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Newark City,NJ 07102
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 5,000 sqft
Price per Sqft $319
MLS Listing ID 3969074
Annual Tax Amount $26,621
Tax Year 2024
Lot Size 4,791 Sqft
Property Sub-Type Mixed Use
Property Description
LOCATION, LOCATION, LOCATION!Located directly across from Newark Town Hall, this rare investment opportunity is perfect for builders and investors looking to capitalize on one of the city?s most sought-after commercial streets. The property currently operates as a Crown Fried Chicken (owned by the seller) and a nail salon generating $4,000/month in rental income. The property can be delivered fully vacant, offering flexibility for the buyer to reimagine its use. Development Opportunity: Per seller (buyer to conduct due diligence), zoning allows for the construction of up to 4 floors plus a ground floor, accommodating 12 residential units and 2 commercial spaces. This property is a true gem for investors and developers seeking to expand their portfolio. With unmatched location and versatile development potential, it?s a chance to create a significant asset in Newark?s bustling urban landscape.
Location
State NJ
County Essex
Zoning COMMERCIAL
Interior
Heating Gas-Natural
Cooling See Remarks
Flooring Laminate
Equipment Appliances, Fire Alarm, Fixtures, Kitchen Area, Refrigeration Unit, Restrooms - Private, Smoke Detector, Storage Area(s)
Exterior
Exterior Feature Aluminum
Utilities Available All Underground
Roof Type Flat
Building
Story 3
Sewer Public Sewer
Water Public Water