Corner Storefront
287 S Orange Ave, Newark, NJ 07103
For Sale
Contact for pricing
Flexible commercial space suited to retail or office use, with high interior ceilings for storage and shelving.
Property Size1,200 SF
Price / SF$2.00
Days on Market57
Property Features for 287 S Orange Ave
General Information
Standard status
Size
Site & Location
Neighborhood
Corner Location
Building Details
Year Built
Listing Agency:
EXIT REALTY LUCKY ASSOCIATES
Listed By:
PATRICK DWYER · License NJ #293621
(908) 627-3563
Source:
Luminancerealty
Added: Sep 19
Changed: Nov 12
Last Checked: Oct 5 at 11:41PM
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 EXIT REALTY LUCKY ASSOCIATES
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,200-square-foot corner storefront building was constructed in 2008 and was most recently used as a pharmacy. The space supports retail or office occupancy and features 13-foot interior ceilings that accommodate shelving and storage needs.
Located at 287 S Orange Ave in Newark’s University Heights/Fairmount corridor, the property is near University Hospital and the Rutgers, NJIT, and New Jersey Medical School campuses. Newark Light Rail and other public transit options provide access for employees and customers.
Located at 287 S Orange Ave in Newark’s University Heights/Fairmount corridor, the property is near University Hospital and the Rutgers, NJIT, and New Jersey Medical School campuses. Newark Light Rail and other public transit options provide access for employees and customers.
Key Highlights
- 1,200‑square‑foot corner storefront building
- Most recently operated as a pharmacy
- 13‑foot interior ceilings for shelving and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,242
Suggested Prices Based on Cap Rates
Cap Rate 5%
$384,840
$384.8K
Cap Rate 7%
$274,886
$274.9K
Cap Rate 9%
$213,800
$213.8K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$30.2K $25.20/SF
− Vacancy
−$2.8K −$2.29/SF
EGI
$27.5K $22.91/SF
− OpEx
−$8.2K −$6.87/SF
NOI
$19.2K $16.03/SF
Area
ZIP 07103
Vacancy
9.10%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$384,840
Cap Rate 7%
$274,886
Cap Rate 9%
$213,800
Alternative Uses
Best Use
Retail
$274.9K
$240.5K – $320.7K
NOI $19,242 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$429.2K
$375.6K – $500.7K
NOI $30,044 @ 7.0% cap
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
2,641
Businesses Nearby
138k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 41%
Electronics 1%
Wendy's
Dining
23,955 visits/mo
0.5 miles
Dunkin' Donuts
Dining
20,567 visits/mo
0.5 miles
Exxon
Shops & Services
16,331 visits/mo
0.4 miles
Applebee's
Dining
13,677 visits/mo
0.4 miles
IHOP
Dining
12,934 visits/mo
0.4 miles
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
$259,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Storefront properties in Newark, NJ
Properties on Market for Storefront properties in Newark
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Newark Florist — 443-220 S 7th St, Newark, NJ 07103
- Floral Shop — Newark, NJ 07103
- Geneva Florist — 340 S 10th St, Newark, NJ 07103
- Benevolent — 196 12th ave, newark, nj 07107
- Couture Gardens — 296 Central Ave, Newark, NJ 07103
Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial space suited to retail or office use, with high interior ceilings for storage and shelving.
Where is this storefront property located?
The property is located at 287 S Orange Ave Newark, NJ.
What are key features of this property?
This property features: 1,200‑square‑foot corner storefront building; Most recently operated as a pharmacy; 13‑foot interior ceilings for shelving and storage
