Downtown Newark Mixed-Use Redevelopment
For Sale
$1,695,000
118 Market St, Newark, NJ 07102
8,000 SF asset in Newark's commercial corridor.
Property Size10,000 SF
Price / SF$169.50
Days on Market109
Property Features for 118 Market St
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$29,116
Listing Agency:
REALTY OF AMERICA
(833) 256-4244
Listed By:
KEVIN SHARKEY
Source:
Corcoran
Added: May 14
Changed: Aug 14
Last Checked: Aug 30 at 5:29PM
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 REALTY OF AMERICA
Investment Insights
Based on property information with market context.
Located in the heart of Downtown Newark's primary commercial area, 118-122 Market Street presents an 8,000 SF property with immediate value-add potential and long-term redevelopment possibilities for mixed-use purposes. The property is situated in a rapidly developing, transit-oriented area fueled by residential growth and redevelopment, surrounded by major institutions such as Prudential Financial, Prudential Center, New Jersey Performing Arts Center, Rutgers University-Newark, and New Jersey Institute of Technology. It features two attached commercial units and a flexible second-floor layout suitable for conversion. Basement storage is available to support retail or redevelopment. The property is best suited for a developer to construct residential units for the surrounding Universities and Business District employees. The property size is 10,000 SF.
Key Highlights
- Prime Downtown Newark location in the main commercial corridor.
- Immediate value‑add and long‑term redevelopment potential for mixed‑use.
- Surrounded by major anchors including Prudential Financial, Prudential Center, NJPAC, Rutgers‑Newark, and NJIT.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,014
Businesses Nearby
Explore this area
Business Placement
Demographics for 07102, NJ
15,047
Population
6,574
Households
2.3
Avg Household Size
34
Median Age
30%
College-Educated
82%
High-School Grad
1.1 sq mi
ZIP Area
13,679
Density / Sq Mi
$37,093
Median Household Income
$42,234
Median Earnings
$1,141
Median Rent
$293,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 8,000 SF asset in Newark's commercial corridor.
Where is this mixed-use property located?
The property is located at 118 Market St Newark, NJ.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Prime Downtown Newark location in the main commercial corridor.; Immediate value‑add and long‑term redevelopment potential for mixed‑use.; Surrounded by major anchors including Prudential Financial, Prudential Center, NJPAC, Rutgers‑Newark, and NJIT.
