Business Overview
Four-story mixed-use building in downtown Newark featuring two ground-floor retail units and six residential apartments above. Fully tenanted with long-term leases in place. Recent renovations include a new roof, updated electrical, and modern HVAC systems. Strong cap rate with room to raise rents to market.
Business Highlights
Fully tenanted - 100% occupancy|2 retail units + 6 residential apartments|New roof and HVAC (2022)|$198K gross annual rental income|Strong 7.5% cap rate|Walking distance to Newark Penn Station
Quick Facts
Type
Real estate
Financing Available
Yes
Real Estate Incl.
Yes
NDA Required
No
Inventory Value
$0
Reason for Selling
Owner liquidating part of portfolio for retirement.
Asking Price
$1,850,000
Cash Flow: $142,000
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