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LOCATION, LOCATION, LOCATION!Located directly across from Newark Town Hall, this rare investment opportunity is ideal for builders and investors looking to capitalize on one of the most desirable commercial streets in the city. The property is currently home to a Crown Fried Chicken (owned by the seller) and a nail salon, which generates $4,000 per month in rental income. However, the property can be delivered fully vacant, providing maximum flexibility for the buyer to reimagine its use. Per the seller's claims (buyer to conduct their own due diligence), the zoning allows for the construction of up to four floors plus a ground floor, which could accommodate 12 residential units and two commercial spaces. The true value lies in the property's prime location and development potential, making it a perfect addition to any investor's or developer's portfolio. Don't miss this opportunity to secure a high-visibility property in Newark's thriving urban landscape schedule your showing today!
| DAYS ON MARKET | 1 | LAST UPDATED | 1/26/2025 |
|---|---|---|---|
| YEAR BUILT | 0 | COMMUNITY | Newark |
| COUNTY | Essex | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| AREA | Newark |
|---|---|
| BASEMENT | Full, Yes |
| HEAT | Natural Gas |
| LOT | 4792 sq ft |
| PARKING | On Street |
| SEWER | Public Sewer |
| STORIES | 2 |
| TAXES | 26621 |
| UTILITIES | Underground Utilities |
| WATER | Public |
| ZONING | COMMERCIAL |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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