Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    105 E Miller St Newark, NY 14513

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $128,900

    Commercial storefront with a fully rented two-bedroom apartment.

    Lot size:
    0.03 Acres

    Property Features for 105 E Miller St

    General Information

    Lot size
    0.03 Acres

    Building Details

    Year built
    1930

    We can help!

    Listing Contact
    Belinda A. Fratto
    Belinda A. Fratto
    Source: Elliman

    Listing Agent: Belinda A. Fratto

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Commercial Storefront with Rented Apartment

    This property presents an opportunity to own a commercial storefront building that includes a fully rented two-bedroom apartment. The commercial space benefits from excellent visibility and large front windows, creating a bright and welcoming atmosphere suitable for various business types. Recent updates include a newer mini-split heating and cooling system, thermal windows, fresh paint, updated flooring, and a recently recoated roof. The apartment has been renovated with a newer kitchen and bath, updated windows, and fresh paint throughout, providing a comfortable living space. Ample parking is available in the side parking lot, adding convenience for both tenants and customers. The apartment is currently rented for $1,200 per month with a lease in place until spring of 2026, providing immediate income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    T & C Gunsmithing Gun Shop Blue Line Graphics ... Graphic Designer

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Wayne
    State
    New York
    Longitude
    -77.095571
    Latitude
    43.045942

    Nearby Similar for Sale

    • $310,000
      Pending

      Newark Multifamily on 3 Acres

      Well-maintained 3-unit multifamily property on a private 3-acre lot.
      6007 Clark Rd, Newark, NY 14513
      View Details
    • $700,000
      7,370 SF

      Turnkey Restaurant with Apartment and Garage

      Fully operational 182-seat restaurant with apartment and garage in Newark.
      1121 E Union St, Newark, NY 14513
      View Details
    • $700,000

      Turnkey Restaurant with Apartment & Garage

      Established 182-seat restaurant with apartment and garage in Newark, NY.
      1121 E Union St, Newark, NY 14513
      View Details
    • $169,900

      Commercial Garage with High Ceilings

      Commercial/industrial property featuring a 3-bay garage with high doors and ceilings.
      97 East Ave, Newark, NY 14513
      View Details
    • $136,500

      Updated Commercial Space in Newark

      Prime commercial space with high visibility and foot traffic.
      508 S Main St, Newark, NY 14513
      View Details
    • $219,900

      Village Duplex with Updated Apartments

      Desirable duplex with updated units in a prime location.
      106 Jefferson St, Newark, NY 14513
      View Details
    • $165,000

      Spacious Commercial Property with Patios

      Roomy commercial property with patios, ideal for various businesses.
      145 Railroad Ave, Newark, NY 14513
      View Details
    • $99,900

      Village Two-Family Home Opportunity

      Two-family home in Newark, ideal for owners or investors.
      128 Prospect St, Newark, NY 14513
      View Details
    • $750,000

      Mobile Home Park For Sale

      Mobile home park featuring tenant and park owned homes.
      3767 Fairville Maple Ridge Rd, Newark, NY 14513
      View Details
    • $950,000
      7,370 SF

      Newark Restaurant & Apartment

      Turnkey Restaurant, Apartment, Garage
      1121 Union St, Newark, NY 14513
      View Details
    • $240,000
      2,846 SF

      Newark, NY Retail Opportunity

      Former Pizza Hut, 2846 sq ft, $240,000
      224 Union St, Newark, NY 14513
      View Details

    FAQs

    What type of property is this?
    Storefront property - Commercial storefront with a fully rented two-bedroom apartment.
    Where is this storefront property located?
    The property is located at 105 E Miller St Newark, NY.
    What is the asking price?
    The asking price for this property is $128,900.
    What are key features of this property?
    This property features: - Income-generating property with a fully rented two-bedroom apartment providing immediate income of $1,200 per month with a lease in place until spring of 2026; - Versatile commercial storefront with excellent visibility and large front windows; - Tastefully renovated two-bedroom apartment with a newer kitchen and bath, updated windows, and fresh paint
    (315) 521-7413
    Request Owner's contact information
    105 E Miller St Newark, NY 14513
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    105 E Miller St
    Newark, NY 14513
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    105 E Miller St Newark, NY 14513
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Belinda A. Fratto
    Belinda A. Fratto
    (315) 521-7413
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.