Mixed-Use Building Near
116 Wright St Newark, NJ 07114
For Sale
$599,000
Pending
Mixed-use property featuring light industrial space and residential unit.
Property Size1,800 SF
Lot Size0.03 Acres
Days on Market184
Property Features for 116 Wright St
General Information
- Standard status
- Pending
- Size
- 1,800 SF
- Lot size
- 0.03 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 2014
Listing Agency:
ELITE REALTORS OF NEW JERSEY
(973) 994-9009
Listed By:
EDWIN DEVIA
Source:
Corcoran
Added: Jan 22
Changed: Jul 10
Last Checked: Jul 23 at 9:25AM
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 ELITE REALTORS OF NEW JERSEY
Investment Insights
Based on property information with market context.
This mixed-use building features a first floor zoned for light industrial use, suitable for combining living and working spaces. The property is located close to major highways and is approximately 5 minutes from Newark Liberty International Airport (EWR). The building is solar powered and includes battery backup for use during emergencies. An EV charging station is available. A new roof is planned for 2025. The property size is 1,800 square feet.
Key Highlights
- Mixed‑use property: Live upstairs, work downstairs
- Close proximity to major highways and EWR (5 minutes)
- Solar powered with battery backup
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.0k | $30.00 |
| − Vacancy | −$8.1k | −$4.50 |
| EGI | $45.9k | $25.50 |
| − OpEx | −$17.2k | −$9.56 |
| NOI | $28.7k | $15.94 |
1,800 SF · lease $30.00/SF/yr · vacancy 15.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$409.8K
$358.6K – $478.1K
NOI $28,688 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$637.8K
$558.1K – $744.1K
NOI $44,644 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
NJRAS
Car Rental Facility
NJ MOTO TOW
Auto Repair Shop
FAQs
What type of property is this?
Mixed-use property - Mixed-use property featuring light industrial space and residential unit.
Where is this mixed-use property located?
The property is located at 116 Wright St Newark, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Mixed‑use property: Live upstairs, work downstairs; Close proximity to major highways and EWR (5 minutes); Solar powered with battery backup
