146 Ferry StNewark, NJ 07105

Property Details for 146 Ferry St

Lot size

0.08 AC

Property type

Commercial real estate

APN

14 01989-0000-00022

APU

1401989000000022

Description

This exceptional mixed-use property at 146 Ferry Street, Newark, NJ, presents a compelling investment opportunity in the vibrant Ironbound section of the city. The three-story building, situated on a 3,294 square foot lot, encompasses 8,500 net rentable square feet and boasts a 100% occupancy rate with six tenants currently under lease. The property comprises four two-bedroom, one-bathroom apartments and two commercial units, occupied by an electronics store and a postal service center. All tenants are in good standing with separate utility meters, minimizing landlord responsibilities. The building features central air and heat. The current Net Operating Income (NOI) stands at $145,030, yielding a 5.27% capitalization rate. A pro-forma NOI of $174,070 projects a 6.33% capitalization rate, indicating significant upside potential. The property is zoned C2 and is conveniently located blocks from Newark Penn Station, offering excellent accessibility. The asking price is $2,750,000, translating to $323.53 per square foot. This stabilized investment presents a rare opportunity to acquire a well-maintained, high-performing asset in a prime Newark location. The property is offered fee simple.

• CAP approach

  CAP return

  Valuation

  6%

  $617,022

  6.5%

  $569,559

  7%

  $528,876

• Comparable approach

  Method

  Valuation

  Relative Method

  $430,263

  Geo Method

  $430,263

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,121,330

  Retail / Commercial

  $575,013

  Mixed-Use / Specialty

  $572,963

  Hospitality / Lodging

  $420,364

  Office

  $569,559

  Institutional / Educational

  $595,650

  Residential Income

  $696,911

  Multifamily

  $835,837

  Automotive / Energy

  $510,557

  Parking / Income-Based Land

  $176,187

  Restaurant / Food Service

  $298,002

  Healthcare / Senior Housing

  $587,563

Location Insight

City

Newark

County

Essex

State

New Jersey

Latitude

40.7297

Longitude

-74.1588

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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