Properties

Description

Exceptional investment opportunity in the heart of Newark. This newly constructed 3-story mixed-use building features three residential units and two ground-floor commercial spaces ? a retail unit (1,132 SF) and an office unit (511 SF). All three apartments are currently leased at $2,300/month each on 3-year leases expiring in 2027, offering stable, in-place cash flow. The commercial units are presently owner-occupied on a month-to-month basis, allowing for flexible occupancy or immediate leasing upside. Both spaces will also be actively marketed for lease, making this a prime opportunity for investors, owner-users, or hybrid retail/residential operators.The property benefits from a valuable 5-year tax abatement, with reduced property taxes structured as follows: Year 1 ? 0%, Year 2 ? 20%, Year 3 ? 40%, Year 4 ? 60%, and Year 5 ? 80% of full taxes. Located along the South Orange Avenue corridor, this asset is well positioned for long-term growth with convenient access to major highways, public transportation, and Newark?s institutional and residential hubs. A rare chance to acquire a turnkey building with strong rental income and immediate commercial upside.

Features

  • Heating System : 4+ Units
  • Cooling System : Central Air
  • Roof Deck : Asphalt Shingle
  • Lot Description: Level Lot
  • Tax Assessed Valuation: 516000
  • Sewer: Public Sewer
  • Water: Public Water

Appliances

  • Utilities: All Underground, Electric, Gas-Natural

Additional Info

  • Office Name: FLOROSTONE REALTY INC.
  • Office MLS ID: 4889
  • Agent ID: 308976
  • Tax: 0
  • Tax Year: 2024
  • Application Fee: $0
  • Zoning: C-2

Commercial For Sale

For Sale
$1,299,000

549 S Orange Ave, Newark City, *

  • SQFT 25 Acre
  • Built Year 2024

Details

  • Property Type: Commercial
  • Listing Type: For Sale
  • Listing ID: 5372076
  • Price: $1,299,000
  • Bedrooms: 0
  • Bathrooms: 0
  • Half Bathrooms: 0
  • Square Footage: 0 Sqft
  • Year Built: 2024
  • Year Built Description: Approximate
  • Lot Area: 25 Acre
  • Status: Active
  • Days On Market: 0

Contact Agent

Sky Realty & Associates

Map

Address Map

  • Country US
  • County Essex
  • City Newark City
  • Zipcode *
  • Street: S Orange Ave
  • Street Number: 549
  • Street Direction: South Orange Ave
  • Floor Number: 0
  • Longitude: W75° 47' 24.8''
  • Latitude: N40° 44' 37.4''
  • Internet Display Address: No
Property