Commercial Real Estate for Sale at 67 Broadway in Newark City, NJ for $950,000

Listing data updated November 14, 2024 - 12:45am
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67 Broadway | Newark City

$950,000 | 1 Baths (1 Half) | 0.0 Sq. Ft.

Discover a highly desirable mixed-use property just five blocks from the heart of downtown, offering excellent rental income at 7.25% CAP Rate and long-term leases. This property is ideal for investors looking for a steady revenue stream with growth potential!Commercial Space (1st Floor): Spacious commercial area with a basement, currently leased for $2,570 per month with a secure 10-year lease and a 3% annual rent increase. This setup ensures reliable income with a growth trajectory for years to come.Residential Units:2nd Floor: Fully renovated 4-bedroom, 1-bathroom apartment with a lease in place. Enjoy $2,550 in monthly rent for this renovated unit, offering a comfortable living space for tenants.3rd Floor: 3 bedrooms, 1-bathroom unit renting at $2,000 per month.Additional Highlights:No on-site parking, but conveniently located just a short five-block walk to downtown. GSMLS 3934175

Directions to property: Between Clark St and Broad St

MLS Listing ID: 
GSMLS 3934175
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Status (Local): 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$950,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Primary Market Area: 
Newark City
Address: 
67 Broadway, Newark City, NJ 07104-4840, U.S.A.
County: 
Essex
Latitude: 
40.7524400
Longitude: 
-74.1706400
Directions: 
Between Clark St and Broad St
Public Remarks: 
Discover a highly desirable mixed-use property just five blocks from the heart of downtown, offering excellent rental income at 7.25% CAP Rate and long-term leases. This property is ideal for investors looking for a steady revenue stream with growth potential!Commercial Space (1st Floor): Spacious commercial area with a basement, currently leased for $2,570 per month with a secure 10-year lease and a 3% annual rent increase. This setup ensures reliable income with a growth trajectory for years to come.Residential Units:2nd Floor: Fully renovated 4-bedroom, 1-bathroom apartment with a lease in place. Enjoy $2,550 in monthly rent for this renovated unit, offering a comfortable living space for tenants.3rd Floor: 3 bedrooms, 1-bathroom unit renting at $2,000 per month.Additional Highlights:No on-site parking, but conveniently located just a short five-block walk to downtown.
Building Details
Details about the building on a property.
Stories: 
3
Year Built: 
1920
Living Area: 
0.0
Basement: 
Finished-Partially, Full
Construction
Construction Materials: 
Wood
Roof: 
Asphalt Shingle
Exterior: 
Vinyl Siding
Energy Information: 
See Remarks
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
1
Total Half-Bathrooms: 
1
Utilities
Information about utilities available on the property.
Heating System: 
3 Units
Heating System Fuel: 
Gas-Natural
Cooling System: 
3 Units
Water Source: 
Public Water
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.04
Lot Size (Dimensions): 
25X75
Waterfront: 
0
Lot Features
Driveway: 
None
Parking Type: 
None
Total Parking Spaces: 
0
Public Record
Parcel Number: 
1614-00449-0000-00062-0000-
Lot Number: 
62
Annual Tax: 
$9,586.00
Property Zoning: 
no
Contract Details
Details about the listing contract.
Possession: 
0-30
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Office Name: 
CHRISTIE'S INT. REAL ESTATE GROUP

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