Properties

Description

Excellent mixed-use investment opportunity on busy South Orange Avenue! This income-producing property features a commercial space on the first floor with an established tenant and lease in place. The second floor offers a renovated two-bedroom apartment, providing an additional source of rental income. A full unfinished basement provides additional storage. Renovated in 2021 and situated in Newark's C-2 Community Commercial and Residential Zone, the property offers strong visibility and convenient access to major highways, public transportation, shopping and neighborhood amenities. A great opportunity to add a versatile mixed-use property to your investment portfolio. Buyer responsible for verifying permitted uses and property information with the City of Newark.

Features

  • Heating System : Forced Hot Air, See Remarks, 2 Units
  • Cooling System : Central Air
  • Basement : Full, Unfinished
  • Roof Deck : Flat
  • Tax Assessed Valuation: 325000
  • Sewer: Public Sewer
  • Water: Public Water

Appliances

  • Utilities: Gas In Street

Additional Info

  • Office Name: EPIQUE REALTY
  • Office MLS ID: 6250
  • Agent ID: 287310
  • Tax: 12996
  • Tax Year: 2025
  • Application Fee: $0
  • Zoning: c-2

Commercial For Sale

For Sale
$549,000

587 S Orange Ave, Newark City, *

  • SQFT 25 Acre
  • Built Year 1900

Details

  • Property Type: Commercial
  • Listing Type: For Sale
  • Listing ID: 5460138
  • Price: $549,000
  • Bedrooms: 0
  • Bathrooms: 0
  • Half Bathrooms: 0
  • Square Footage: 0 Sqft
  • Year Built: 1900
  • Year Built Description: Approximate
  • Lot Area: 25 Acre
  • Status: Active
  • Days On Market: 7

Contact Agent

Sky Realty & Associates

Map

Address Map

  • Country US
  • County Essex
  • City Newark City
  • Zipcode *
  • Street: S Orange Ave
  • Street Number: 587
  • Street Direction: Garden state parkway to Exit 144, follow south Ora
  • Floor Number: 0
  • Longitude: W75° 47' 19.1''
  • Latitude: N40° 44' 39.1''
  • Internet Display Address: No
Property