Mixed-Use Property in
For Sale
$2,249,000
217 Frelinghuysen Ave, Newark, NJ 07114
Two-story building with restaurant and apartments for sale.
Property Size8,593 SF
Price / SF$261.72
Days on Market234
Property Features for 217 Frelinghuysen Ave
General Information
Standard status
Active
Size
8,593 SF
Site & Location
Neighborhood
South Broad Valley
Listing Agency:
REAL
Listed By:
JULISSA RENGIFO
(908) 377-4240
Source:
Goldstandardrealty
Added: Mar 5
Changed: Oct 4
Last Checked: Oct 7 at 4:02PM
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 REAL
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Investment Insights
Based on property information with market context.
This two-story mixed-use property is located on a well-traveled avenue in Newark. The building features an established diner/restaurant on the ground level, complete with a liquor license. Additionally, the property includes two residential apartments located above the restaurant. The property provides multiple income streams from a single asset. The property size is 8593 square feet.
Key Highlights
- Mixed‑use property featuring an established diner/restaurant and two residential apartments.
- Diner/restaurant includes a liquor license.
- Located on a well‑traveled avenue in Newark.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$184,990
Cap Rate
8.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,699,800
$3.7M
Cap Rate 7%
$2,642,714
$2.6M
Cap Rate 9%
$2,055,444
$2.1M
Market Conditions
NOI Build-Up for 8,593 SF
Gross rent
$268.1K $31.20/SF
− Vacancy
−$21.4K −$2.50/SF
EGI
$246.7K $28.70/SF
− OpEx
−$61.7K −$7.18/SF
NOI
$185.0K $21.53/SF
Area
Newark, NJ
Vacancy
8.00%
Lease Rate
$31.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,699,800
Cap Rate 7%
$2,642,714
Cap Rate 9%
$2,055,444
Alternative Uses
Best Use
Specialty Retail
$2.64M
$2.31M – $3.08M
NOI $184,990 @ 7.0% cap · market cap 8.23%
Second Best
Mixed Use
$1.96M
$1.71M – $2.28M
NOI $136,951 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$3.04M
$2.66M – $3.55M
NOI $213,124 @ 7.0% cap · market cap 9.48%
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
Current Use
Location Intelligence
Trade Area within ½ mile
1,007
Businesses Nearby
62k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 42%
Dining 41%
Hotels & Casinos 17%
Dunkin' Donuts
Dining
13,279 visits/mo
0.2 miles
Speedway
Shops & Services
12,915 visits/mo
0.3 miles
White Castle
Dining
11,919 visits/mo
0.4 miles
Sunoco
Shops & Services
9,114 visits/mo
0.2 miles
crowne plaza, newark, new jersey
Hotels & Casinos
7,514 visits/mo
0.4 miles
Demographics for 07114, NJ
17,767
Population
4,694
Households
3.8
Avg Household Size
39
Median Age
9%
College-Educated
69%
High-School Grad
7.9 sq mi
ZIP Area
2,249
Density / Sq Mi
$34,167
Median Household Income
$35,916
Median Earnings
$616
Median Rent
$384,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story building with restaurant and apartments for sale.
Where is this mixed-use property located?
The property is located at 217 Frelinghuysen Ave Newark, NJ.
What is the asking price?
The asking price for this property is $2,249,000.
What are key features of this property?
This property features: Mixed‑use property featuring an established diner/restaurant and two residential apartments.; Diner/restaurant includes a liquor license.; Located on a well‑traveled avenue in Newark.
