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SHOPPING MALL SITE CHESTNUT ST AND OLIVER ST 290 Chestnut St 34,000 SF 100% Leased Office Building Newark, NJ 07105 $10,500,000 ($308.82/SF)
Executive Summary
Approx. 22,600 SF on 2nd & 3rd Floors
" Rental Rate: $22.00 PSF NNN
" 11,300 SF First Floor
" Leased to Adult Day Care
" Monthly Income Approx. $19,000.00
Building Size: Approx. 34,000 SF
" 3 Story Elevator Building
" Building Footprint 75 X 150
" Ironbound Section of Newark
" Complete Building Renovation in 2001
" All Stucco Exterior for Low Maintenance
" Abundant Parking / Gated Lot
" Ingress / Egress on Oliver & Chestnut Street '''''''''' SELLER HAS DEVLOPMENT PRINTS FOR THE SITE , ITS IN APPROVAL STAGE SEE THE ATTACHMENTS ''''''''''''
" Rental Rate: $22.00 PSF NNN
" 11,300 SF First Floor
" Leased to Adult Day Care
" Monthly Income Approx. $19,000.00
Building Size: Approx. 34,000 SF
" 3 Story Elevator Building
" Building Footprint 75 X 150
" Ironbound Section of Newark
" Complete Building Renovation in 2001
" All Stucco Exterior for Low Maintenance
" Abundant Parking / Gated Lot
" Ingress / Egress on Oliver & Chestnut Street '''''''''' SELLER HAS DEVLOPMENT PRINTS FOR THE SITE , ITS IN APPROVAL STAGE SEE THE ATTACHMENTS ''''''''''''
Financial Summary (Actual - 2020) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$600,000
|
$17.65
|
| Taxes |
-
|
-
|
| Operating Expenses |
$100,000
|
$2.94
|
| Total Expenses |
$100,000
|
$2.94
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2020)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $600,000 |
| Annual Per SF | $17.65 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $100,000 |
| Annual Per SF | $2.94 |
| Total Expenses | |
|---|---|
| Annual | $100,000 |
| Annual Per SF | $2.94 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
34,000 SF
Building Class
B
Year Built/Renovated
1940/2001
Price
$10,500,000
Price Per SF
$308.82
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
11,333 SF
Building FAR
1.82
Lot Size
0.43 AC
Zoning
commercial
Parking
14 Spaces (0.37 Spaces per 1,000 SF Leased)
Amenities
- Smoke Detector
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 14-00956-0000-00017-07 | Improvements Assessment | $1,198,000 (2025) |
| Land Assessment | $852,000 (2025) | Total Assessment | $2,050,000 (2025) |
Property Taxes
Parcel Number
14-00956-0000-00017-07
Land Assessment
$852,000 (2025)
Improvements Assessment
$1,198,000 (2025)
Total Assessment
$2,050,000 (2025)
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Videos
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Photos
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Street
Map
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SHOPPING MALL SITE CHESTNUT ST AND OLIVER ST | 290 Chestnut St
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