140 South StNewark, NJ 07114

Property Details for 140 South St

Year built

1897

Lot size

0.08 AC

Property size (Sq ft)

3,300 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional mixed-use property in Newark, NJ, presents a compelling investment opportunity. Located at 140 South Street, this three-story, 3,300 square foot building boasts a prime location in the Ironbound section, just a block from Route 21 and a short drive to Newark Airport and Newark Penn Station. Built in 1897, the property sits on a 0.08-acre lot and is zoned for commercial use. The building comprises three units: a restaurant/bakery currently in operation, and two residential units. One residential unit features two large updated bedrooms and two bathrooms, while the other offers three bedrooms and one bathroom. Both residential units boast hardwood floors, updated kitchens, central air conditioning, in-unit laundry, and basement access. All units are currently leased, generating a strong net operating income (NOI) of $56,238. The asking price is $1,250,000, representing a price per square foot of $378.79. Detailed income and expense statements are available upon request. This property is ideal for investors seeking a blend of commercial and residential income streams in a vibrant, high-demand location. Please respect tenant privacy and do not disturb.

Location Insight

City

Newark

County

Essex

State

New Jersey

Latitude

40.7225

Longitude

-74.1727

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