Properties

Description

Price Adjustment to reflect a 6.25% CAP RATE. A rare opportunity to acquire a fully income-producing mixed-use property in the heart of Downtown Newark's Arena District, steps from the Prudential Center and Mulberry Commons Park. 218 Mulberry Street offers immediate cash flow with significant long-term upside in one of Newark's most active redevelopment corridors. The property features a strong commercial anchor tenant generating approximately $240,000 annually, plus four residential units above, providing a diversified income stream with total annual income of approximately $349,200 and a net operating income of approximately $291,900. Operating expenses are low, tenants pay all utilities, and the property is owner-managed. All leases are month-to-month, offering incoming ownership flexibility to lock in long-term leases, optimize rents, or reposition the asset. Located within a major redevelopment zone surrounded by substantial public and private investment, the property is widely regarded as a strategic parcel in the continued transformation of Downtown Newark. Ideal for 1031 exchange buyers, long-term hold investors, value-add strategies, or assemblage-minded buyers seeking stable income today with meaningful future potential.

Features

  • Heating System : See Remarks
  • Cooling System : See Remarks
  • Basement : Full
  • Roof Deck : Flat
  • Lot Description: Corner
  • Tax Assessed Valuation: 969700
  • Sewer: Public Sewer
  • Water: Public Water

Appliances

  • Utilities: All Underground

Additional Info

  • Office Name: EXP REALTY, LLC
  • Office MLS ID: 5028
  • Agent ID: 297002
  • Tax: 36877
  • Tax Year: 2024
  • Application Fee: $0
  • Zoning: Redevelopment

Commercial For Sale

For Sale
$4,800,000

218 Mulberry St, Newark City, *

  • SQFT 27.90 Acre
  • Built Year 1900

Details

  • Property Type: Commercial
  • Listing Type: For Sale
  • Listing ID: 5405334
  • Price: $4,800,000
  • Bedrooms: 0
  • Bathrooms: 0
  • Half Bathrooms: 0
  • Square Footage: 0 Sqft
  • Year Built: 1900
  • Year Built Description: Approximate
  • Lot Area: 27.90 Acre
  • Status: Active
  • Days On Market: 168

Contact Agent

Sky Realty & Associates

Map

Address Map

  • Country US
  • County Essex
  • City Newark City
  • Zipcode *
  • Street: Mulberry St
  • Street Number: 218
  • Street Direction: Use GPS to 218 Mulberry Street, Newark, NJ 07102.
  • Floor Number: 0
  • Longitude: W75° 49' 43.9''
  • Latitude: N40° 43' 53''
  • Internet Display Address: No
Property