Building Details

Building Size 3,500 SF

Year Built 1910

Stories 3

Listing Agency: Show Phone

Listed By: Danielle Mustilli

Source: Haven

Added: Oct 21 Changed: Oct 28 Last Checked: Oct 28 at 9:18AM

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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 Danielle Mustilli

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$155,872

Cap Rate

9.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,117,440 $3.1M

Cap Rate 7%

$2,226,743 $2.2M

Cap Rate 9%

$1,731,911 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,800 SF

Gross rent

$234.0K $30.00/SF

− Vacancy

−$11.3K −$1.45/SF

EGI

$222.7K $28.55/SF

− OpEx

−$66.8K −$8.56/SF

NOI

$155.9K $19.98/SF

Area

ZIP 07103

Vacancy

4.84%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,117,440

Cap Rate 7%

$2,226,743

Cap Rate 9%

$1,731,911

Alternative Uses

Best Use

Multifamily LT 5

$2.23M

$1.95M – $2.60M (±1% cap)

NOI $155,872 @ 7.0% cap · market cap 9.17%

Second Best

Apartment 5plus

$2.02M

$1.77M – $2.36M (±1% cap)

NOI $141,678 @ 7.0% cap · market cap 8.33%

Theoretical Best

Office A

$2.79M

$2.44M – $3.25M (±1% cap)

NOI $195,287 @ 7.0% cap · market cap 11.49%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Suggested Use

Top Pick Law Firm Real Estate Agency (Bike/Boat/Book/etc) Store Carpet & Flooring Store Acupuncture Tattoo & Piercing Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,627

Businesses Nearby

Explore this area Business Placement

Demographics for 07103, NJ

39,439

Population

13,832

Households

2.9

Avg Household Size

30

Median Age

21%

College-Educated

81%

High-School Grad

2.2 sq mi

ZIP Area

17,927

Density / Sq Mi

$42,397

Median Household Income

$34,278

Median Earnings

$1,289

Median Rent

$259,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

Where is this triplex located?

The property is located at 215-219 Littleton Ave Newark, NJ.

What is the asking price?

The asking price for this property is $1,700,000.