Bar and Lounge with Enclosed
For Sale
$700,000
246 Mulberry St #1, Newark, NJ 07102
The space includes a prep kitchen, two private bathrooms, and an enclosed patio.
Property Size1,806 SF
Price / SF$387.60
Days on Market128
Property Features for 246 Mulberry St #1
General Information
Standard status
Active
Size
1,806 SF
Property subtype
Commercial
Zoning
Redevelopment
Lease Type
Gross
Additional Details
Patio
Yes
Building Details
Building Size
1,806 SF
Year Built
1950
Stories
1
Units
1
Listing Agency:
Exp Realty, LLC
(866) 201-6210
Listed By:
Dean Clark · License #0681077
(201) 240-8319
Source:
Cammarotarealestate
Added: Jun 18
Changed: Oct 22
Last Checked: Oct 22 at 2:33PM
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 Exp Realty, LLC
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Investment Insights
Based on property information with market context.
Configured as a bar and lounge, the interior features brick accents, masonry finishes, marble-patterned flooring, a dry bar with glass shelving, and leather booth seating. Two private bathrooms serve the space. The prep kitchen has a multi-compartment sink, glassware storage, and refrigeration space, while an enclosed patio extends the usable area.
The property is at 246 Mulberry St #1 in Newark City, New Jersey. Its zoning designation is Redevelopment, and the building dates to 1950.
The property is at 246 Mulberry St #1 in Newark City, New Jersey. Its zoning designation is Redevelopment, and the building dates to 1950.
Key Highlights
- Enclosed patio at the rear of the property
- Prep kitchen includes a multi‑compartment sink, glassware shelving, and refrigeration space
- Lounge area has a dry bar, glass shelving, and leather booths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,880
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$777,600
$777.6K
Cap Rate 7%
$555,429
$555.4K
Cap Rate 9%
$432,000
$432.0K
Market Conditions
NOI Build-Up for 1,806 SF
Gross rent
$56.3K $31.20/SF
− Vacancy
−$4.5K −$2.50/SF
EGI
$51.8K $28.70/SF
− OpEx
−$13.0K −$7.18/SF
NOI
$38.9K $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%
$777,600
Cap Rate 7%
$555,429
Cap Rate 9%
$432,000
Alternative Uses
Best Use
Specialty Retail
$555.4K
$486.0K – $648.0K
NOI $38,880 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$639.9K
$559.9K – $746.6K
NOI $44,793 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,920
Businesses Nearby
208k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 36%
Hotels & Casinos 12%
Apparel 6%
McDonald's
Dining
45,223 visits/mo
0.3 miles
DoubleTree by Hilton Newark Penn Station
Hotels & Casinos
16,051 visits/mo
0.4 miles
Exxon
Shops & Services
11,797 visits/mo
0.2 miles
Starbucks
Dining
11,346 visits/mo
0.5 miles
Bank of America
Shops & Services
11,294 visits/mo
0.5 miles
Demographics for 07102, NJ
15,047
Population
6,574
Households
2.3
Avg Household Size
34
Median Age
30%
College-Educated
82%
High-School Grad
1.1 sq mi
ZIP Area
13,679
Density / Sq Mi
$37,093
Median Household Income
$42,234
Median Earnings
$1,141
Median Rent
$293,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- The Village Bar & Restaurant — 454 Mulberry St, Newark, NJ 07114
- Europa Liquors — 157 Pacific St, Newark, NJ 07105
- San Diablo Lounge — 113 Delancy St, Newark, NJ 07105
- Zip Zip Snack Bar — 351 Chestnut St, Newark, NJ 07105
- Mamazzita | Ecuadorian Cuisine — 383 Chestnut St, Newark, NJ 07105
Frequently Asked Questions
What type of property is this?
Bar & Pub - The space includes a prep kitchen, two private bathrooms, and an enclosed patio.
Where is this bar & pub located?
The property is located at 246 Mulberry St #1 Newark, NJ.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Enclosed patio at the rear of the property; Prep kitchen includes a multi‑compartment sink, glassware shelving, and refrigeration space; Lounge area has a dry bar, glass shelving, and leather booths
