Exceptional investment opportunity in the heart of Newark. This newly constructed 3-story mixed-use building features three residential units and two ground-floor commercial spaces a retail unit (1,132 SF) and an office unit (511 SF). All three apartments are currently leased at $2,300/month each on 3-year leases expiring in 2027, offering stable, in-place cash flow. The commercial units are presently owner-occupied on a month-to-month basis, allowing for flexible occupancy or immediate leasing upside. Both spaces will also be actively marketed for lease, making this a prime opportunity for investors, owner-users, or hybrid retail/residential operators. The property benefits from a valuable 5-year tax abatement, with reduced property taxes structured as follows: Year 1 " 0%, Year 2 " 20%, Year 3 " 40%, Year 4 " 60%, and Year 5 " 80% of full taxes. Located along the South Orange Avenue ...
Exceptional investment opportunity in the heart of Newark. This newly constructed 3-story mixed-use building features three residential units and two ground-floor commercial spaces a retail unit (1,132 SF) and an office unit (511 SF). All three apartments are currently leased at $2,300/month each on 3-year leases expiring in 2027, offering stable, in-place cash flow. The commercial units are presently owner-occupied on a month-to-month basis, allowing for flexible occupancy or immediate leasing upside. Both spaces will also be actively marketed for lease, making this a prime opportunity for investors, owner-users, or hybrid retail/residential operators. The property benefits from a valuable 5-year tax abatement, with reduced property taxes structured as follows: Year 1 " 0%, Year 2 " 20%, Year 3 " 40%, Year 4 " 60%, and Year 5 " 80% of full taxes. Located along the South Orange Avenue corridor, this asset is well positioned for long-term growth with convenient access to major highways, public transportation, and Newark's institutional and residential hubs. A rare chance to acquire a turnkey building with strong rental income and immediate commercial upside.
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