31 Merchant StNewark, NJ 07105

This exceptional 40,000 square foot storefront property, located at 31 Merchant Street in Newark, New Jersey's Essex County (zip code 07105), presents a compelling investment opportunity. Built in 1940 and extensively renovated just four years ago, the building boasts a strong 5.00% capitalization rate and a Net Operating Income (NOI) of $425,000, with an asking price of $7,500,000. The property's permitted mixed-use zoning allows for diverse development possibilities. The building features seven street-level retail spaces, two floors of office space (comprising 14 offices), and a large open attic space on the third floor, currently undergoing remodeling. Its strategic location, just ten blocks from Penn Station and five minutes from Newark Liberty International Airport and Port Newark, offers unparalleled access to transportation and a thriving commercial environment. This property is situated in the heart of Newark's Ironbound district, a vibrant and densely populated area with high foot traffic and significant commercial activity. The entire 40,000 square feet is net rentable. This is a rare chance to acquire a substantial, well-located retail property with significant upside potential.