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Description

LOCATION, LOCATION, LOCATION!Located directly across from Newark Town Hall, this rare investment opportunity is perfect for builders and investors looking to capitalize on one of the city?s most sought-after commercial streets. The property currently operates as a Crown Fried Chicken (owned by the seller) and a nail salon generating $4,000/month in rental income. The property can be delivered fully vacant, offering flexibility for the buyer to reimagine its use. Development Opportunity: Per seller (buyer to conduct due diligence), zoning allows for the construction of up to 4 floors plus a ground floor, accommodating 12 residential units and 2 commercial spaces. This property is a true gem for investors and developers seeking to expand their portfolio. With unmatched location and versatile development potential, it?s a chance to create a significant asset in Newark?s bustling urban landscape.

Features

Heating System : See Remarks
Cooling System : See Remarks
Basement : Full, Walkout
Roof Deck : Flat
Furnished : Laminate
Tax Assessed Valuation: 700000
Sewer: Public Sewer
Water: Public Water

Appliances

Utilities: All Underground
Internet

Additional Info

Office Name: REAL
Office MLS ID: 4989
Agent ID: 402719
Tax: 26621
Tax Year: 2024
Application Fee: $0
Zoning: COMMERCIAL

Commercial For Sale

For Sale

$1,599,000

895 Mayor Gibson, Newark City, *

30.10 Acre
Built Year 9999

Details

Property Type: Commercial
Listing Type: For Sale
Listing ID: 5364743
Price: $1,599,000
Bedrooms: 0
Bathrooms: 0
Half Bathrooms: 0
Square Footage: 0 Sqft
Year Built: 9999
Year Built Description: Unknown
Lot Area: 30.10 Acre
Status: Active
Days On Market: 0

Contact Agent

Email:

wp@applicationx.net

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Map

Address Map

Country US
County Essex
City Newark City
Zipcode *
Street: Mayor Gibson
Street Number: 895
Street Direction: BROAD ST ACROSS THE STREET FROM NEWARK CITY HALL
Floor Number: 0
Longitude: W75° 49' 32.8''
Latitude: N40° 43' 55.1''
Internet Display Address: Yes