Mixed-Use Retail and Residential
199 Summer Ave Newark, NJ 07104
For Sale
$649,500
MULTI_FAMILY - Newark City, NJ
Lot Size0.06 Acres
Days on Market48
Property Features for 199 Summer Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bathroom 2, Bedroom 3, Basement, Bedroom 4, Bathroom 1, Bedroom 2
- 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
(973) 450-4000
Listed By:
JEANETTE RODRIGUEZ · License #1757858
(973) 418-0425
Added: Jun 8
Changed: Jun 30
Last Checked: Jul 25 at 4:06PM
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 mixed-use, two-unit property combines a ground-floor commercial space with an upper residential unit. The commercial space is occupied by a neighborhood grocery store under lease, with 12 years remaining, and includes 3% annual rent escalations; the business is not for sale. The second-floor unit features four bedrooms, one full bathroom, and a den/office, and it is currently rented on a month-to-month basis.
The property is located on Summer Ave in Newark City, Essex County, NJ, on a busy street. Public remarks indicate convenient access to major highways, public transportation, shopping, and local amenities, with strong visibility and consistent foot traffic.
Current rental income is stated as $3,550 per month for the commercial unit and $2,420.50 per month for the residential unit. Taxes are reported at $9,573.61 annually.
The property is located on Summer Ave in Newark City, Essex County, NJ, on a busy street. Public remarks indicate convenient access to major highways, public transportation, shopping, and local amenities, with strong visibility and consistent foot traffic.
Current rental income is stated as $3,550 per month for the commercial unit and $2,420.50 per month for the residential unit. Taxes are reported at $9,573.61 annually.
Key Highlights
- Two‑unit mixed‑use property with ground‑floor commercial and second‑floor residential space
- Ground‑floor commercial leased to a neighborhood grocery store with 12 years remaining on the lease and 3% annual rent escalations (business not for sale)
- Second‑floor residential unit has 4 bedrooms and is rented month‑to‑month
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Leo Grocery
Grocery & Convenience Store
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
FAQs
What type of property is this?
Grocery and convenience store - Two-unit mixed-use property with a ground-floor grocery tenant and a rented 4-bedroom residential unit upstairs.
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: Two‑unit mixed‑use property with ground‑floor commercial and second‑floor residential space; Ground‑floor commercial leased to a neighborhood grocery store with 12 years remaining on the lease and 3% annual rent escalations (business not for sale); Second‑floor residential unit has 4 bedrooms and is rented month‑to‑month
