Mixed-Use Property in
217 Frelinghuysen Ave Newark, NJ 07114
217 Frelinghuysen Ave, Newark, NJ, 07114
$2,249,000
For Sale
$2,249,000
Two-story building with restaurant and apartments for sale.
Property Size8,593 SF
Lot Size0.13 Acres
Price / SF$261.72
Days on Market827
Property Features for 217 Frelinghuysen Ave
General Information
- Standard status
- Active
- Size
- 8,593 SF
- Lot size
- 0.13 Acres
- Property subtype
- Commercial
Listing Agency
REAL
(855) 450-0442
Listed by
JULISSA RENGIFO
Source
Corcoran
Added: Apr 16, 2024 Updated: Jul 10 at 3:47 pm Checked: Jul 20 at 3:48 am
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 REAL
Investment Insights
Based on property information with market context.
This two-story mixed-use property is located on a well-traveled avenue in Newark. The building features an established diner/restaurant on the ground level, complete with a liquor license. Additionally, the property includes two residential apartments located above the restaurant. The property provides multiple income streams from a single asset. The property size is 8593 square feet.
Key Highlights
- Mixed‑use property featuring an established diner/restaurant and two residential apartments.
- Diner/restaurant includes a liquor license.
- Located on a well‑traveled avenue in Newark.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $268.1k | $31.20 |
| − Vacancy | −$21.4k | −$2.50 |
| EGI | $246.7k | $28.70 |
| − OpEx | −$61.7k | −$7.18 |
| NOI | $185.0k | $21.53 |
8,593 SF · lease $31.20/SF/yr · vacancy 8.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.64M
$2.31M – $3.08M
NOI $184,990 @ 7.0% cap · market cap 8.23%
Second Best
Mixed Use
$1.96M
$1.71M – $2.28M
NOI $136,951 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$3.04M
$2.66M – $3.55M
NOI $213,124 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Two-story building with restaurant and apartments for sale.
Where is this mixed-use property located?
The property is located at 217 Frelinghuysen Ave Newark, NJ.
What is the asking price?
The asking price for this property is $2,249,000.
What are key features of this property?
This property features: Mixed‑use property featuring an established diner/restaurant and two residential apartments.; Diner/restaurant includes a liquor license.; Located on a well‑traveled avenue in Newark.
