Renovated Automotive Repair
For Sale
$750,000
16 Foundry St, Newark, NJ 07105
Operating mechanic shop with vehicle-service equipment, licensing, a full bath, and kitchen.
Property Size2,500 SF
Days on Market51
Property Features for 16 Foundry St
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Service Bays
3
Taxes and HOA fees
Annual Taxes
$6,798
Amenities
Full bath
Kitchen
Building Details
Building Size
2,500 SF
Year Renovated
2023
Stories
1
Listing Agency:
EXIT REALTY LUCKY ASSOCIATES
Listed By:
MARILENE OLIVEIRA
(973) 908-0348
Source:
Elliman
Added: Sep 10
Changed: Oct 27
Last Checked: Oct 28 at 9:03AM
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 EXIT REALTY LUCKY ASSOCIATES
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This automotive repair property includes a full bath, kitchen, three vehicle lifts, a wheel alignment machine, vehicle parts, and tools. The interior was renovated in 2023, and the property is described as environmentally clean. Included licensing and operating assets comprise an NJDMV inspection machine with active license, dealer license for vehicle auction purchases and sales, and mechanical license.
The mechanic shop has operated for over 14 years and serves major business contracts as well as personal accounts. Walkability, biking, and transit scores are 94, 69, and 74, respectively, providing documented access characteristics for the Newark location.
The mechanic shop has operated for over 14 years and serves major business contracts as well as personal accounts. Walkability, biking, and transit scores are 94, 69, and 74, respectively, providing documented access characteristics for the Newark location.
Key Highlights
- Interior renovation completed in 2023
- Three vehicle lifts and wheel alignment machine included
- NJDMV inspection machine with active license
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,178
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$763,560
$763.6K
Cap Rate 7%
$545,400
$545.4K
Cap Rate 9%
$424,200
$424.2K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$60.0K $24.00/SF
− Vacancy
−$5.5K −$2.18/SF
EGI
$54.5K $21.82/SF
− OpEx
−$16.4K −$6.54/SF
NOI
$38.2K $15.27/SF
Area
ZIP 07105
Vacancy
9.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$763,560
Cap Rate 7%
$545,400
Cap Rate 9%
$424,200
Alternative Uses
Best Use
Retail
$545.4K
$477.2K – $636.3K
NOI $38,178 @ 7.0% cap · market cap 5.09%
Second Best
Industrial
$367.0K
$321.1K – $428.2K
NOI $25,689 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$894.2K
$782.4K – $1.04M
NOI $62,592 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
3
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
626
Businesses Nearby
13k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Groceries 30%
Dollar General
Shops & Services
5,604 visits/mo
0.5 miles
Met Food
Groceries
3,890 visits/mo
0.4 miles
Phillips 66
Shops & Services
2,783 visits/mo
0.1 miles
Avis Budget Car Rental
Shops & Services
769 visits/mo
0.2 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- G and V Auto Body — 105 Rome St, Newark, NJ 07105
- AAA Metal & Glass — Newark, NJ 07105
- Jairo Truck Repair — 309 Avenue P, Newark, NJ 07105
- Mejias Truck Repair. — 309 Avenue P, Newark, NJ 07105
- A&A truck center — 309 Avenue P, Newark, NJ 07105
Frequently Asked Questions
What type of property is this?
Auto shop - Operating mechanic shop with vehicle-service equipment, licensing, a full bath, and kitchen.
Where is this auto shop located?
The property is located at 16 Foundry St Newark, NJ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Interior renovation completed in 2023; Three vehicle lifts and wheel alignment machine included; NJDMV inspection machine with active license
