Multi-Level Retail
For Sale
Contact for pricing
118 Market St, Newark, NJ 07102
Retail building offering 2,000 SF on the ground level, 2,000 SF on the second floor, and 1,000 SF in the basement.
Property Size5,000 SF
Price / SF$400
Days on Market381
Property Features for 118 Market St
General Information
Standard status
Active
Size
5,000 SF
Property subtype
RETAIL
Listing Agency:
JA Cohen Advisory Group
(718) 971-1675
Listed By:
Jack A Cohen · License #10491209522
(917) 533-8905
Source:
Moodyscre
Added: Aug 29, 2025
Changed: Sep 12
Last Checked: Sep 13 at 10:54AM
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 JA Cohen Advisory Group
Investment Insights
Based on property information with market context.
This multi-level retail building is configured with approximately 2,000 SF on the ground level, approximately 2,000 SF on the second floor, and approximately 1,000 SF in the basement. The property presents a straightforward vertical setup for retail operations that may benefit from separate levels.
The asset is located at 118 Market St in Newark, New Jersey. It is offered for sale.
Total building size is approximately 5,000 SF, comprised of the ground level, second floor, and basement spaces described above.
The asset is located at 118 Market St in Newark, New Jersey. It is offered for sale.
Total building size is approximately 5,000 SF, comprised of the ground level, second floor, and basement spaces described above.
Key Highlights
- Retail building at 18 Market Street, Newark, NJ
- 2,000 SF ground level retail space
- 2,000 SF second‑floor space
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
$95,445
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
4.77%
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%
$1,908,900
$1.9M
Cap Rate 7%
$1,363,500
$1.4M
Cap Rate 9%
$1,060,500
$1.1M
Market Conditions
NOI Build-Up for 5,000 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
$150.0K $30.00/SF
− Vacancy
−$13.7K −$2.73/SF
EGI
$136.4K $27.27/SF
− OpEx
−$40.9K −$8.18/SF
NOI
$95.4K $19.09/SF
Area
Newark, NJ
Vacancy
9.10%
Lease Rate
$30.00 /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%
$1,908,900
Cap Rate 7%
$1,363,500
Cap Rate 9%
$1,060,500
Alternative Uses
Best Use
Retail
$1.36M
$1.19M – $1.59M
NOI $95,445 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,010 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,014
Businesses Nearby
118k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 32%
Hotels & Casinos 17%
Apparel 11%
Starbucks
Dining
11,346 visits/mo
0.3 miles
Bank of America
Shops & Services
11,294 visits/mo
0.2 miles
BP
Shops & Services
11,278 visits/mo
0.4 miles
Robert Treat Hotel
Hotels & Casinos
10,442 visits/mo
0.4 miles
TD Bank
Shops & Services
10,303 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail building offering 2,000 SF on the ground level, 2,000 SF on the second floor, and 1,000 SF in the basement.
Where is this storefront property located?
The property is located at 118 Market St Newark, NJ.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Retail building at 18 Market Street, Newark, NJ; 2,000 SF ground level retail space; 2,000 SF second‑floor space
