Brick Triplex
For Sale
$849,000
Pending
149 Union St, Newark, NJ 07105
MULTI_FAMILY - Newark City, NJ
Property Size3,312 SF
Lot Size0.05 Acres
Days on Market266
Property Features for 149 Union St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 7, Bedroom 2, Bedroom 5, Bedroom 3, Bedroom 6, Basement
Directions
Elm to Union st
Standard status
Pending
Size
3,312 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8997
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1896
Floors in Building
3
Number of units
3
Roof type
Shingle
Architectural style
Other
Listing Agency:
NENO-ROSA AGENCY
(201) 997-7860
Listed By:
MORGAN COUTO
(201) 997-7860
Added: Nov 20, 2025
Changed: Aug 13
Last Checked: Aug 13 at 12:06PM
MLS# 3998791
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This solid brick triplex at 149 Union St offers three residential units. Each unit includes two bedrooms, one full bathroom, and bright living areas with large room sizes. The property is served by public water and public sewer, and the roof is shingle. Built in 1896, the home totals 3,312 square feet on a 0.05-acre lot.
The building is located in the heart of Newark’s Ironbound and is described as being just a five-minute walk from Newark-Penn Station, providing access to NJ Transit, PATH, Amtrak, and multiple bus lines for commuting within the region.
The property is being sold strictly AS-IS.
The building is located in the heart of Newark’s Ironbound and is described as being just a five-minute walk from Newark-Penn Station, providing access to NJ Transit, PATH, Amtrak, and multiple bus lines for commuting within the region.
The property is being sold strictly AS-IS.
Key Highlights
- 3,312 SF triplex on a 0.05‑acre lot
- Brick exterior with shingle roof
- Built in 1896
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
$55,596
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
6.55%
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%
$1,111,920
$1.1M
Cap Rate 7%
$794,229
$794.2K
Cap Rate 9%
$617,733
$617.7K
Market Conditions
NOI Build-Up for 3,312 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
$83.5K $25.20/SF
− Vacancy
−$4.0K −$1.22/SF
EGI
$79.4K $23.98/SF
− OpEx
−$23.8K −$7.19/SF
NOI
$55.6K $16.79/SF
Area
ZIP 07105
Vacancy
4.84%
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%
$1,111,920
Cap Rate 7%
$794,229
Cap Rate 9%
$617,733
Alternative Uses
Best Use
Multifamily LT 5
$794.2K
$695.0K – $926.6K
NOI $55,596 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$726.1K
$635.3K – $847.1K
NOI $50,824 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$1.18M
$1.04M – $1.38M
NOI $82,922 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
6,297
Businesses Nearby
Explore this area
Business Placement
Demographics for 07105, NJ
50,870
Population
20,608
Households
2.5
Avg Household Size
35
Median Age
15%
College-Educated
70%
High-School Grad
4.6 sq mi
ZIP Area
11,059
Density / Sq Mi
$55,752
Median Household Income
$33,175
Median Earnings
$1,600
Median Rent
$445,900
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?
Triplex - Solid brick triplex with three two-bedroom units and public water and sewer services.
Where is this triplex located?
The property is located at 149 Union St Newark, NJ.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 3,312 SF triplex on a 0.05‑acre lot; Brick exterior with shingle roof; Built in 1896
