Properties

Description

Positioned directly adjacent to the Lionsgate development, this mixed-use commercial building offers investors a rare value-add opportunity in one of Newark's most active growth corridors. The ground floor features a cigar shop operating under an active lease, delivering immediate in-place income from day one, alongside a separate vacant warehouse space with adjoining office area ready for an owner-user, new tenant, or repositioning to suit market demand. The second floor holds 6 residential units offering significant upside through lease-up, renovation, and rent stabilization to market rates. This is a true value-add play a stabilized retail anchor providing carrying income while the vacant warehouse/office and residential units offer multiple paths to increase NOI, whether through lease-up of the vacant commercial space, unit-by-unit renovation of the second floor, or a broader repositioning of the asset to capture rising rents in the immediate area. Its location next to Lionsgate places the property directly in the path of one of Newark's most significant nearby developments, with the surrounding neighborhood poised to benefit from that growth, making this an ideal fit for value-add investors, owner-users seeking commercial space with income-producing upside, or investors looking to build a multifamily/commercial hold in an emerging Newark submarket.

Features

  • Heating System : See Remarks, Radiators - Steam
  • Cooling System : See Remarks
  • Roof Deck : Flat
  • Tax Assessed Valuation: 268800
  • Sewer: Public Sewer
  • Water: Public Water

Appliances

  • Utilities: Gas-Natural

Additional Info

  • Office Name: EXP REALTY, LLC
  • Office MLS ID: 5028
  • Agent ID: 261968
  • Tax: 10749
  • Tax Year: 2025
  • Application Fee: $0
  • Zoning: Commercial

Commercial For Sale

For Sale
$1,450,000

699 Frelinghuysen Ave, Newark City, *

  • SQFT 44.20 Acre
  • Built Year 9999

Details

  • Property Type: Commercial
  • Listing Type: For Sale
  • Listing ID: 5455662
  • Price: $1,450,000
  • Bedrooms: 0
  • Bathrooms: 0
  • Half Bathrooms: 0
  • Square Footage: 0 Sqft
  • Year Built: 9999
  • Year Built Description: Unknown
  • Lot Area: 44.20 Acre
  • Status: Active
  • Days On Market: 19

Contact Agent

Sky Realty & Associates

Map

Address Map

  • Country US
  • County Essex
  • City Newark City
  • Zipcode *
  • Street: Frelinghuysen Ave
  • Street Number: 699
  • Street Direction: Please use google maps.
  • Floor Number: 0
  • Longitude: W75° 48' 5.7''
  • Latitude: N40° 41' 51''
  • Internet Display Address: No
Property