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    692 Dr, Unit Martin Luther King J Newark, NJ 07102

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    For Sale
    $2,000,000

    Land in Lincoln Park Redevelopment Zone, Newark City.

    Property size:
    6,362 SF
    Lot size:
    0.23 Acres

    Property Features for 692 Dr

    General Information

    Standard status
    Active
    Size
    6,362 SF
    Lot size
    0.23 Acres

    Building Details

    Year built
    1880

    Source: C-21 SEMIAO AND ASSOCIATES Agent DINARA SAMMARTINO

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

    Overview

    Lincoln Park Redevelopment Zone Land

    This property is located in the Lincoln Park Redevelopment Zone. It is suitable for builders and investors. The site allows for the construction of a mid- to high-rise mixed-use building, live-work lofts, a stepped-back high-rise, or a civic/institutional structure. Construction of 3 to 6 stories is permitted, subject to city approvals. The property has a size of 6362 square feet.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1735
    Latitude
    40.7357

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    FAQs

    What type of property is this?
    Commercial land - Land in Lincoln Park Redevelopment Zone, Newark City.
    Where is this commercial land located?
    The property is located at 692 Dr, Unit Martin Luther King J 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: - Prime Location in Lincoln Park Redevelopment Zone.; - Permitted for 3-6 Story Mid- to High-Rise Development (subject to city approvals).; - Suitable for Mixed-Use Building Development.
    (201) 460-8000
    Request Owner's contact information
    692 Dr, Unit Martin Luther King J Newark, NJ 07102
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    Newark, NJ 07102
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    Realmo Value Estimation

    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.

    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.

    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
    692 Dr, Unit Martin Luther King J Newark, NJ 07102
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