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
Price / SF$279.86
Days on Market103
Property Features for 600 Chestnut St
General Information
Standard status
Active
Size
4,999 SF
Building Details
Year Built
1920
Listing Agency:
BHGRE ELITE
Listed By:
CHRISTIAN COBO · License #285389
(908) 316-8530
Source:
Goldstandardrealty
Added: Jul 3
Changed: Oct 2
Last Checked: Oct 7 at 2:03PM
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 BHGRE 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 / Yr
$76,875
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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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.
