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$ 649,500
Est. payment | /mo
2,613 Sqft Lot
$ 649,500
Est. payment | /mo
2,613 Sqft Lot
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 4032963
Year Built 1920
Annual Tax Amount $9,573
Tax Year 2025
Lot Size 2,613 Sqft
Property Sub-Type Mixed Use
Property Description
Exceptional mixed-use investment opportunity in North Newark! This well-maintained two-unit property offers strong, stable cash flow with long-term tenancy in place and significant upside for investors seeking a turnkey asset. The ground-floor commercial space is occupied by a successful neighborhood grocery store with 12 years remaining on the lease, providing reliable income and built-in 3% annual rent increases. The business is NOT for sale. The second-floor residential unit features 4 bedrooms, 1 full bathroom, den/office and is currently rented on a month-to-month basis, offering flexibility for future rent adjustments or owner-user possibilities. Current rental income: Commercial Unit: $3,550/month (12 years remaining, 3% annual escalations) Residential Unit: $2,420.50/month (month-to-month)With low annual taxes of just $9,573.61 and a desirable mixed-use configuration, this property delivers excellent cash flow potential and long-term income growth. Conveniently located on a busy street with strong visibility, consistent foot traffic, and easy access to major highways, public transportation, shopping, and local amenities.
Location
State NJ
County Essex
Zoning .
Rooms
Basement Bilco-Style Door
Interior
Heating Gas-Natural
Cooling 1 Unit, Window A/C(s)
Flooring Laminate
Equipment Fire Alarm, Smoke Detector
Heat Source Gas-Natural
Exterior
Exterior Feature Aluminum
Utilities Available Gas-Natural
Roof Type Flat
Building
Story 2
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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Mariama Diallo
Agent | License ID: 2076339