Prime Corner Mechanic Shop
For Sale
$775,000
146 -148 Hudson St, Newark, NJ 07103
Mechanic shop in Newark's University Heights neighborhood for sale.
Property Size3,600 SF
Lot Size0.14 Acres
Price / SF$215.28
Days on Market225
Property Features for 146 -148 Hudson St
General Information
Standard status
Active
Size
3,600 SF
Lot size
0.14 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,470
Amenities
2 Car Width
2 Units Heating
Additional Parking
Flat Roof
Hard Surface
Open Lot
Building Details
Year Built
1950
Listing Agency:
WEICHERT REALTORS - HOME CITY
(201) 293-6333
Listed By:
AUGUSTO VERISSIMO · License #9591085
Source:
Corcoran
Added: Jan 20
Changed: Sep 2
Last Checked: Sep 1 at 7:58PM
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 WEICHERT REALTORS - HOME CITY
Investment Insights
Based on property information with market context.
This mechanic shop and mixed-use commercial property is located at a high-visibility corner location on Hudson Street in Newark's Central Ward, specifically in the University Heights neighborhood. The corner building includes two separate tenant spaces. The Hudson Street frontage offers approximately 2,000 square feet plus an additional 300 square feet of office space. The Hartford Street frontage provides approximately 1,500 square feet. The total building size is approximately 4,000 square feet and includes three half bathrooms. The lot has a frontage of 60 feet and a depth of 100 feet, resulting in a total lot size of approximately 6,000 square feet. The zoning is R-4 Residential (Low-Rise). The property's high traffic exposure, excellent accessibility, and strategic corner location make it suitable for an owner-user or investor looking to start or expand their business.
Key Highlights
- Prime corner location with high visibility
- Two separate tenant spaces totaling approximately 4,000 sq ft
- Located in Newark's Central Ward - University Heights neighborhood
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
$57,725
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
7.45%
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%
$1,154,500
$1.2M
Cap Rate 7%
$824,643
$824.6K
Cap Rate 9%
$641,389
$641.4K
Market Conditions
NOI Build-Up for 3,600 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
$90.7K $25.20/SF
− Vacancy
−$8.3K −$2.29/SF
EGI
$82.5K $22.91/SF
− OpEx
−$24.7K −$6.87/SF
NOI
$57.7K $16.03/SF
Area
ZIP 07103
Vacancy
9.10%
Lease Rate
$25.20 /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%
$1,154,500
Cap Rate 7%
$824,643
Cap Rate 9%
$641,389
Alternative Uses
Best Use
Retail
$824.6K
$721.6K – $962.1K
NOI $57,725 @ 7.0% cap · market cap 7.45%
Second Best
Industrial
$609.8K
$533.6K – $711.4K
NOI $42,684 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,132 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,733
Businesses Nearby
204k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Groceries 34%
Shops & Services 7%
ShopRite
Groceries
69,926 visits/mo
0.5 miles
McDonald's
Dining
39,847 visits/mo
0.3 miles
Wendy's
Dining
24,571 visits/mo
0.3 miles
Dunkin' Donuts
Dining
13,853 visits/mo
0.2 miles
IHOP
Dining
12,934 visits/mo
0.4 miles
Demographics for 07103, NJ
39,439
Population
13,832
Households
2.9
Avg Household Size
30
Median Age
21%
College-Educated
81%
High-School Grad
2.2 sq mi
ZIP Area
17,927
Density / Sq Mi
$42,397
Median Household Income
$34,278
Median Earnings
$1,289
Median Rent
$259,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Auto shop - Mechanic shop in Newark's University Heights neighborhood for sale.
Where is this auto shop located?
The property is located at 146 -148 Hudson St Newark, NJ.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Prime corner location with high visibility; Two separate tenant spaces totaling approximately 4,000 sq ft; Located in Newark's Central Ward - University Heights neighborhood
