriented address. The property’s current structure supports a combined residential and commercial approach, while the documented emphasis on customizing unit layouts and tenant mix can be useful for entities looking to shape how the space is executed and occupied over time.
Key Highlights
- 5‑unit mixed‑use portfolio at 600 Chestnut Street in Roselle Park, NJ, combining residential income with commercial build‑out upside.
- Located directly across from the NJ Transit Roselle Park Station (Raritan Valley Line), 2 stops to Newark Penn.
- Year built: 1920.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$76,875
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,537,500
$1.5M
Cap Rate 7%
$1,098,214
$1.1M
Cap Rate 9%
$854,167
$854.2K
Market Conditions
NOI Build-Up for 4,999 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$150.0K $30.00/SF
− Vacancy
−$10.2K −$2.04/SF
EGI
$139.8K $27.96/SF
− OpEx
−$62.9K −$12.58/SF
NOI
$76.9K $15.38/SF
Area
Union County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,537,500
Cap Rate 7%
$1,098,214
Cap Rate 9%
$854,167
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$960.9K – $1.28M
NOI $76,875 @ 7.0% cap · market cap 5.49%
Second Best
Mixed Use
$942.7K
$824.8K – $1.10M
NOI $65,987 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,374 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,113
Businesses Nearby
Explore this area
Business Placement
Demographics for 07204, NJ
13,984
Population
5,373
Households
2.6
Avg Household Size
39
Median Age
39%
College-Educated
91%
High-School Grad
1.2 sq mi
ZIP Area
11,653
Density / Sq Mi
$104,418
Median Household Income
$55,974
Median Earnings
$1,585
Median Rent
$405,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Five-unit mixed-use property across from an NJ Transit rail station, offering flexible space for residential and commercial use.
Where is this mixed-use property located?
The property is located at 600 Chestnut St Roselle Park, NJ.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: 5‑unit mixed‑use portfolio at 600 Chestnut Street in Roselle Park, NJ, combining residential income with commercial build‑out upside.; Located directly across from the NJ Transit Roselle Park Station (Raritan Valley Line), 2 stops to Newark Penn.; Year built: 1920.
