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391 Hawthorne Ave Newark, NJ 07112

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For Sale
$900,000

Turnkey property with rental income potential in Newark.

Lot size:
0.12 Acres

Property Features for 391 Hawthorne Ave

General Information

Property type
Commercial
Standard status
Active
Lot size
0.12 Acres

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Listing Contact
Carolina Campbell
Source: Elliman

Listing Agent: Carolina Campbell

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

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Overview

Newark Investment Opportunity

This property in Newark presents an investment opportunity. The building includes three units, two of which are currently rented out on a NNN lease with a right of renewal after five years. Each unit has separate utility meters, with water divided among the three units. The roof was replaced in 2021, and newer hot water heaters have been installed. Each 1,500-square-foot unit includes a 1,000-square-foot basement for storage. Unit 1 is occupied by a community grocery store. Unit 2 was originally occupied by a deli and includes a walk-in cooler, stove, and other equipment that may be available. Unit 3 is also occupied. The owner of the building has the option to expand with first right of refusal on buildings next to the property.
Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

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

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

Location Insight

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City
Newark
County
Essex
State
New Jersey
Longitude
-74.2099017
Latitude
40.7182325

FAQs

What type of property is this?
Triplex - Turnkey property with rental income potential in Newark.
Where is this triplex located?
The property is located at 391 Hawthorne Ave Newark, NJ.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: - Potential for $7,000/month rental income with all three units rented.; - Two units are currently rented on NNN leases with five years remaining and a right of renewal.; - Each unit has its own basement providing an additional 1,000 sqft of storage space.
More about this property
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