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$1,450,000
Est. payment /mo
11,650 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 11,650 sqft
Price per Sqft $124
MLS Listing ID 4048432
Annual Tax Amount $10,749
Tax Year 2025
Lot Size 4,356 Sqft
Property Sub-Type Mixed Use
Property Description
Positioned directly adjacent to the Lionsgate development, this mixed-use commercial building offers investors a rare value-add opportunity in one of Newark's most active growth corridors. The ground floor features a cigar shop operating under an active lease, delivering immediate in-place income from day one, alongside a separate vacant warehouse space with adjoining office area ready for an owner-user, new tenant, or repositioning to suit market demand. The second floor holds 6 residential units offering significant upside through lease-up, renovation, and rent stabilization to market rates. This is a true value-add play ? a stabilized retail anchor providing carrying income while the vacant warehouse/office and residential units offer multiple paths to increase NOI, whether through lease-up of the vacant commercial space, unit-by-unit renovation of the second floor, or a broader repositioning of the asset to capture rising rents in the immediate area. Its location next to Lionsgate places the property directly in the path of one of Newark's most significant nearby developments, with the surrounding neighborhood poised to benefit from that growth, making this an ideal fit for value-add investors, owner-users seeking commercial space with income-producing upside, or investors looking to build a multifamily/commercial hold in an emerging Newark submarket.
Location
State NJ
County Essex
Zoning Commercial
Interior
Heating Gas-Natural
Cooling See Remarks
Equipment Fire Alarm
Heat Source Gas-Natural
Exterior
Exterior Feature Brick/Block
Garage Spaces 1.0
Utilities Available Gas-Natural
Roof Type Flat
Building
Story 2
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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Listed by EXP REALTY, LLC
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