Brick Mixed-Use Investment
New
For Sale
$990,000
304 South St, Newark, NJ 07114
Well-maintained brick building with commercial space, residential units, separate utilities, and updated kitchens and baths.
Property Size3,484 SF
Price / SF$284.16
Days on Market4
Property Features for 304 South St
General Information
Standard status
Active
Size
3,484 SF
Property subtype
Commercial
Financials
Cap Rate
8%
Gross Income
$128,400
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
4
Amenities
private paved backyard
basement storage
Central air
Corner
On-Street Parking
Paver Block
Radiators - Hot Water Heating
Radiators - Steam Heating
Wall A/C Unit(s) Cooling
Building Details
Year Built
1920
Buildings
1
Construction
brick
Listing Agency:
KELLER WILLIAMS - NJ METRO GROUP
(973) 783-7400
Listed By:
CHERYL DARMANIN · License #1111786
Source:
Corcoran
Added: Jul 28
Changed: Jul 31
Last Checked: Jul 31 at 1:42PM
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.
This 3,484-square-foot mixed-use property is a well-maintained brick building constructed in 1920. The layout includes two street-level commercial spaces and four residential units, with kitchens and baths updated within the last 10 years. Additional features include basement storage, a private paved backyard, and separate utilities.
The property is located in Newark’s established West Side corridor, with access to downtown Newark, NJ Transit, and major highways. The asset is being sold as an REO property strictly AS-IS, with no repairs by the seller. Interior access is being secured, and offers are subject to a full physical inspection contingency. The stated 8.0% cap rate and income figures require independent verification by the buyer.
The property is located in Newark’s established West Side corridor, with access to downtown Newark, NJ Transit, and major highways. The asset is being sold as an REO property strictly AS-IS, with no repairs by the seller. Interior access is being secured, and offers are subject to a full physical inspection contingency. The stated 8.0% cap rate and income figures require independent verification by the buyer.
Key Highlights
- Two street‑level commercial spaces plus four residential units
- 3,484 SF brick mixed‑use building constructed in 1920
- Kitchens and baths updated within the last 10 years
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $104.5k | $30.00 |
| − Vacancy | −$9.5k | −$2.73 |
| EGI | $95.0k | $27.27 |
| − OpEx | −$28.5k | −$8.18 |
| NOI | $66.5k | $19.09 |
3,484 SF · lease $30.00/SF/yr · vacancy 9.10% · expense 30.00%
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,536
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
Properties on Market for Mixed-use properties in Essex County
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 - Well-maintained brick building with commercial space, residential units, separate utilities, and updated kitchens and baths.
Where is this mixed-use property located?
The property is located at 304 South St 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 plus four residential units; 3,484 SF brick mixed‑use building constructed in 1920; Kitchens and baths updated within the last 10 years
