Building Details

Building Size 5,100 SF

Year Built 1920

Stories 1

Units 3

Listing Agency: Weichert Rltrs Ten-Creskl Show Phone

Listed By: Lasanda Sheppy Show Phone

Source: Cammarotarealestate

Added: Jan 12 Changed: Oct 25 Last Checked: Oct 26 at 3:39AM

Report an Issue

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 Rltrs Ten-Creskl

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This Newark property includes three retail storefronts and a separate building. The additional structure offers flexibility for a range of configurations, including mixed-use space or apartments, or it can be retained in its current form. The property contains 5,100 square feet and was built in 1920. Zoning is listed as com.

Key Highlights

• Three retail storefronts on the property
• Separate building with potential for mixed‑use space or apartments
• 5,100 square feet; built in 1920

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$77,883

Cap Rate

7.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,557,660 $1.6M

Cap Rate 7%

$1,112,614 $1.1M

Cap Rate 9%

$865,367 $865.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,100 SF

Gross rent

$122.4K $24.00/SF

− Vacancy

−$11.1K −$2.18/SF

EGI

$111.3K $21.82/SF

− OpEx

−$33.4K −$6.54/SF

NOI

$77.9K $15.27/SF

Area

ZIP 07104

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%

$1,557,660

Cap Rate 7%

$1,112,614

Cap Rate 9%

$865,367

Alternative Uses

Best Use

Retail

$1.11M

$973.5K – $1.30M (±1% cap)

NOI $77,883 @ 7.0% cap · market cap 7.80%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.61M

$1.41M – $1.88M (±1% cap)

NOI $112,924 @ 7.0% cap · market cap 11.32%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Bloomfield Deli Grocery & Convenience Store LibertyX Bitcoin ATM Atm 188nutrition Pharmacy

Suggested Use

Top Pick Real Estate Agency Skin Care Clinic Acupuncture (Bike/Boat/Book/etc) Store Veterinary Clinic Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,780

Businesses Nearby

82k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 41% Shops & Services 41% Groceries 14% Electronics 5%

Dunkin' Donuts Dining

13,919 visits/mo 0.5 miles

Food Fair Fresh Market Groceries

11,554 visits/mo 0.4 miles

BP Shops & Services

10,746 visits/mo 0.4 miles

KFC Dining

10,075 visits/mo 0.4 miles

Dunkin' Donuts Dining

9,393 visits/mo 0.5 miles

Demographics for 07104, NJ

54,051

Population

21,762

Households

2.5

Avg Household Size

35

Median Age

21%

College-Educated

71%

High-School Grad

2.5 sq mi

ZIP Area

21,620

Density / Sq Mi

$51,199

Median Household Income

$36,139

Median Earnings

$1,343

Median Rent

$337,400

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Similar For Sale Nearby

See more

Three-Unit Storefront Building

391 Hawthorne Ave #393, Newark, NJ 07112

$900,000

5,201 SF

View details

Mixed-Use Building with Retail

948 S Orange Ave #1, Newark, NJ 07106

$899,000

4,700 SF

View details

Bloomfield Avenue Mixed-Use Investment

148 Bloomfield Ave, Newark, NJ 07104

$750,000

4,561 SF

View details

Mixed-Use Property with Retail Storefront

674 Mount Prospect Ave, Newark, NJ 07104

$950,000

3,500 SF

View details

McWhorter Street Investment Opportunity

168 Mcwhorter St, Newark, NJ 07105

$999,999

2,400 SF

View details

Three-Tenant Storefront Property

441 Bloomfield Ave, Newark, NJ 07107

$1,250,000

3,000 SF

View details

Storefront Property in Redevelopment Zone

721 Springfield Ave, Newark, NJ 07103

$1,300,000

View details

Mixed-Use Property with Apartment

70 Park Ave #70, Newark, NJ 07104

$850,000

2,300 SF

View details

Laundromat Property with Business

625 Springfield Ave #625, Newark, NJ 07103

$600,000

2,712 SF

View details

Newark Mixed-Use Investment Opportunity

699 Frelinghuysen Ave, Newark, NJ 07114

$1,450,000

11,650 SF

View details

Six-Unit Mixed-Use Property

156 Jefferson St, Newark, NJ 07105

$1,750,000

99,999 SF

View details

Mixed-Use Building with Two Apartments

294 Orange Street, Newark, NJ 07103

$799,999

View details

Similar Off Market Nearby

• Magnolia Florist — 5 Webster St, Newark, NJ 07104
• Jely's multiservices — 51 Bloomfield Ave, Newark, NJ 07104
• Floristeria Jely's Multiservice & Flowers llc — 51 Bloomfield Ave, Newark, NJ 07104

Frequently Asked Questions

What type of property is this?

Storefront property - Three retail storefronts are accompanied by a separate building with potential for additional space.

Where is this storefront property located?

The property is located at 188 Bloomfield Ave #188 Newark, NJ.

What is the asking price?

The asking price for this property is $998,000.

What are key features of this property?

This property features: Three retail storefronts on the property; Separate building with potential for mixed‑use space or apartments; 5,100 square feet; built in 1920