Ground-Up Three-Unit
For Sale
$1,099,900
106 S 7Th St, Newark, NJ 07107
Ground-up triplex built in 2026 with six bathrooms and nine bedrooms, plus buyer-selected finishes during construction.
Property Size5,204 SF
Price / SF$211.36
Days on Market13
Property Features for 106 S 7Th St
General Information
Standard status
Active
Size
5,204 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,174
Building Details
Year Built
2026
Buildings
1
Units
3
Tenancy
Multi
Listing Agency:
JD FRANCES REALTY & G.R.
(973) 744-2700
Listed By:
DEANNA F. SERY · License #282354
Source:
Elliman
Added: Jul 28
Changed: Aug 8
Last Checked: Aug 9 at 6:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JD FRANCES REALTY & G.R.
Investment Insights
Based on property information with market context.
This ground-up three-unit triplex is being built from the ground up with 5,204 SQ-FT of living space. Construction is underway as a new development, and the seller will allow the buyer(s) to pick finishes before construction is completed. The layout is designed as a three-family property with nine bedrooms and six bathrooms.
BikeScore is 50 (bikeable) and walkScore is 69 (somewhat walkable). transitScore is 61 (good transit).
Built in 2026, the property offers a fresh, modern configuration where finishes can be selected before completion, supporting both owner-occupant and rental uses common to a three-family asset.
BikeScore is 50 (bikeable) and walkScore is 69 (somewhat walkable). transitScore is 61 (good transit).
Built in 2026, the property offers a fresh, modern configuration where finishes can be selected before completion, supporting both owner-occupant and rental uses common to a three-family asset.
Key Highlights
- 5,204 SQ‑FT of living space in a ground‑up three‑unit triplex
- Built in 2026
- Seller allows buyer(s) to pick finishes before construction is completed
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
$88,815
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
8.07%
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%
$1,776,300
$1.8M
Cap Rate 7%
$1,268,786
$1.3M
Cap Rate 9%
$986,833
$986.8K
Market Conditions
NOI Build-Up for 5,204 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
$134.3K $25.80/SF
− Vacancy
−$7.4K −$1.42/SF
EGI
$126.9K $24.38/SF
− OpEx
−$38.1K −$7.31/SF
NOI
$88.8K $17.07/SF
Area
ZIP 07107
Vacancy
5.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,776,300
Cap Rate 7%
$1,268,786
Cap Rate 9%
$986,833
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $88,815 @ 7.0% cap · market cap 8.07%
Second Best
Apartment 5plus
$1.14M
$997.2K – $1.33M
NOI $79,773 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,506 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,673
Businesses Nearby
Explore this area
Business Placement
Demographics for 07107, NJ
41,627
Population
16,084
Households
2.6
Avg Household Size
33
Median Age
13%
College-Educated
77%
High-School Grad
1.6 sq mi
ZIP Area
26,017
Density / Sq Mi
$49,892
Median Household Income
$35,700
Median Earnings
$1,259
Median Rent
$353,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Ground-up triplex built in 2026 with six bathrooms and nine bedrooms, plus buyer-selected finishes during construction.
Where is this triplex located?
The property is located at 106 S 7Th St Newark, NJ.
What is the asking price?
The asking price for this property is $1,099,900.
What are key features of this property?
This property features: 5,204 SQ‑FT of living space in a ground‑up three‑unit triplex; Built in 2026; Seller allows buyer(s) to pick finishes before construction is completed
