Mixed-Use Property with Retail
188 Bloomfield Ave Newark, NJ 07104
For Sale
$1,300,000
Mixed-use property featuring retail stores and development potential.
Property Size5,100 SF
Lot Size0.12 Acres
Price / SF$254.90
Days on Market193
Property Features for 188 Bloomfield Ave
General Information
- Standard status
- Active
- Size
- 5,100 SF
- Lot size
- 0.12 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1920
Listing Agency:
WEICHERT REALTORS
(973) 746-1515
Listed By:
LASANDA SHEPPY
Source:
Corcoran
Added: Jan 13
Changed: Jul 6
Last Checked: Jul 25 at 7:10AM
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 REALTORS
Investment Insights
Based on property information with market context.
This property features three retail stores with rental potential, along with a building suitable for conversion into mixed-use spaces or apartments. The property offers flexibility for various development options. The building has a total size of 5100 square feet.
Key Highlights
- Three existing retail stores provide immediate rental income.
- Building suitable for mixed‑use development, apartments, or other concepts.
- Excellent rental potential.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $122.4k | $24.00 |
| − Vacancy | −$11.1k | −$2.18 |
| EGI | $111.3k | $21.82 |
| − OpEx | −$33.4k | −$6.54 |
| NOI | $77.9k | $15.27 |
5,100 SF · lease $24.00/SF/yr · vacancy 9.10% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.11M
$973.5K – $1.30M
NOI $77,883 @ 7.0% cap · market cap 5.99%
Second Best
Mixed Use
$1.11M
$968.2K – $1.29M
NOI $77,456 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,924 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bloomfield Deli
Grocery & Convenience Store
LibertyX Bitcoin ATM
Atm
188nutrition
Pharmacy
Similar Off Market Nearby
- Jely's multiservices — 51 Bloomfield Ave, Newark, NJ 07104
- Floristeria Jely's Multiservice & Flowers llc — 51 Bloomfield Ave, Newark, NJ 07104
- Magnolia Florist — 5 Webster St, Newark, NJ 07104
FAQs
What type of property is this?
Storefront property - Mixed-use property featuring retail stores and development potential.
Where is this storefront property located?
The property is located at 188 Bloomfield Ave Newark, NJ.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Three existing retail stores provide immediate rental income.; Building suitable for mixed‑use development, apartments, or other concepts.; Excellent rental potential.
