Development Opportunity in University
For Sale
$1,600,000
303 Morris Ave, Newark, NJ 07103
Five lots approved for 27 units and commercial space.
Property SizeContact for details
Lot Size0.28 Acres
Days on Market258
Property Features for 303 Morris Ave
General Information
Standard status
Active
Lot size
0.28 Acres
Property subtype
Land
Taxes and HOA fees
Annual Taxes
$1,140
Listing Agency:
SIGNATURE REALTY NJ
(973) 921-1111
Listed By:
DANIEL F. SANTOS
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 13 at 10:02AM
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 SIGNATURE REALTY NJ
Investment Insights
Based on property information with market context.
An unparalleled development opportunity is available in the University Heights section of Newark. The site consists of five contiguous lots at 303 Morris Ave. The property has shovel-ready approvals for a 27-unit residential building. The building plans also include approximately 5,500 square feet of ground-floor commercial space. The parcel is located in a transit-oriented neighborhood near universities and downtown Newark. The surrounding area features established apartment communities and academic facilities. This location provides strong rental demand and excellent walkability to transit, universities, and downtown Newark. This property is suited for developers and investors seeking a multifamily and retail project in a high-growth area.
Key Highlights
- Shovel‑ready approvals for a 27‑unit residential building with 5,500 SF of commercial space.
- Five contiguous lots in Newark's University Heights.
- Strong rental demand due to proximity to universities and established apartment communities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,377
Businesses Nearby
Explore this area
Business Placement
Demographics for 07103, NJ
39,439
Population
13,832
Households
2.9
Avg Household Size
30
Median Age
21%
College-Educated
81%
High-School Grad
2.2 sq mi
ZIP Area
17,927
Density / Sq Mi
$42,397
Median Household Income
$34,278
Median Earnings
$1,289
Median Rent
$259,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Land - Five lots approved for 27 units and commercial space.
Where is this land located?
The property is located at 303 Morris Ave Newark, NJ.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Shovel‑ready approvals for a **27‑unit residential building with 5,500 SF of commercial space**.; Five contiguous lots in Newark's University Heights.; Strong rental demand due to proximity to universities and established apartment communities.
