Historic Theater in Newark's West
For Sale
$930,000
Pending
983-987 Orange, Newark, NJ 07106
Amazing investment opportunity in Newark's West Ward near Seton Hall.
Property SizeContact for details
Days on Market1213
Property Features for 983-987 Orange
General Information
Standard status
Pending
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,999
Amenities
Gas Heating
Listing Agency:
RE/MAX SELECT - MONTVILLE
(973) 575-6005
Listed By:
MARC TITUS
Source:
Corcoran
Added: May 11, 2023
Changed: Aug 8
Last Checked: Jul 23 at 8:51AM
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 RE/MAX SELECT - MONTVILLE
Investment Insights
Based on property information with market context.
This property presents an investment opportunity in Newark's West Ward. The building, originally the Stanley Theater, is of Spanish Atmospheric style and was designed by architect Frank Grad, with interior decoration by Landish Studios. Opened in 1927, the theater was part of the Warner Brothers circuit. By the early 1970s, it was sold to an Italian-American cultural organization and repurposed as a social hall named Casa Italiana. The Atmospheric style decor was retained, and the auditorium was cleared of seats for dining and dancing. Since 1980, it has been the Newark Tabernacle. Located a few blocks from Seton Hall, the property benefits from high foot traffic and is situated at the intersection of two major avenues. The location offers potential for creative redevelopment. The property's value is primarily in the land and space.
Key Highlights
- High foot traffic location at the intersection of two major avenues, near Seton Hall.
- Significant land and space value.
- Unique Spanish Atmospheric style architecture.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,247
Businesses Nearby
Explore this area
Business Placement
Demographics for 07106, NJ
34,596
Population
13,633
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
24,711
Density / Sq Mi
$48,105
Median Household Income
$34,820
Median Earnings
$1,221
Median Rent
$321,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Theater & concert hall - Amazing investment opportunity in Newark's West Ward near Seton Hall.
Where is this theater & concert hall located?
The property is located at 983-987 Orange Newark, NJ.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: High foot traffic location at the intersection of two major avenues, near Seton Hall.; Significant land and space value.; Unique Spanish Atmospheric style architecture.
