Brick Mixed-Use
For Sale
$990,000
304 S Orange Ave, Newark, NJ 07114
Street-level commercial space and residential apartments are supported by separate utilities, basement storage, and a private paved backyard.
Property Size3,484 SF
Days on Market13
Property Features for 304 S Orange Ave
General Information
Standard status
Active
Size
3,484 SF
Property subtype
Commercial
Financials
Cap Rate
8%
Gross Income
$128,400
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,125
Amenities
basement storage
private backyard
Building Details
Building Size
3,484 SF
Year Built
1920
Buildings
1
Stories
3
Units
6
Construction
brick
Tenancy
Multi
Listing Agency:
KELLER WILLIAMS - NJ METRO GROUP
(973) 783-7400
Listed By:
CHERYL DARMANIN · License #111786,NEWJERSEY
Source:
Elliman
Added: Jul 30
Changed: Aug 7
Last Checked: Aug 10 at 5:33AM
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 KELLER WILLIAMS - NJ METRO GROUP
Investment Insights
Based on property information with market context.
Built in 1920, this brick mixed-use building combines two street-level commercial spaces with four residential units. The configuration supports a blend of commercial and residential occupancy within one property, with separate utilities serving the building. Kitchens and baths were updated within the last 10 years. Additional features include basement storage and a private paved backyard.
Located in Newark, New Jersey, the property is positioned near downtown Newark, NJ Transit, and major highways. The property is being sold as-is, with the seller making no repairs. Interior access is being arranged for unit inspections and buyer due diligence.
Located in Newark, New Jersey, the property is positioned near downtown Newark, NJ Transit, and major highways. The property is being sold as-is, with the seller making no repairs. Interior access is being arranged for unit inspections and buyer due diligence.
Key Highlights
- Two street‑level commercial spaces and four residential units
- Brick building constructed in 1920
- Kitchens and baths updated within the last 10 years
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$66,506
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,330,120
$1.3M
Cap Rate 7%
$950,086
$950.1K
Cap Rate 9%
$738,956
$739.0K
Market Conditions
NOI Build-Up for 3,484 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$104.5K $30.00/SF
− Vacancy
−$9.5K −$2.73/SF
EGI
$95.0K $27.27/SF
− OpEx
−$28.5K −$8.18/SF
NOI
$66.5K $19.09/SF
Area
Newark, NJ
Vacancy
9.10%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,330,120
Cap Rate 7%
$950,086
Cap Rate 9%
$738,956
Alternative Uses
Best Use
Retail
$950.1K
$831.3K – $1.11M
NOI $66,506 @ 7.0% cap · market cap 6.72%
Second Best
Mixed Use
$793.2K
$694.1K – $925.4K
NOI $55,526 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,410 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,469
Businesses Nearby
Explore this area
Business Placement
Demographics for 07114, NJ
17,767
Population
4,694
Households
3.8
Avg Household Size
39
Median Age
9%
College-Educated
69%
High-School Grad
7.9 sq mi
ZIP Area
2,249
Density / Sq Mi
$34,167
Median Household Income
$35,916
Median Earnings
$616
Median Rent
$384,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level commercial space and residential apartments are supported by separate utilities, basement storage, and a private paved backyard.
Where is this mixed-use property located?
The property is located at 304 S Orange Ave Newark, NJ.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Two street‑level commercial spaces and four residential units; Brick building constructed in 1920; Kitchens and baths updated within the last 10 years
