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    Income-Producing Mixed-Use Property Title is generated by Realmo AI

    218 Mulberry St, Newark, NJ 07102

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    For Sale
    $4,800,000

    Commercial - Newark City, NJ

    Property size:
    39,500 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $121/SF
    Added:
    Jan 13, 2026
    Days on Market:
    133
    Last Refresh:
    May 26 at 2:06 pm

    Property Features for 218 Mulberry St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Redevelopment
    Rooms
    Basement
    Basement Y/N
    1
    Standard status
    Active
    Size
    39,500 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    36877

    Building Details

    Year built
    1900
    Floors in Building
    3
    Number of units
    5
    Building materials
    Brick
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    HECTOR R. ROJAS

    Listing agent HECTOR R. ROJAS

    Listing office EXP REALTY, LLC 28 VALLEY ROAD, Montclair, NJ

    Listing date Jan 13, 2026

    MLS# 4004798 Listing URL

    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.

    HighLights

    • Fully income‑producing mixed‑use property with immediate cash flow.
    • Located in Downtown Newark's Arena District, near Prudential Center and Mulberry Commons Park.
    • Strong commercial anchor tenant generates approximately $240,000 annually.
    • Diversified income stream from commercial and four residential units, totaling approximately $349,200 annually.
    • Month‑to‑month leases offer flexibility to optimize rents or reposition the asset.
    • Strategic parcel in a major redevelopment zone with substantial public and private investment.

    Overview

    This mixed-use property is located in the heart of Downtown Newark's Arena District, steps from the Prudential Center and Mulberry Commons Park. The property offers immediate cash flow with long-term upside in one of Newark's active redevelopment corridors. The property features a commercial anchor tenant generating approximately $240,000 annually, plus four residential units above, providing a diversified income stream with a total annual income of approximately $349,200 and a net operating income of approximately $291,900. Tenants pay all utilities, and the property is owner-managed. All leases are month-to-month, offering incoming ownership flexibility to lock in long-term leases, optimize rents, or reposition the asset. The property is located within a major redevelopment zone surrounded by substantial public and private investment and is widely regarded as a strategic parcel in the continued transformation of Downtown Newark. The lot size is 0.08 acres. The property size is 39,500 square feet. The property is suitable for 1031 exchange buyers, long-term hold investors, value-add strategies, or assemblage-minded buyers seeking stable income today with meaningful future potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    ATM Machine at Three ... Atm Three Levels Lounge ... Bar & Pub Empathy for Life Suboxone ... Medical Clinic

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Building Supply Nail Salon Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.17114
    Latitude
    40.7314

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property in Downtown Newark's Arena District.
    Where is this mixed-use property located?
    The property is located at 218 Mulberry St Newark, NJ.
    What is the asking price?
    The asking price for this property is $4,800,000.
    What are key features of this property?
    This property features: Fully income‑producing mixed‑use property with immediate cash flow.; Located in Downtown Newark's Arena District, near Prudential Center and Mulberry Commons Park.; **Strong commercial anchor tenant generates approximately $240,000 annually.**
    (973) 786-2247
    We can help!
    Listing Contact
    HECTOR R. ROJAS
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    218 Mulberry St, Newark City, NJ 07102-3528
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