Mixed-Use Property with
For Sale
$850,000
473 CLINTON AVE Unit 0000, Newark, NJ 07108
Includes a barbecue restaurant and two residential apartments in Newark’s Central Business District.
Property Size4,500 SF
Price / SF$188.89
Days on Market573
Property Features for 473 CLINTON AVE Unit 0000
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$13,245
Amenities
Central Air
3
Concrete, Laminate, Wood
Fire Alarm
commercial
Parking.
On Street.
25.1X100, 25.1X100
Central Business District.
Building Details
Year Built
2010
Listing Agency:
BHHS JORDAN BARIS REALTY
(973) 736-4058
Listed By:
ELLEN QUENTZEL
(973) 736-4058
Source:
Xome
Added: Feb 3, 2025
Changed: Aug 30
Last Checked: Aug 30 at 9:26AM
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 BHHS JORDAN BARIS REALTY
Investment Insights
Based on property information with market context.
This 4,500-square-foot mixed-use property combines a barbecue restaurant with two residential apartments. The residential component includes one 3-bedroom apartment and one 5-bedroom apartment, creating a varied layout within the same building. Constructed in 2010, the property is equipped with central air and a fire alarm system. Interior finishes include concrete, laminate, and wood surfaces.
The property is located at 473 Clinton Ave, Unit 0000, in Newark’s Central Business District. Parking is available on the street, and the building occupies two listed 25.1-by-100-foot dimensions. The combination of restaurant and residential space provides a clearly defined mixed-use configuration at a Newark commercial address.
The property is located at 473 Clinton Ave, Unit 0000, in Newark’s Central Business District. Parking is available on the street, and the building occupies two listed 25.1-by-100-foot dimensions. The combination of restaurant and residential space provides a clearly defined mixed-use configuration at a Newark commercial address.
Key Highlights
- 4,500 SF mixed‑use building with a barbecue restaurant and two apartments
- Residential units include one 3‑bedroom apartment and one 5‑bedroom apartment
- Built in 2010
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$76,257
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,525,140
$1.5M
Cap Rate 7%
$1,089,386
$1.1M
Cap Rate 9%
$847,300
$847.3K
Market Conditions
NOI Build-Up for 4,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$114.5K $25.44/SF
− Vacancy
−$5.5K −$1.23/SF
EGI
$108.9K $24.21/SF
− OpEx
−$32.7K −$7.26/SF
NOI
$76.3K $16.95/SF
Area
Newark, NJ
Vacancy
4.84%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,525,140
Cap Rate 7%
$1,089,386
Cap Rate 9%
$847,300
Alternative Uses
Best Use
Specialty Retail
$1.38M
$1.21M – $1.61M
NOI $96,876 @ 7.0% cap · market cap 11.40%
Second Best
Multifamily LT 5
$1.09M
$953.2K – $1.27M
NOI $76,257 @ 7.0% cap · market cap 8.97%
Theoretical Best
Office A
$1.59M
$1.40M – $1.86M
NOI $111,609 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,152
Businesses Nearby
Explore this area
Business Placement
Demographics for 07108, NJ
28,715
Population
12,862
Households
2.2
Avg Household Size
32
Median Age
17%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
20,511
Density / Sq Mi
$33,960
Median Household Income
$30,336
Median Earnings
$1,098
Median Rent
$326,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a barbecue restaurant and two residential apartments in Newark’s Central Business District.
Where is this mixed-use property located?
The property is located at 473 CLINTON AVE Unit 0000 Newark, NJ.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 4,500 SF mixed‑use building with a barbecue restaurant and two apartments; Residential units include one 3‑bedroom apartment and one 5‑bedroom apartment; Built in 2010
