Two-Unit Mixed-Use
For Lease
$649,500
199 Summer Avenue, Newark, NJ 07104
Ground-floor grocery retail is paired with a four-bedroom apartment and a den or office upstairs.
Space SizeContact for details
Days on Market148
Property Features for 199 Summer Avenue
General Information
Standard status
Active
Property subtype
Industrial
Site & Location
Neighborhood
Mt Pleasant
Taxes and HOA fees
Annual Taxes
$9,573
Listing Agency:
RE/MAX Professionals 1
Listed By:
Jeanette Rodriguez · License #1757858
(862) 368-7171
Source:
Tkregroupinc
Added: Jun 8
Changed: Nov 1
Last Checked: Nov 1 at 3:32PM
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 RE/MAX Professionals 1
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Investment Insights
Based on property information with market context.
This two-unit mixed-use property in Newark combines ground-floor commercial space occupied by a neighborhood grocery store with a second-floor residential unit. The apartment has four bedrooms, one full bathroom, and a den or office. The grocery business is not included in the offering.
The commercial tenant has 12 years remaining on its lease, with annual rent increases of 3%. The apartment is rented month to month. The property is on Summer Avenue, with access to major highways and public transportation.
The commercial tenant has 12 years remaining on its lease, with annual rent increases of 3%. The apartment is rented month to month. The property is on Summer Avenue, with access to major highways and public transportation.
Key Highlights
- Two‑unit mixed‑use property at 199 Summer Avenue, Newark, NJ 07104
- Ground‑floor commercial space occupied by a neighborhood grocery store; the business is not for sale
- Commercial lease has 12 years remaining and 3% annual rent increases
Property Analytics
Who owns this building?
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Current Use
Lease Details
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
1,677
Businesses Nearby
94k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 59%
Dining 21%
Groceries 12%
Electronics 4%
Exxon
Shops & Services
17,016 visits/mo
0.2 miles
Food Fair Fresh Market
Groceries
11,554 visits/mo
0.3 miles
BP
Shops & Services
10,746 visits/mo
0.2 miles
Dunkin' Donuts
Dining
10,219 visits/mo
0.3 miles
Sunoco
Shops & Services
10,184 visits/mo
0.3 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
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor grocery retail is paired with a four-bedroom apartment and a den or office upstairs.
Where is this mixed-use property located?
The property is located at 199 Summer Avenue Newark, NJ.
What is the lease rate?
The lease rate is $649,500.
What are key features of this property?
This property features: Two‑unit mixed‑use property at 199 Summer Avenue, Newark, NJ 07104; Ground‑floor commercial space occupied by a neighborhood grocery store; the business is not for sale; Commercial lease has 12 years remaining and 3% annual rent increases
