Newark Commercial Property For
For Sale
$1,999,000
Pending
34 Foster St, Newark, NJ 07114
Mixed-use property with warehouse and storefront spaces in Newark.
Property Size6,250 SF
Lot Size0.14 Acres
Days on Market227
Property Features for 34 Foster St
General Information
Standard status
Pending
Size
6,250 SF
Lot size
0.14 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$20,152
Amenities
1 Car Width
Flat Roof
Building Details
Year Built
9999
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
CARLIE CARREIRA
(973) 583-0149
Source:
Corcoran
Added: Jan 20
Changed: Aug 8
Last Checked: Jul 23 at 8:57AM
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
Investment Insights
Based on property information with market context.
This commercial property is located on Foster Street in Newark, steps from the Lions Gate development. The property includes two warehouse spaces with access from Foster Street, suitable for storage, distribution, or light industrial use. Additionally, the property features three street-level commercial storefronts along Frelinghuysen Avenue, offering visibility and income potential. The property is positioned in a developing area. The property size is 6,250 square feet.
Key Highlights
- Prime location on Foster Street, near the new Lions Gate development.
- Three street‑level commercial storefronts on Frelinghuysen Avenue offer high visibility and income potential.
- Two warehouse spaces with Foster Street access suitable for storage, distribution, or light industrial use.
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
$119,306
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
5.97%
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%
$2,386,120
$2.4M
Cap Rate 7%
$1,704,371
$1.7M
Cap Rate 9%
$1,325,622
$1.3M
Market Conditions
NOI Build-Up for 6,250 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
$187.5K $30.00/SF
− Vacancy
−$17.1K −$2.73/SF
EGI
$170.4K $27.27/SF
− OpEx
−$51.1K −$8.18/SF
NOI
$119.3K $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%
$2,386,120
Cap Rate 7%
$1,704,371
Cap Rate 9%
$1,325,622
Alternative Uses
Best Use
Retail
$1.70M
$1.49M – $1.99M
NOI $119,306 @ 7.0% cap · market cap 5.97%
Second Best
Mixed Use
$1.42M
$1.25M – $1.66M
NOI $99,609 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $155,013 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
424
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with warehouse and storefront spaces in Newark.
Where is this mixed-use property located?
The property is located at 34 Foster St Newark, NJ.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Prime location on Foster Street, near the new Lions Gate development.; Three street‑level commercial storefronts on Frelinghuysen Avenue offer high visibility and income potential.; Two warehouse spaces with Foster Street access suitable for storage, distribution, or light industrial use.
