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Description

Prime Mixed-Use Investment Opportunity in the Heart of Newark! A rare, mixed-use building offering exceptional potential just moments from the University Heights district, Rutgers University, NJIT, major medical centers, and premier arts, entertainment, and business hubs, including NJPAC, Prudential Center, and the thriving Downtown Newark business district.This well-maintained, recently renovated real estate asset features two expansive residential units, each thoughtfully updated with 4 bedrooms, 2 full bathrooms, brand new central air conditioning, and forced hot air heating ideal for long-term tenants, student housing, or corporate rentals. The ground level showcases approximately 3,000 SF of open-plan commercial space, formerly operated as a lounge, featuring two bar setups and an adaptable footprint. Whether you're an investor seeking a value-add opportunity or an entrepreneur ready to bring a new concept to life, this space offers a blank canvas primed for transformation. Strategically located in a high-visibility, high-demand corridor with strong foot traffic and easy access to major transit routes, this property stands out as a versatile and attractive opportunity in one of Newark's most energetic and fast-growing neighborhoods. Key Highlights:- Ready for immediate occupancy - Two updated 4BR/2BA residential units - Approximately 3,000 SF commercial space on the ground floor - Steps from major universities, hospitals, transportation, and entertainment.

Features

Heating System : 3 Units
Cooling System : 3 Units, Central Air, See Remarks
Basement : Full
Roof Deck : Flat
Lot Description: Corner
Tax Assessed Valuation: 319700
Sewer: Public Available
Water: Public Water

Appliances

Utilities: Gas-Natural

Additional Info

Office Name: BURGOS REALTY COMPANY
Office MLS ID: 5673
Agent ID: 247609
Tax: 12158
Tax Year: 2024
Application Fee: $0
Zoning: MIX-USE

Commercial For Sale

For Sale

$1,490,000

415 Central Ave, Newark City, *

30 Acre
Built Year 9999

Details

Property Type: Commercial
Listing Type: For Sale
Listing ID: 5349336
Price: $1,490,000
Bedrooms: 0
Bathrooms: 0
Half Bathrooms: 0
Square Footage: 0 Sqft
Year Built: 9999
Year Built Description: Renovated
Lot Area: 30 Acre
Status: Active
Days On Market: 14

Contact Agent

Email:

wp@applicationx.net

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Map

Address Map

Country US
County Essex
City Newark City
Zipcode *
Street: Central Ave
Street Number: 415
Street Direction: on the corner of Central Avenue and 2nd Street
Floor Number: 0
Longitude: W75° 48' 38''
Latitude: N40° 44' 51.4''
Internet Display Address: Yes