Two-Unit Mixed-Use
199 Summer Ave #., Newark, NJ 07104
For Sale
$649,500
A ground-floor grocery tenancy sits below a four-bedroom residence with a den or office.
Property SizeContact for details
Days on Market159
Property Features for 199 Summer Ave #.
General Information
Standard status
Property subtype
Zoning
Lease Type
Net Operating Income
Site & Location
Neighborhood
Highway Access
Additional Details
Gross Income
Building Details
Year Built
Stories
Units
Tenancy
Listing Agency:
Re/Max Professionals I
Listed By:
Jeanette Rodriguez · License NJ #1757858
(973) 450-4000
Source:
Cammarotarealestate
Added: Jun 8
Changed: Nov 11
Last Checked: Nov 13 at 3:03AM
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 I
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Investment Insights
Based on property information with market context.
Built in 1920, this two-unit property combines a ground-level grocery store with an upper-floor residence. The grocery business is not included in the sale and has 12 years remaining on its lease, with annual rent increases of 3%. Above it, the residential unit has four bedrooms, one full bathroom, and a den or office; its tenancy is month-to-month.
The property is located at 199 Summer Ave in Newark, New Jersey. The commercial and residential spaces have distinct lease arrangements, with a long-term commercial term and a month-to-month residential tenancy.
The property is located at 199 Summer Ave in Newark, New Jersey. The commercial and residential spaces have distinct lease arrangements, with a long-term commercial term and a month-to-month residential tenancy.
Key Highlights
- Two‑unit mixed‑use property built in 1920
- Ground‑floor grocery business has 12 years remaining on its lease
- Commercial lease includes 3% annual rent increases
Property Analytics
Who owns this building?
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
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
$337,400
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Newark, NJ
Properties on Market for Mixed-use properties in Newark
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A ground-floor grocery tenancy sits below a four-bedroom residence with a den or office.
Where is this mixed-use property 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 built in 1920; Ground‑floor grocery business has 12 years remaining on its lease; Commercial lease includes 3% annual rent increases
