Mixed-Use Retail and
198 JEFFERSON ST Unit 198 Newark, NJ 07105
198 JEFFERSON ST Unit 198, Newark, NJ, 07105
$859,000
For Sale
$859,000
Mixed-use building with retail/office space on the first floor and two residential apartments above.
Property Size2,500 SF
Price / SF$343.60
Days on Market308
Property Features for 198 JEFFERSON ST Unit 198
General Information
- Standard status
- Active
- Size
- 2,500 SF
- Property subtype
- Mixed Use
Listing agency
ROSA AGENCY
(908) 432-1100
Listed by
MICHAEL ROSA
(908) 432-1100
Source
Xome
Added: Sep 17, 2025 Updated: Jul 21 at 6:25PM Checked: Jul 21 at 6:25PM
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 ROSA AGENCY
Investment Insights
Based on property information with market context.
This versatile mixed-use property includes a retail/office storefront on the first floor, suited for a range of commercial uses. The second floor features two apartments, creating an income-producing residential component alongside the street-level space.
The property is located in the Ironbound area of Newark and is described as convenient to major highways, transportation, shopping, and restaurants.
As presented, the building offers a combined configuration for an owner-occupant live/work setup or a buyer seeking rental income from the two upper apartments while retaining commercial space on the first floor.
The property is located in the Ironbound area of Newark and is described as convenient to major highways, transportation, shopping, and restaurants.
As presented, the building offers a combined configuration for an owner-occupant live/work setup or a buyer seeking rental income from the two upper apartments while retaining commercial space on the first floor.
Key Highlights
- Mixed‑use building with retail/office storefront on the first floor
- Two residential apartments on the second floor
- Zoned commercial
Local Financial Insights For Office B
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 | $75.0k | $30.00 |
| − Vacancy | −$17.5k | −$6.99 |
| EGI | $57.5k | $23.01 |
| − OpEx | −$14.4k | −$5.75 |
| NOI | $43.1k | $17.26 |
2,500 SF · lease $30.00/SF/yr · vacancy 23.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$616.3K
$539.3K – $719.1K
NOI $43,144 @ 7.0% cap · market cap 5.02%
Second Best
Multifamily LT 5
$599.5K
$524.6K – $699.4K
NOI $41,966 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$894.2K
$782.4K – $1.04M
NOI $62,592 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flagstar Bank
Bank
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use building with retail/office space on the first floor and two residential apartments above.
Where is this mixed-use property located?
The property is located at 198 JEFFERSON ST Unit 198 Newark, NJ.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: Mixed‑use building with retail/office storefront on the first floor; Two residential apartments on the second floor; Zoned commercial
