391-393 Hawthorne Ave - Supermarket FOR SALE


Newark, NJ 07112- Upper Clinton Hill
$900,000 USD
862-703-9791
391-393 Hawthorne Ave, Newark, NJ for Sale
$900,000 USD
Supermarket - FOR SALE
1/13
null | Request Cap Rate

391-393 Hawthorne Ave
Newark, NJ 07112
Upper Clinton Hill


HIGHLIGHTS

  • 2% Commission to Buyer's Agent

OVERVIEW

CALLING ALL DEVELOPERS SELLER HAS A DEVELOPER'S CONTRACT, YOU BUY AND WE WILL CONTINUE TO PUSH THE CONTRACT THROUGH! So, once you buy 391-393(SIZE: 50X104), you will also get the contract Seller put in for 385-387(SIZE: 25X105) and 397-399(SIZE: 33.9X104). Which one is a church, a mixed use (commercial unit bottom, two units up top), three unit commercial property, and a commercial property. The mixed use & abandoned commercial property does need work. 391-393 Hawthorne Ave has two tenants occupying spaces and one is vacant (working on getting it occupied) 391-393 HAWTHORNE STATS AS FOLLOWS: - Two of three units are rented out for the next five years on a NNN w/right of renewal after five years - Each unit pays their own utilities and meters are seperated. Water is divided by the three units - Roof done in 2021 - Newer hot water heaters - Each unit (1,500sqft) has its own basement for an additional 1,000sqft storage space - Unit 1: is occupied by a community grocery store - Unit 2: originally occupied Bragman's Deli (has a walk in cooler, stove, and other equipment may be available) - Unit 3: occupied - Owner of building has an option to expand w/first right of refusal on buildings next to Units 1 & 3 pay $2000 & $2500 plus utilities, taxes, and water. Unit #2 IS AVAILABLE FOR LEASE. $3,000/MONTH NNN LEASE. MINIMUM THREE YEARS. SELLER FINANCING & LEASE W/OPTION TO BUY MAY BE AVAILABLE, COME W/YOUR BEST OFFER

FOR SALE DETAILS

PRICE

$900,000 USD

PRICE/SF

$79 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

YOU BUY, WE'LL WORK ON DEVELOPER'S CONTRACT!

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Supermarket

ADD'L SUBTYPES

Convenience Store, Restaurant, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1930

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,491 SF

ZONING

-

APN/PARCEL ID

14-03037-0000-00019,14-03037-0000-00020,14-03037-0000-00021,14-03037-0000-00023

ASK ABOUT THIS PROPERTY

Carolina CampbellReal BrokerMore Info
862-703-9791

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Carolina CampbellReal BrokerMore Info
862-703-9791

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