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Description

Discover a highly desirable mixed-use property just five blocks from the heart of downtown, offering excellent rental income at 7.25% CAP Rate and long-term leases. This property is ideal for investors looking for a steady revenue stream with growth potential!Commercial Space (1st Floor): Spacious commercial area with a basement, currently leased for $2,570 per month with a secure 10-year lease and a 3% annual rent increase. This setup ensures reliable income with a growth trajectory for years to come.Residential Units:2nd Floor: Fully renovated 4-bedroom, 1-bathroom apartment with a lease in place. Enjoy $2,550 in monthly rent for this renovated unit, offering a comfortable living space for tenants.3rd Floor: 3 bedrooms, 1-bathroom unit renting at $2,000 per month.Additional Highlights:No on-site parking, but conveniently located just a short five-block walk to downtown.

Features

Heating System : 3 Units
Cooling System : 3 Units
Basement : Full, Finished-partially
Roof Deck : Asphalt Shingle
Tax Assessed Valuation: 341400
Sewer: Public Sewer
Water: Public Water

Appliances

Utilities: See Remarks

Additional Info

Office Name: CHRISTIE'S INT. REAL ESTATE GROUP
Office MLS ID: 492704
Agent ID: 297129
Tax: 9586
Tax Year: 2023
Application Fee: $0
Zoning: no

Commercial For Sale

For Sale

$950,000

67 Broadway, Newark City, *

25 Acre
Built Year 1920

Details

Property Type: Commercial
Listing Type: For Sale
Listing ID: 5324178
Price: $950,000
Bedrooms: 0
Bathrooms: 0
Half Bathrooms: 0
Square Footage: 0 Sqft
Year Built: 1920
Year Built Description: Approximate
Lot Area: 25 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: Broadway
Street Number: 67
Street Direction: Between Clark St and Broad St
Floor Number: 0
Longitude: W75° 49' 45.7''
Latitude: N40° 45' 8.8''
Internet Display Address: No