Office Property with Two
New
For Sale
$519,000
598 BROADWAY, Bayonne, NJ 07002
Commercial/multiuse zoning permits residential use on floors above street level.
Property Size1,034 SF
Lot Size0.07 Acres
Price / SF$501.93
Days on Market3
Property Features for 598 BROADWAY
General Information
Standard status
Active
Size
1,034 SF
Lot size
0.07 Acres
Property subtype
Commercial
Zoning
Central Business District Broadway Corridor
Site & Location
Road Frontage
25 ft
Road Access
Yes
Public Transit
Yes
Additional Details
Land Use
commercial, office, mixed-use
Property Use
Office
Taxes and HOA fees
Annual Taxes
$10,236
Building Details
Year Built
1940
Buildings
2
Stories
1
Units
2
Construction
cinder block
Listed By:
JACK QIZHAN YAO
Source:
Elliman
Added: Oct 28
Last Checked: Oct 28 at 4:07PM
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 JACK QIZHAN YAO
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Investment Insights
Based on property information with market context.
At 598 Broadway, this 3,183 sq. ft. parcel contains two detached, single-story cinder block structures. The Broadway-facing building measures approximately 16’ x 66’ and includes three professional offices, a separate reception office, an entry foyer, an attic crawl space with walk-up access, and an attached furnace room. A smaller building at the rear measures approximately 12 x 16 and is described for storage or other use. The property is offered as-is and identified for reuse or redevelopment; the redevelopment limit is five stories.
The site fronts Broadway between 27th and 28th Streets in Bayonne’s central shopping district. Broadway bus service stops in front of the property, and two Hudson-Bergen Light Rail stations are within walking distance. Three municipal parking lots are within 1-1/2 blocks. The property is in the Central Business District Broadway Corridor and the city’s Urban Enterprise Zone; qualifying businesses may charge half the New Jersey sales tax on retail items.
The site fronts Broadway between 27th and 28th Streets in Bayonne’s central shopping district. Broadway bus service stops in front of the property, and two Hudson-Bergen Light Rail stations are within walking distance. Three municipal parking lots are within 1-1/2 blocks. The property is in the Central Business District Broadway Corridor and the city’s Urban Enterprise Zone; qualifying businesses may charge half the New Jersey sales tax on retail items.
Key Highlights
- 3,183 sq. ft. lot with 25 feet x 125 feet fronting on Broadway
- Two detached, 1‑story cinder block buildings on the lot
- Main building: approximately 16’ x 66’ and 1,034 sq. ft., with three professional offices and a separate reception office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,820
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$316,400
$316.4K
Cap Rate 7%
$226,000
$226.0K
Cap Rate 9%
$175,778
$175.8K
Market Conditions
NOI Build-Up for 1,034 SF
Gross rent
$31.0K $30.00/SF
− Vacancy
−$9.9K −$9.60/SF
EGI
$21.1K $20.40/SF
− OpEx
−$5.3K −$5.10/SF
NOI
$15.8K $15.30/SF
Area
Hudson County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$316,400
Cap Rate 7%
$226,000
Cap Rate 9%
$175,778
Alternative Uses
Best Use
Office B
$226.0K
$197.8K – $263.7K
NOI $15,820 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$374.4K
$327.6K – $436.8K
NOI $26,210 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,612
Businesses Nearby
Explore this area
Business Placement
Demographics for 07002, NJ
71,686
Population
30,161
Households
2.4
Avg Household Size
38
Median Age
40%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
12,360
Density / Sq Mi
$81,285
Median Household Income
$51,157
Median Earnings
$1,593
Median Rent
$446,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Commercial/multiuse zoning permits residential use on floors above street level.
Where is this office building located?
The property is located at 598 BROADWAY Bayonne, NJ.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: 3,183 sq. ft. lot with 25 feet x 125 feet fronting on Broadway; Two detached, 1‑story cinder block buildings on the lot; Main building: approximately 16’ x 66’ and 1,034 sq. ft., with three professional offices and a separate reception office
