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    Newark Warehouse with Mechanic Shop Title is generated by Realmo AI

    236 Park Ave, Newark, NJ 07107

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    For Sale
    $1,900,000

    Commercial - Newark City, NJ

    Property size:
    11,519 SF
    Lot size:
    0.06 Acres
    Price / SF:
    $164/SF
    Added:
    Feb 17, 2026
    Days on Market:
    89
    Last Refresh:
    May 17 at 1:06 am

    Property Features for 236 Park Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C-2
    Standard status
    Active
    Size
    11,519 SF
    Lot size
    0.06 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    24902

    Building Details

    Floors in Building
    1
    Number of units
    1
    Building materials
    Block, Brick
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    JOSEPH GORDILLO

    Listing agent JOSEPH GORDILLO

    Listing office EXP REALTY, LLC 28 VALLEY ROAD, Montclair, NJ

    Listing date Feb 17, 2026

    MLS# 4010207 Listing URL

    Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 11,000+ SF warehouse in PRIME Newark location.
    • Direct access to I‑280, Route 21, and Port Newark.
    • Currently equipped as a mechanic shop with 7 lifts and other equipment.
    • Excellent owner‑user or investor opportunity.
    • Located in one of Newark's strongest industrial submarkets.
    • Construction materials: Block and Brick; Roof: Flat.

    Overview

    This property is an 11,000+ SF warehouse located in Newark City, NJ, with direct access to I-280, Route 21, and Port Newark. The property is currently operating as a mechanic shop, including 7 lifts, an alignment machine, 2 wheel balancers, and AC compressors. All tools needed to run a high-volume mechanic shop are included. Situated in one of Newark's industrial submarkets, this property presents an opportunity for an owner-user or investor. The lot size is 0.06 acres. The zoning is C-2. The property potentially can be zoned for auto-body; verification with the township is recommended. The property is for sale only; the business is sold separately.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $1.73M
    NOI $155,880 @ 9.00% cap · cautious / downside scenario
    Moderate
    $2.23M
    NOI $155,880 @ 7.00% cap · market / base-case scenario
    Aggressive
    $3.12M
    NOI $155,880 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $248.8k $21.60
    − Vacancy −$26.1k −$2.27
    EGI $222.7k $19.33
    − OpEx −$66.8k −$5.80
    NOI $155.9k $13.53
    11,519 SF · lease $21.60/SF/yr · vacancy 10.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $2.23M
    $1.95M – $2.60M (±1% cap)
    NOI $155,880 @ 7.0% cap · market cap 8.20%
    Second Best
    Warehouse
    $2.06M
    $1.80M – $2.40M (±1% cap)
    NOI $143,883 @ 7.0% cap · market cap 7.57%
    Theoretical Best
    Office A
    $4.51M
    $3.94M – $5.26M (±1% cap)
    NOI $315,436 @ 7.0% cap · market cap 16.60%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Génesis 15 Bakery ... Restaurant Park Avenue Auto ... Auto Repair Shop Genesis (Mexican bakery) Bakery

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Branch Brook Park Boat House — Branch Brook Pk Roller Rink, Newark, NJ 07104
    • Sonic Self Storage Unit Facility — 492 Orange St, Newark, NJ 07107
    • Life Storage — 50 Gould Ave, Newark, NJ 07107
    • Liberty Moving Group
    • Extra Space Storage — 272 Sussex Ave, Newark, NJ 07107

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1854
    Latitude
    40.7584

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    FAQs

    What type of property is this?
    Warehouse - 11,000+ SF warehouse with mechanic shop in Newark City.
    Where is this warehouse located?
    The property is located at 236 Park Ave Newark, NJ.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: 11,000+ SF warehouse in PRIME Newark location.; Direct access to I‑280, Route 21, and Port Newark.; Currently equipped as a mechanic shop with 7 lifts and other equipment.
    (866) 201-6210
    We can help!
    Listing Contact
    JOSEPH GORDILLO
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    236 Park Ave, Newark City, NJ 07107-2349
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