Grocery Store with Apartment
For Sale
$649,500
199 Summer Ave, Newark, NJ 07104
MULTI_FAMILY - Newark City, NJ
Property SizeContact for details
Lot Size0.06 Acres
Days on Market65
Property Features for 199 Summer Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Basement
Directions
Summer Ave. Between Taylor & Kearny St.
Standard status
Active
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9573
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Roof type
Flat
Architectural style
Other
Listing Agency:
RE/MAX PROFESSIONALS I · RE/MAX International
(973) 450-4000
Listed By:
JEANETTE RODRIGUEZ · License #1757858
(973) 418-0425
Added: Jun 8
Changed: Aug 1
Last Checked: Aug 11 at 11:06AM
MLS# 4032954
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit mixed-use property combines a ground-floor neighborhood grocery store with a second-floor residential unit. The commercial space is occupied by a grocery store with 12 years remaining on the lease, and the lease includes 3% annual rent increases. The business is not for sale.
The second-floor unit is a four-bedroom layout with a den/office and one full bathroom. It is currently rented on a month-to-month basis, providing flexibility for future rent adjustments.
The property was built in 1920 and features a flat roof. Heating is provided by hot water heating and baseboard systems, with public water and public sewer service. The site is approximately 0.06 acres.
The second-floor unit is a four-bedroom layout with a den/office and one full bathroom. It is currently rented on a month-to-month basis, providing flexibility for future rent adjustments.
The property was built in 1920 and features a flat roof. Heating is provided by hot water heating and baseboard systems, with public water and public sewer service. The site is approximately 0.06 acres.
Key Highlights
- Ground‑floor grocery store with 12 years remaining on the lease
- 3% annual rent increases on the grocery lease
- Second‑floor four‑bedroom rental unit on a month‑to‑month basis
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,962
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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 Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- All in One — 294 Orange St, Newark, NJ 07103
- Ashley Supermarke — 195 1st St A, Newark, NJ 07107
- Harrison Supermarket — 414 Frank E Rodgers Blvd N, Harrison, NJ 07029
- Dreamers Supermarket — 71 7th Ave, Newark, NJ 07104
- Ameuri Supermarket — 173 Sussex Ave, Newark, NJ 07103
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Two-unit mixed-use building with a grocery tenant on a long lease and a second-floor four-bedroom rental unit.
Where is this grocery and convenience store located?
The property is located at 199 Summer Ave Newark, NJ.
What is the asking price?
The asking price for this property is $649,500.
What are key features of this property?
This property features: Ground‑floor grocery store with 12 years remaining on the lease; 3% annual rent increases on the grocery lease; Second‑floor four‑bedroom rental unit on a month‑to‑month basis
