875 BroadwayNewark, NJ 07104

Property Details for 875 Broadway

Construction

BRICK

Lot size

0.09 AC

Property type

Commercial real estate

APN

14 00832-0000-00002

APU

1400832000000002

Description

This exceptional opportunity presents a well-established autobody collision repair business located at 875 Broadway, Newark, NJ, 07104, in Essex County. Boasting a 40-year history operating as "Body Master," this turnkey operation is being offered for sale due to the owner's retirement. The 4,500 square foot facility includes a comfortable office space, two bathrooms, and a spacious garage bay equipped with radiant heat for optimal working conditions year-round. The business comes complete with a comprehensive suite of high-quality equipment, including a Down Draft Sigma Spray Booth, a Chief Easy Liner-Frame Machine, a Miller Spot Welder, a Paint Mixing System, Jacks Mills, a Mohawk Lift, and a powerful 10-horsepower compressor housed in the basement. Currently employing five skilled technicians, the business enjoys a loyal customer base and a proven track record of profitability. All necessary licenses and permits are in place, ensuring a smooth transition for the new owner. The lease terms are negotiable, and the seller is open to financing options, including potentially holding a portion of the mortgage. This represents a rare chance to acquire a profitable, established business with significant growth potential in a desirable location. The asking price for this exceptional opportunity is $1,300,000.

• CAP approach

  CAP return

  Valuation

  6%

  $724,762

  6.5%

  $669,011

  7%

  $621,225

• Comparable approach

  Method

  Valuation

  Relative Method

  $505,393

  Geo Method

  $505,393

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,317,130

  Retail / Commercial

  $675,417

  Mixed-Use / Specialty

  $673,009

  Hospitality / Lodging

  $493,766

  Office

  $669,011

  Institutional / Educational

  $699,658

  Residential Income

  $818,600

  Multifamily

  $981,785

  Automotive / Energy

  $599,707

  Parking / Income-Based Land

  $206,952

  Restaurant / Food Service

  $350,037

  Healthcare / Senior Housing

  $690,158

Location Insight

City

Newark

County

Essex

State

New Jersey

Latitude

40.7794

Longitude

-74.1555

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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