New Construction
For Sale
$1,599,900
108 Fleming Ave, Newark, NJ 07105
Four contemporary units feature open-concept layouts, modern kitchens, natural light, and energy-efficient systems.
Property Size5,535 SF
Price / SF$289.05
Days on Market27
Property Features for 108 Fleming Ave
General Information
Standard status
Active
Size
5,535 SF
Property subtype
Residential Income
Zoning
Residential
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,362
Amenities
Natural Gas
Finished
Concrete
Fourplex
Building Details
Year Built
2025
Buildings
1
Tenancy
Multi
Listing Agency:
FLOROSTONE REALTY INC.
(908) 220-7865
Listed By:
GRISELA FLORES · License #0792631
(908) 220-7865
Source:
Evrealestate
Added: Jul 29
Changed: Aug 23
Last Checked: Aug 23 at 8:43AM
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 FLOROSTONE REALTY INC.
Investment Insights
Based on property information with market context.
Built in 2025, this fourplex includes four newly constructed units with open-concept floor plans, contemporary finishes, abundant natural light, modern kitchens, and energy-efficient systems. Unit 1 offers 2 bedrooms and 1 full bath. Units 2 and 3 each include 2 bedrooms and 2 full baths, while Unit 4 features a townhouse-style layout with 2 bedrooms and 2 full baths across three levels.
The property is located at 108 Fleming Ave in Newark, near major highways, public transportation, shopping, and dining, with access to New York City. The surrounding area has a walk score of 82, a bike score of 63, and a transit score of 49.
The property is located at 108 Fleming Ave in Newark, near major highways, public transportation, shopping, and dining, with access to New York City. The surrounding area has a walk score of 82, a bike score of 63, and a transit score of 49.
Key Highlights
- 2025 new construction fourplex with four units
- Unit mix includes four 2‑bedroom units with 1- and 2‑bath layouts
- Unit 4 offers a townhouse‑style design across three levels
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
$92,912
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
5.81%
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%
$1,858,240
$1.9M
Cap Rate 7%
$1,327,314
$1.3M
Cap Rate 9%
$1,032,356
$1.0M
Market Conditions
NOI Build-Up for 5,535 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
$139.5K $25.20/SF
− Vacancy
−$6.8K −$1.22/SF
EGI
$132.7K $23.98/SF
− OpEx
−$39.8K −$7.19/SF
NOI
$92.9K $16.79/SF
Area
ZIP 07105
Vacancy
4.84%
Lease Rate
$25.20 /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%
$1,858,240
Cap Rate 7%
$1,327,314
Cap Rate 9%
$1,032,356
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.16M – $1.55M
NOI $92,912 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.42M
NOI $84,936 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,579 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,420
Businesses Nearby
Explore this area
Business Placement
Demographics for 07105, NJ
50,870
Population
20,608
Households
2.5
Avg Household Size
35
Median Age
15%
College-Educated
70%
High-School Grad
4.6 sq mi
ZIP Area
11,059
Density / Sq Mi
$55,752
Median Household Income
$33,175
Median Earnings
$1,600
Median Rent
$445,900
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?
Quadplex - Four contemporary units feature open-concept layouts, modern kitchens, natural light, and energy-efficient systems.
Where is this quadplex located?
The property is located at 108 Fleming Ave Newark, NJ.
What is the asking price?
The asking price for this property is $1,599,900.
What are key features of this property?
This property features: 2025 new construction fourplex with four units; Unit mix includes four 2‑bedroom units with 1- and 2‑bath layouts; Unit 4 offers a townhouse‑style design across three levels
