24 Commerce St Newark, NJ 07102

Building Details

Year Built

1926

Listing agency Cushman & Wakefield - Morristown, New Jersey Show Phone

Listed by Jordan Sobel · License #NJ 1969050

Source Crexi

Added: Apr 1, 2025 Updated: Jul 21 at 6:26AM Checked: Jul 21 at 6:26AM

Report an Issue

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 Cushman & Wakefield - Morristown, New Jersey

---

Investment Insights

Based on property information with market context.

24 Commerce is a classically designed art deco office building with 18 stories, offering a mix of office space and street-level retail. The property is currently occupied by 34 tenants with a total rentable area of 155,915 SF, including 31 office tenants and 3 retail tenants.

The building is located in the heart of Newark’s CBD and is positioned steps from Newark Penn Station and the Prudential Center. The property is in a qualified opportunity zone (QOZ) and is described as having as-of-right residential overlay zoning under the Living Downtown Plan.

Average unit size is reported at 2,200 SF, and the property is noted as having a weighted average lease term of 1.5 years, providing multiple paths for new ownership in relation to the current office use.

Key Highlights

• 18‑story art deco building built in 1926 in Newark’s CBD
• 24 Commerce Street contains 155,915 SF total rentable area with 34 tenants
• Currently 47% occupied: 31 office tenants and 3 street‑level retail tenants

Property Analytics

Location Intelligence

Similar For Sale Nearby

• 

  $1,695,000

  10,000 SF

  Downtown Newark Mixed-Use Redevelopment Opportunity

  8,000 SF asset in Newark's commercial corridor.

  118 Market St, Newark City, NJ 07102

  View Details
• 

  $700,000

  1,806 SF

  Turnkey Restaurant and Lounge

  Turnkey space with a full prep kitchen, dry bar, enclosed patio, and guest bathrooms for immediate restaurant use.

  246 Mulberry St, Newark City, NJ 07102

  View Details
• 

  $749,000

  4,364 SF

  Mixed-Use Property with Restaurant Space

  Newly completed 2024 mixed-use building with a commercial ground floor and a two-level residential unit.

  52 Holland St, Newark City, NJ 07103-2011

  View Details
• 

  $1,500,000

  6,200 SF

  Warehouse and Office in Newark

  Vacant warehouse with office space in Newark's Ironbound section.

  41 Malvern St, Newark City, NJ 07105

  View Details
• 

  $699,000

  5,087 SF

  Three-Story Multifamily Income Property

  Three-story multifamily building with three identical layouts, each offering 3 bedrooms and 2 full bathrooms.

  590 Hunterdon St, Newark City, NJ 07108-2286

  View Details
• 

  $825,000

  5,472 SF

  Newer Two-Family Residence

  Two-family home built in 2010 with private driveway and built-in two-car garage, delivered 100% vacant for sale.

  26-28 Mount Pleasant Ave, Newark City, NJ 07104-4008

  View Details
• 

  $2,000,000

  7,250 SF

  Mixed-Use Retail and Residential Building

  Street-level commercial space with residential units above, sold as-is in a downtown Newark corridor location.

  415 HALSEY ST Unit 417, NEWARK, NJ 07102

  View Details
• 

  $650,000

  2,139 SF

  Mixed-Use Property on Park Avenue

  Mixed-use property with restaurant and apartment near Park Avenue.

  294 Park Ave, Newark City, NJ 07107

  View Details
• 

  $1,000,000

  5,100 SF

  Multi-Tenant Retail Corner Building

  Fully leased retail corner property with dedicated parking and frontage on Irvington Avenue.

  763 IRVINGTON AVE, NEWARK, NJ 07106

  View Details
• 

  $3,950,000

  6,330 SF

  Newark Industrial Investment Opportunity

  Fully leased industrial property with substantial yard space in Newark.

  160-178 Jelliff Ave, Newark, NJ 07108

  View Details
• 

  $789,999

  4,238 SF

  Two-Family Income Property

  Well-maintained two-family home with 8 bedrooms and 5 full baths on a 29x100 lot.

  711 S 11Th St, Newark City, NJ 07103-4338

  View Details
• 

  $775,000

  3,600 SF

  Prime Corner Mechanic Shop Opportunity

  Mechanic shop in Newark's University Heights neighborhood for sale.

  146 -148 Hudson St, Newark City, NJ 07103

  View Details

FAQs

What type of property is this?

Office building - Art deco 18-story office building with street-level retail and 47% occupancy.

Where is this office building located?

The property is located at 24 Commerce St Newark, NJ.

What are key features of this property?

This property features: 18‑story art deco building built in 1926 in Newark’s CBD; 24 Commerce Street contains 155,915 SF total rentable area with 34 tenants; Currently 47% occupied: 31 office tenants and 3 street‑level retail tenants