Three-Unit Multifamily
New
For Sale
$804,900
111 Highland Avenue, Newark, NJ 07104
MULTI_FAMILY - Newark, NJ
Property Size4,396 SF
Lot Size0.05 Acres
Price / SF$183.10
Days on Market7
Property Features for 111 Highland Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 5, Bathroom 2, Bedroom 1, Bedroom 7, Bathroom 1, Bedroom 8, Basement, Bathroom 4, Bedroom 6, Bedroom 4, Bedroom 5
Parking
2
Basement
Finished, Full
Elementary school
Ivy Hill
High school
West Side
Directions
GPS
Standard status
Active
APN
14-00538-0000-00055
Size
4,396 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8274
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2002
Floors in Building
3
Number of units
3
Listing Agency:
VRI Homes
(732) 264-9593
Listed By:
William Chudzik
(732) 264-9593
Added: Aug 3
Changed: Aug 7
Last Checked: Aug 9 at 11:06PM
MLS# 22623824
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit multifamily property at 111 Highland Avenue includes approximately 4,396 square feet on a 0.05-acre lot. The building dates to 2002 and contains eight bedrooms, five bathrooms, and a basement. Central air conditioning and forced-air heating serve the property, while public water and public sewer are in place.
The property is fully rented and situated in Newark, within Essex County. Its location provides proximity to transportation, shopping, and entertainment. Showings require 24-hour notice.
The property is fully rented and situated in Newark, within Essex County. Its location provides proximity to transportation, shopping, and entertainment. Showings require 24-hour notice.
Key Highlights
- Three‑unit multifamily property at 111 Highland Avenue, Newark, NJ 07104
- 4,396 square feet on a 0.05‑acre lot
- Built in 2002 with 8 bedrooms and 5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$68,835
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,376,700
$1.4M
Cap Rate 7%
$983,357
$983.4K
Cap Rate 9%
$764,833
$764.8K
Market Conditions
NOI Build-Up for 4,396 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$131.9K $30.00/SF
− Vacancy
−$6.7K −$1.53/SF
EGI
$125.2K $28.47/SF
− OpEx
−$56.3K −$12.81/SF
NOI
$68.8K $15.66/SF
Area
ZIP 07104
Vacancy
5.10%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,376,700
Cap Rate 7%
$983,357
Cap Rate 9%
$764,833
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$935.6K – $1.25M
NOI $74,846 @ 7.0% cap · market cap 9.30%
Second Best
Apartment 5plus
$983.4K
$860.4K – $1.15M
NOI $68,835 @ 7.0% cap · market cap 8.55%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,336 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,187
Businesses Nearby
Explore this area
Business Placement
Demographics for 07104, NJ
54,051
Population
21,762
Households
2.5
Avg Household Size
35
Median Age
21%
College-Educated
71%
High-School Grad
2.5 sq mi
ZIP Area
21,620
Density / Sq Mi
$51,199
Median Household Income
$36,139
Median Earnings
$1,343
Median Rent
$337,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully rented triplex with central air, forced-air heating, and public utilities.
Where is this triplex located?
The property is located at 111 Highland Avenue Newark, NJ.
What is the asking price?
The asking price for this property is $804,900.
What are key features of this property?
This property features: Three‑unit multifamily property at 111 Highland Avenue, Newark, NJ 07104; 4,396 square feet on a 0.05‑acre lot; Built in 2002 with 8 bedrooms and 5 bathrooms
