456 Market StNewark, NJ 07107

Property Details for 456 Market St

Construction

BRICK

Lot size

0.36 AC

Property type

Commercial real estate

APN

14 01854-0000-00006

APU

1401854000000006

Description

This exceptional investment opportunity presents a recently renovated gas station and convenience store located at 456 W Market St, Newark, NJ 07107. The property boasts a substantial 3,000 square feet of retail space situated on a 0.36-acre lot (Block 1854, Lot 6) in Essex County. The existing business is included in the sale, offering immediate cash flow and significant upside potential. The property's strong performance is reflected in its impressive 10% capitalization rate. The 2022 property taxes were $14,944. This multi-tenant retail property is ideally positioned for continued growth and profitability, making it an attractive investment for discerning buyers seeking a high-yield asset in a dynamic market. The property's recent renovations ensure modern amenities and efficient operations, minimizing future capital expenditures. This turnkey operation provides a seamless transition for new ownership, allowing for immediate revenue generation and long-term value appreciation. The strategic location in Newark, New Jersey, offers excellent visibility and accessibility, attracting a consistent flow of customers. This is a rare opportunity to acquire a well-established, high-performing retail property with substantial growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,947,390

  6.5%

  $2,720,670

  7%

  $2,526,340

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,055,280

  Geo Method

  $2,055,280

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $5,356,370

  Retail / Commercial

  $2,746,720

  Mixed-Use / Specialty

  $2,736,930

  Hospitality / Lodging

  $2,008,000

  Office

  $2,720,670

  Institutional / Educational

  $2,845,300

  Residential Income

  $3,329,000

  Multifamily

  $3,992,630

  Automotive / Energy

  $2,438,830

  Parking / Income-Based Land

  $841,611

  Restaurant / Food Service

  $1,423,500

  Healthcare / Senior Housing

  $2,806,670

Location Insight

City

Newark

County

Essex

State

New Jersey

Latitude

40.7493

Longitude

-74.1937

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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