Renovated-Basement
For Sale
$615,000
163 Brookdale Avenue, Newark, NJ 07106
Legal three-family property with flexible lower-level space, driveway parking, and an off-street garage.
Property Size1,000 SF
Price / SF$615
Days on Market202
Property Features for 163 Brookdale Avenue
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Multi Family / 3-Three Story
Units
Unit Mix
2 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,686
Amenities
Yes
No
Asphalt Shingle
Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector
Finished
Aluminum Siding, Wood Shingle
Building Details
Year Built
1950
Buildings
1
Tenancy
Multi
Listing Agency:
EXIT PLATINUM REALTY
(973) 746-4777
Listed By:
NATE HAYES · License #301958
(973) 746-4777
Source:
Compass
Added: Feb 10
Changed: Aug 30
Last Checked: Aug 30 at 1:38PM
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 PLATINUM REALTY
Investment Insights
Based on property information with market context.
This legal three-family property at 163 Brookdale Avenue in Newark includes two three-bedroom, one-bath units and a two-bedroom, one-bath unit. The building also has a full finished basement renovated in 2019, with two added bedrooms and a full bathroom that expand the available living area. The property is being sold as-is and includes driveway parking plus an off-street garage.
Built in 1950, the home has aluminum siding, wood shingle elements, and an asphalt shingle roof. Carbon monoxide and smoke detectors, along with a fire extinguisher, are included. Two units are currently tenant-occupied, with the building expected to be delivered vacant by mid March, subject to the stated delivery timing.
Built in 1950, the home has aluminum siding, wood shingle elements, and an asphalt shingle roof. Carbon monoxide and smoke detectors, along with a fire extinguisher, are included. Two units are currently tenant-occupied, with the building expected to be delivered vacant by mid March, subject to the stated delivery timing.
Key Highlights
- Legal three‑family property with two 3‑bedroom units and one 2‑bedroom unit
- Full finished basement renovated in 2019 with two added bedrooms and a full bathroom
- Driveway parking plus an off‑street garage
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
$17,279
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
2.81%
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%
$345,580
$345.6K
Cap Rate 7%
$246,843
$246.8K
Cap Rate 9%
$191,989
$192.0K
Market Conditions
NOI Build-Up for 1,000 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
$26.4K $26.40/SF
− Vacancy
−$1.7K −$1.72/SF
EGI
$24.7K $24.68/SF
− OpEx
−$7.4K −$7.41/SF
NOI
$17.3K $17.28/SF
Area
ZIP 07106
Vacancy
6.50%
Lease Rate
$26.40 /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%
$345,580
Cap Rate 7%
$246,843
Cap Rate 9%
$191,989
Alternative Uses
Best Use
Multifamily LT 5
$246.8K
$216.0K – $288.0K
NOI $17,279 @ 7.0% cap · market cap 2.81%
Second Best
Apartment 5plus
$215.8K
$188.8K – $251.8K
NOI $15,106 @ 7.0% cap · market cap 2.46%
Theoretical Best
Office A
$391.2K
$342.3K – $456.4K
NOI $27,384 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,207
Businesses Nearby
Explore this area
Business Placement
Demographics for 07106, NJ
34,596
Population
13,633
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
24,711
Density / Sq Mi
$48,105
Median Household Income
$34,820
Median Earnings
$1,221
Median Rent
$321,400
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 - Legal three-family property with flexible lower-level space, driveway parking, and an off-street garage.
Where is this triplex located?
The property is located at 163 Brookdale Avenue Newark, NJ.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Legal three‑family property with two 3‑bedroom units and one 2‑bedroom unit; Full finished basement renovated in 2019 with two added bedrooms and a full bathroom; Driveway parking plus an off‑street garage
