Add Listing
    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

    70 Park Ave Newark, NJ 07104

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $145,000

    Well-established tailoring and dry cleaning business for sale.

    Property Features for 70 Park Ave

    General Information

    Property type
    Other
    Standard status
    Active

    We can help!

    Listing Contact
    Agustin Alicea
    Source: Elliman

    Listing Agency: LIFESTYLE INTERNATIONAL REALTY Listing Agent: Agustin Alicea

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

    Learn more

    Property Insight Report

    Overview

    Established Tailoring and Dry Cleaning

    This well-established tailoring and dry cleaning business has proudly served the community for over 25 years. The business has a strong foundation, a consistent and loyal customer base, and steady revenue. It is fully equipped for continued success. The business is located at 70 Park Ave, Newark, NJ 07104-1016.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lorenzo Tailor & Dry ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1761406
    Latitude
    40.7557256

    Nearby Similar for Sale

    • New
      $4,000,000
      9,999 SF

      Newark City Commercial Opportunity

      Commercial building in established Newark neighborhood, suitable for medical practices.
      461-467 Mount Prospect Ave, Newark, NJ 07104
      View Details
    • $79,999
      999 SF

      Established Business in Newark City

      Active business with salon layout, multiple income streams, loyal clientele.
      8 Alyea St, Newark, NJ 07105
      View Details
    • $2,249,000
      8,593 SF

      Newark Mixed-Use Investment Opportunity

      Two-story building with restaurant, liquor license, and apartments.
      217 Frelinghuysen Ave, Newark, NJ 07114
      View Details
    • $1,900,000
      11,519 SF

      Newark Warehouse with Mechanic Shop

      11,000+ SF warehouse with mechanic shop in Newark City.
      236 Park Ave, Newark, NJ 07107
      View Details
    • $899,777
      2,763 SF

      Newark City Mixed-Use Property

      Mixed-use property in Newark City, New Jersey, for sale.
      595 N 5Th St, Newark, NJ 07107
      View Details
    • $924,999

      Newer Two-Family Home in Newark

      Turn-key two-family home with income potential and tax savings.
      319 Renner Ave, Newark, NJ 07112
      View Details
    • $2,950,000
      0.20 Acres

      Newark Commercial Building For Sale

      17,360 sqft commercial building in Newark's Forrest Hill section.
      245-249 Verona Ave, Newark, NJ 07104
      View Details
    • $700,000
      3,700 SF

      Spacious Multi-Family Residence in Newark

      3,700 sq ft three-family residence with strong income potential.
      266 Littleton Ave, Newark, NJ 07103
      View Details
    • $635,000
      Pending

      Spacious Newark Multifamily Investment Property

      Three-unit property with strong rental income potential near amenities.
      16 Alexander St, Newark, NJ 07106
      View Details
    • $1,999,000
      7,450 SF

      Newark Mixed-Use Commercial Opportunity

      Multi-use asset in Newark's promising growth corridor.
      707 Frelinghuysen Ave, Newark, NJ 07114
      View Details
    • $1,999,000
      6,250 SF

      Newark Commercial Property with Storefronts

      Versatile Newark property with warehouses and high-traffic storefronts for sale.
      34 Foster St, Newark, NJ 07114
      View Details
    • New
      $925,000
      2,040 SF

      Renovated Multi-Unit Home in Newark

      Three-unit, three-story renovated home with income potential in Newark City.
      345 Summer Ave, Newark, NJ 07104
      View Details

    FAQs

    What type of property is this?
    Retail space - Well-established tailoring and dry cleaning business for sale.
    Where is this retail space located?
    The property is located at 70 Park Ave Newark, NJ.
    What is the asking price?
    The asking price for this property is $145,000.
    What are key features of this property?
    This property features: - Well-established tailoring and dry cleaning business with 25+ years of operation.; - Prime location.; - Consistent and loyal customer base.
    (908) 233-9292
    Request Owner's contact information
    70 Park Ave Newark, NJ 07104
    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.
    70 Park Ave
    Newark, NJ 07104
    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
    70 Park Ave Newark, NJ 07104
    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
    Agustin Alicea
    Real Estate License ID: 2078842
    (908) 233-9292 (201) 559-5770
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!