104 Market StNewark, NJ 07102

For Sale
$1,200,000

High-Yield Retail Investment, Vacant

Overview

Added:
Dec 11, 2024
Days on market:
93
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.

Highlights

  • Three-story, 5,000 square foot storefront at 104 Market Street, Newark, NJ.
  • Currently vacant, offering significant value-add potential.
  • Features ground-level retail, two floors of commercial space, and a full basement; zoned RDV.
  • $1,200,000 asking price ($240/SF), with a 10.28% cap rate and $123,314 NOI.
  • Two units, ready for immediate occupancy; vacated April 11, 2021.

Property Details for 104 Market St

Property type
Other retail properties, Individual retail properties
Square Feet
5,000 SF
Stories
3
Units
2

Location Insight

City
Newark
County
Essex
State
New Jersey
Latitude
40.7361421
Longitude
-74.1747338
104 Market St, Newark, New Jersey

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104 Market St
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