Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    489 North 11th St Newark, NJ 7107

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,550 /Mo

    Three-bedroom, two-bath loft apartment in Newark's North Side.

    Type:Multi Family
    Added:
    Apr 12, 2026
    Days on Market:
    20
    Last Refresh:
    Apr 12 at 5:40 am

    Property Features for 489 North 11th St

    General Information

    Standard status
    Active
    Property subtype
    Multi Family

    Building Details

    Year Built
    1919

    We can help!

    Listing Contact
    SHAMFA SIMMONDS

    Listing agent SHAMFA SIMMONDS

    Listing office

    Listing date Apr 12, 2026

    Source Elliman

    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 SHAMFA SIMMONDS

    Overview

    Spacious Loft Apartment in Newark

    This loft-style apartment features three bedrooms and two bathrooms. Located in the Upper Roseville section of Newark’s North Side, the unit offers high ceilings and an open-concept layout. Modern finishes are present throughout the apartment. The layout is suitable for both relaxation and entertainment. Generous bedroom sizes and ample natural light are featured. The property is located near major highways, public transportation, shopping, and local amenities. The bike score is 51, indicating it is bikeable. The walk score is 85, indicating it is very walkable. The transit score is 70, indicating excellent transit.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2031888
    Latitude
    40.7366128

    Nearby Similar for Lease

    • $3,500/Mo

      Renovated Commercial Space in Newark

      Move-in-ready commercial storefront in a growing Newark neighborhood.
      81 Tremont Ave, Newark City, NJ 07106-1229
      View Details
    • $1,900/Mo

      Newark City Commercial Property

      Commercial property in Newark's Ironbound section, suitable for various businesses.
      43 Merchant St, Newark City, NJ 07105-2814
      View Details
    • $2,100/Mo

      Newark Commercial Property in Ironbound

      Commercial property in Newark's Ironbound, suitable for various businesses.
      43 Merchant St, Newark City, NJ 07105-2814
      View Details
    • $1,000/Mo

      Newark City Commercial Property

      Commercial property in Newark's Ironbound section, suitable for various businesses.
      43 Merchant St, Newark City, NJ 07105-2814
      View Details
    • $2,500/Mo

      Newark City Commercial Units For Rent

      Four commercial units available for rent in Newark City, NJ.
      536-540 Central Ave, Newark City, NJ 07107-1420
      View Details
    • $4,000/Mo

      Renovated Commercial Space, Newark City

      1,500 sq ft renovated commercial space for lease.
      654 Mount Prospect Ave, Newark City, NJ 07104-3110
      View Details
    • $1,350/Mo

      Prime Newark City Commercial Space

      Versatile 1,400 sq ft commercial space in high-growth Newark neighborhood.
      402 Hawthorne Ave, Newark City, NJ 07112-1643
      View Details
    • $4,000/Mo

      Newark City Commercial Units For Rent

      Four commercial units available for rent in Newark City, NJ.
      536-540 Central Ave, Newark City, NJ 07107-1420
      View Details
    • $2,800/Mo

      Newark City Commercial Space For Lease

      1,800 SF commercial space suitable for office, training, or education.
      91 Pacific St, Newark City, NJ 07105-1603
      View Details
    • $5,000/Mo

      Newark Warehouse and Office Space

      3300 sq ft warehouse and office space for lease.
      45 Malvern St, Newark City, NJ 07105-1510
      View Details
    • $2,950/Mo

      Retail Space in Newark City

      Retail space for rent in a vibrant Newark location.
      192 Market St, Newark City, NJ 07102-3708
      View Details
    • $7,000/Mo

      Ironbound Warehouse/Office Combo with Parking

      Flexible warehouse/office space in Newark's vibrant Ironbound district.
      98 Delancy St, Newark City, NJ 07105-1911
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Three-bedroom, two-bath loft apartment in Newark's North Side.
    Where is this multifamily property located?
    The property is located at 489 North 11th St Newark, NJ.
    What is the lease rate?
    The lease rate is $2,550 /Mo.
    What are key features of this property?
    This property features: Loft‑style 3‑bedroom apartment in Upper Roseville, Newark's North Side; Enjoy the open‑concept layout with modern finishes and high ceilings; Convenient location near major highways and public transportation
    (908) 316-8530
    We can help!
    Listing Contact
    SHAMFA SIMMONDS
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!