104 Market StNewark, NJ 07102

Property Details for 104 Market St

Construction

BRICK

Lot size

0.05 AC

Property type

Commercial real estate

APN

14 00060-0000-00023

APU

1400060000000023

Description

This exceptional value-add investment opportunity presents a three-story, 5,000 square foot storefront located at 104 Market Street in Newark, New Jersey's vibrant Essex County. Currently vacant, the property offers significant upside potential for a savvy investor. The building features ground-level retail space, two floors of commercial space ideal for various uses, and a full basement providing ample storage. The building is zoned (RDV) Special District. With a current Net Operating Income (NOI) of $123,314 and a compelling 10.28% capitalization rate, this property represents a strong return on investment. The asking price is $1,200,000, translating to $240 per square foot. The property consists of two units and is ready for immediate occupancy. The building was vacated on April 11, 2021, allowing for immediate renovation and lease-up to maximize rental income. This prime location in Newark offers excellent visibility and accessibility, making it an attractive proposition for a wide range of retail businesses. The property's strong fundamentals and potential for increased NOI make it an ideal addition to any commercial real estate portfolio. Don't miss this chance to acquire a high-yield retail property in a rapidly developing market.

• CAP approach

  CAP return

  Valuation

  6%

  $374,560

  6.5%

  $345,748

  7%

  $321,052

• Comparable approach

  Method

  Valuation

  Relative Method

  $261,189

  Geo Method

  $261,189

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $680,698

  Retail / Commercial

  $349,059

  Mixed-Use / Specialty

  $347,814

  Hospitality / Lodging

  $255,180

  Office

  $345,748

  Institutional / Educational

  $361,587

  Residential Income

  $423,056

  Multifamily

  $507,391

  Automotive / Energy

  $309,931

  Parking / Income-Based Land

  $106,954

  Restaurant / Food Service

  $180,901

  Healthcare / Senior Housing

  $356,677

Location Insight

City

Newark

County

Essex

State

New Jersey

Latitude

40.736

Longitude

-74.1748

CBSA code

35620

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].