Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    239 S 8th St Newark, NJ 7103

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $660,000

    Spacious three-family property with finished basement near universities and transportation.

    Type:Multi-Family
    Lot size:
    0.03 Acres
    Added:
    Mar 10, 2026
    Days on Market:
    26
    Last Refresh:
    Apr 1 at 11:36 pm

    Property Features for 239 S 8th St

    General Information

    Standard status
    Active
    Lot size
    0.03 Acres
    Property subtype
    Multi-Family

    Building Details

    Year Built
    1877

    We can help!

    Listing Contact
    Diego Colorado

    Listing agent Diego Colorado License #1973986

    Listing office Ridgewood

    Listing date Mar 10, 2026

    Source Kw

    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 Ridgewood

    Overview

    Newark Three-Family Property with Basement

    This three-family property in Newark offers an investment or owner-occupant opportunity. The building includes three residential units and a fully finished basement with a full bathroom. Unit 3 is vacant. The property is near University Hospital, NJIT, and Rutgers University. Newark Penn Station, the Garden State Parkway, and Interstate 280 are easily accessible. The Springfield Avenue Marketplace and Branch Brook Park are also nearby. The property combines living space with a location in Newark's educational and medical corridor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Skin Care Clinic Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1981
    Latitude
    40.7419

    Nearby Similar for Sale

    • $4,000,000
      9,999 SF

      Newark City Commercial Opportunity

      Commercial building in established Newark neighborhood, suitable for medical practices.
      461-467 Mount Prospect Ave, Newark City, NJ 07104-2907
      View Details
    • $2,950,000

      Newark Commercial Building For Sale

      17,360 sqft commercial building in Newark's Forrest Hill section.
      245-249 Verona Avenue, Newark, NJ 07104
      View Details
    • $1,900,000
      11,519 SF

      Newark Warehouse with Mechanic Shop

      11,000+ SF warehouse with mechanic shop in Newark City.
      236 Park Ave, Newark City, NJ 07107-2349
      View Details
    • $1,999,000
      6,250 SF

      Newark Commercial Property with Storefronts

      Versatile Newark property with warehouses and high-traffic storefronts for sale.
      34 Foster St, Newark City, NJ 07114-1327
      View Details
    • $1,999,000
      7,450 SF

      Newark Mixed-Use Commercial Opportunity

      Multi-use asset in Newark's promising growth corridor.
      707 Frelinghuysen Ave, Newark City, NJ 07114-1304
      View Details
    • $500,000
      4,534 SF

      Newark Three-Family Investment Opportunity

      Three-family home in Newark, close to schools and transportation.
      123 Seymour Avenue, Newark, NJ 07108
      View Details
    • $649,999

      Mixed-Use Building in Newark City

      Mixed-use building with commercial and residential income potential.
      504 Springfield Ave, Newark City, NJ 07103-2021
      View Details
    • $700,000
      3,700 SF

      Spacious Multi-Family Residence in Newark

      3,700 sq ft three-family residence with strong income potential.
      266 Littleton Ave, Newark City, NJ 07103-3478
      View Details
    • $79,999
      999 SF

      Established Business in Newark City

      Active business operating for over 30 years in Newark City.
      8 Alyea St, Newark City, NJ 07105-3202
      View Details
    • $849,888

      Newark Two-Family Home For Sale

      Well-maintained two-family home in Newark's North Ward with strong rental potential.
      597 5th Street, Newark, NJ 07107
      View Details
    • $780,000

      Newark City Multi-Family Investment

      Well-maintained 3-family property with income potential in Newark City.
      743 S 12Th St, Newark City, NJ 07103-1740
      View Details
    • $3,480,000
      9,120 SF

      Newark Multifamily Investment Opportunity

      Newly rebuilt 14-unit apartment building near Branch Brook Park.
      155 Clifton Ave, Newark City, NJ 07104-1047
      View Details

    FAQs

    What type of property is this?
    Triplex - Spacious three-family property with finished basement near universities and transportation.
    Where is this triplex located?
    The property is located at 239 S 8th St Newark, NJ.
    What is the asking price?
    The asking price for this property is $660,000.
    What are key features of this property?
    This property features: Vacant Unit 3: Ideal for owner‑occupancy or immediate rental income.; Low Down Payment: Only $24,500 down payment required.; Cash Flow Potential: Potential for $2k/month positive cash flow.
    (201) 445-4300
    We can help!
    Listing Contact
    Diego Colorado
    Real Estate License ID: 1973986
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!