Development Opportunity in University
For Sale
$1,600,000
295 Morris Ave, Newark, NJ 07103
Approved for 27 units and 5,500 SF commercial space.
Property SizeContact for details
Days on Market312
Property Features for 295 Morris Ave
General Information
Standard status
Active
Property subtype
Land or Vacant Lot
Taxes and HOA fees
Annual Taxes
$1,140
Amenities
Level Lot
Listing Agency:
SIGNATURE REALTY NJ
(973) 921-1111
Listed By:
DANIEL F. SANTOS · License #2295210
(973) 296-2739
Source:
Corcoran
Added: Nov 4, 2025
Changed: Sep 11
Last Checked: Sep 11 at 7:20AM
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 SIGNATURE REALTY NJ
Investment Insights
Based on property information with market context.
A development opportunity is available in Newark's University Heights. The property consists of five contiguous lots at 303 Morris Ave, with approvals for a 27-unit residential building. The building plans include approximately 5,500 square feet of ground-floor commercial space. The parcel is located near established apartment communities and academic facilities, with access to transit, universities, and downtown Newark. This location may be suitable for a multifamily and retail project.
Key Highlights
- Shovel‑ready approvals for a 27‑unit residential building with approximately 5,500 SF of ground‑floor commercial space.
- Five contiguous lots in Newark's University Heights.
- Strong rental demand due to proximity to universities and established apartment communities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,857
Businesses Nearby
Explore this area
Business Placement
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
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Frequently Asked Questions
What type of property is this?
Commercial land - Approved for 27 units and 5,500 SF commercial space.
Where is this commercial land located?
The property is located at 295 Morris Ave Newark, NJ.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Shovel‑ready approvals for a 27‑unit residential building with approximately 5,500 SF of ground‑floor commercial space.; Five contiguous lots in Newark's University Heights.; Strong rental demand due to proximity to universities and established apartment communities.
