391 Hawthorne Ave Newark, NJ 07112
Property Features for 391 Hawthorne Ave
General Information
- Property type
- Commercial
- Standard status
- Active
- Lot size
- 0.12 Acres
Source:
Elliman
Listing Agent: Carolina Campbell
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
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
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.2099017
- Latitude
- 40.7182325
Nearby Similar for Sale
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.
