Two-Space Auto Shop
For Sale
$775,000
146 -148 Hudson St #146, Newark, NJ 07103
Two occupied mechanic-shop suites provide separate commercial layouts.
Property Size4,000 SF
Lot Size0.14 Acres
Price / SF$193.75
Days on Market225
Property Features for 146 -148 Hudson St #146
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
6
Lot size
0.14 Acres
Property subtype
Commercial
Zoning
R-4
Occupancy
100%
Net Operating Income
$57,430
Additional Details
Road Access
Yes
Amenities
three half bathrooms
Building Details
Year Built
1950
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Weichert Home City Realty
(201) 293-6333
Listed By:
Augusto Verissimo · License #9591085
(201) 293-6333
Source:
Betterhomerealestate
Added: Jan 17
Changed: Aug 30
Last Checked: Aug 30 at 1:01AM
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 Home City Realty
Investment Insights
Based on property information with market context.
This auto shop property contains two tenant-occupied mechanic spaces within an approximately 4,000-square-foot building. The Hudson Street suite measures approximately 2,200 square feet with an additional 300 square feet of office area, while the Hartford Street suite provides approximately 1,500 square feet. Three half bathrooms serve the building. The sale excludes the operating business.
Positioned at the corner of Hudson Street and Hartford Street in Newark’s Central Ward, the property occupies a 60' x 100' lot totaling approximately 6,000 square feet. The site is near major highways, Downtown Newark, Rutgers University, NJIT, University Hospital, and public transportation, with access to New York City. Zoning is R-4 Residential Low-Rise, and the building was constructed in 1950.
Positioned at the corner of Hudson Street and Hartford Street in Newark’s Central Ward, the property occupies a 60' x 100' lot totaling approximately 6,000 square feet. The site is near major highways, Downtown Newark, Rutgers University, NJIT, University Hospital, and public transportation, with access to New York City. Zoning is R-4 Residential Low-Rise, and the building was constructed in 1950.
Key Highlights
- Two tenant‑occupied mechanic shop spaces
- Approximately 4,000 square feet of building area
- Hudson Street space: approximately 2,200 SF plus 300 SF of office space
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
$64,139
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
8.28%
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%
$1,282,780
$1.3M
Cap Rate 7%
$916,271
$916.3K
Cap Rate 9%
$712,656
$712.7K
Market Conditions
NOI Build-Up for 4,000 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
$100.8K $25.20/SF
− Vacancy
−$9.2K −$2.29/SF
EGI
$91.6K $22.91/SF
− OpEx
−$27.5K −$6.87/SF
NOI
$64.1K $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%
$1,282,780
Cap Rate 7%
$916,271
Cap Rate 9%
$712,656
Alternative Uses
Best Use
Retail
$916.3K
$801.7K – $1.07M
NOI $64,139 @ 7.0% cap · market cap 8.28%
Second Best
Industrial
$677.5K
$592.8K – $790.4K
NOI $47,426 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,147 @ 7.0% cap · market cap 12.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
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
- DT Mobile Auto Mechanic LLC — 297 Springfield Ave, Newark, NJ 07103
- Romero Tire Shop — 280 Bergen St, Newark, NJ 07103
- Mecanico — 225 Hunterdon St #1L, Newark, NJ 07103
- Auto Body Shop Essex County — 87-99 William St, Newark, NJ 07102
- ALL BODY SHOP INSIDE OUTSIDE — 25A Branford Pl, Newark, NJ 07102
Frequently Asked Questions
What type of property is this?
Auto shop - Two occupied mechanic-shop suites provide separate commercial layouts.
Where is this auto shop located?
The property is located at 146 -148 Hudson St #146 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: Two tenant‑occupied mechanic shop spaces; Approximately 4,000 square feet of building area; Hudson Street space: approximately 2,200 SF plus 300 SF of office space
