1018-1020 S Orange Ave - Storefront Retail/Residential FOR SALE


Newark, NJ 07106- Lower Vailsburg
$2,887,500 USD
917-745-2911
1018-1020 S Orange Ave, Newark, NJ for Sale
$2,887,500 USD
Storefront Retail/Residential - FOR SALE
1/5
null | 5.2% Cap Rate

1018-1020 S Orange Ave
Newark, NJ 07106
Lower Vailsburg


HIGHLIGHTS

  • Brand New- ALL LEASED OUT 7000 SF MIXED USED 3 STORES AND 2 Brand New 3 Bed Room Apartments Mixed Use Building
  • Situated in Busy Retail Area near White Castle, Popeye Chicken, Dunkin Donuts, Dollar Tree, Seton Hall University
  • Perfect 1031 Exchange with No Headache- Fix No More! Brand New 7000 SF Commercial Right on Heavy Traffic South Orange Ave
  • Low Tax 5700, Lot Size= 5178 S.F. Three Stores with 12 FT CELING HEIGHT, 2 Brand New 3 Bedroom Apartments

OVERVIEW

Perfect for 1031 Exchange - Fix No More! 7000 SF, Three Retail Stores with 2 Apts, 100 % Leased out- Mixed Use Building, Currently the store rents are below the market price 3 Stores plus Two 3 bedroom Apartments Fully leased out! Total 5 tenants - 3 Retail Stores( Farmers Market, Thrift Store, Hair Salon with Beauty Supply) and Two Brand New 3 bedroom Apartments with 2 baths and one bath situated on heavy traffic area near White Castle, Popeye Chicken, Dunkin Donuts, Dollar Tree, Seton Hall University 12 Ft Ceiling 3 Stores: 1800 SF, 1600 SF, 1200 SF Monthly Rent and Size:(Rent are currently below the market prices)- More Income Potential for New Owners (1800SF) w 10 yr Lease- Farmers Market ( 1600 SF): Thrift Store- God is Good Thrift Store ( 1200 SF): Hair Salon with Beauty Supply Apt Rent1 3 Bedroom w 2 baths: Apt Rent2: 3 bedroom w 1 bath: Perfect for 1031 EXCHANGE- LOW PROPERTY TAX($5700) BRAND NEW 7000 SF BUILDING - 3 RETAIL STORES W 2 APTS (3BEDROOMS) 100 % all leased out LOW RENTS BELOW THE MARKET PRICE. (MORE INCOME POTENTIALS) Total Income: $160,200 Total Expenses: $11,140 (Current Tax:$5700) Net income: $149,060 For detailed information on Rent Roll: ( email to ericsuh2@gmail.com or text to 917-745-2911) Contact Youngstar Realty Eric Suh 917 745 2911 Via Text or Ericsuh2@gmail.comProperty T

FOR SALE DETAILS

PRICE

$2,887,500 USD

PRICE/SF

$413 USD /SF

CAP RATE

5.2%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,184 SF

ZONING

C-2

APN/PARCEL ID

14-04115-0000-00007

ASK ABOUT THIS PROPERTY

Eric SuhYoung Star RealtyMore Info
917-745-2911

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Eric SuhYoung Star RealtyMore Info
917-745-2911

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.