566 Hawthorne Ave Newark, NJ 07112
Mixed-use property featuring a grocery store, apartments, and parking.
Property Features for 566 Hawthorne Ave
General Information
- Standard status
- Active
- Size
- 4,941 SF
Listing office NEW DIRECTION REALTY
Listing date May 7, 2025
Source Corcoran
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Investment Insights
Based on property information with market context.
Key Highlights
- Existing grocery store/retail space (2880 sqf) with new shelving, signage, and equipment (3‑door fridge, custom counter, deli prep table, POS kiosk, security system).
- Three renovated apartments (one 1‑bedroom, two 2‑bedroom) providing immediate rental income potential.
- Parking lot generates $2,000 monthly income from truck parking.
Local Financial Insights For Specialty Retail
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 | $154.2k | $31.20 |
| − Vacancy | −$12.3k | −$2.50 |
| EGI | $141.8k | $28.70 |
| − OpEx | −$35.5k | −$7.18 |
| NOI | $106.4k | $21.53 |
