Multi-Tenant Retail and
347 Sanford Avenue Newark, NJ 07106
For Sale
Contact for pricing
Single-story multi-tenant building with two retail storefronts and one occupied restaurant.
Property Size2,495 SF
Price / SF$240.48
Days on Market19
Property Features for 347 Sanford Avenue
General Information
- Standard status
- Active
- Size
- 2,495 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1917
Listing Agency:
KW Commercial
Listed By:
Bruce Elia · License #NJ 0893523
Source:
Crexi
Added: Jul 6
Changed: Jul 23
Last Checked: Jul 23 at 4:52PM
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 KW Commercial
Investment Insights
Based on property information with market context.
347 Sanford Avenue is a fully occupied, single-story multi-tenant retail property featuring three units: two retail storefronts and one restaurant. The building was originally constructed in 1917 and renovated approximately five years ago, combining historic character with more recent updates.
The property is described as income-producing, with gross annual rental income of $63,600 and net operating income of $57,600, and the owner is responsible only for insurance.
The asset totals 2,495 square feet and is presented as stabilized with all units currently occupied by tenants.
The property is described as income-producing, with gross annual rental income of $63,600 and net operating income of $57,600, and the owner is responsible only for insurance.
The asset totals 2,495 square feet and is presented as stabilized with all units currently occupied by tenants.
Key Highlights
- Fully occupied, income‑producing retail property at 347 Sanford Avenue in Newark, NJ
- Single‑story, multi‑tenant building with 3 units: two retail storefronts and one restaurant
- Building size: 2,495 SF; renovated approximately five years ago
Financial Insights For Specialty 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 | $56.9k | $22.80 |
| − Vacancy | −$4.0k | −$1.60 |
| EGI | $52.9k | $21.20 |
| − OpEx | −$13.2k | −$5.30 |
| NOI | $39.7k | $15.90 |
2,495 SF · lease $22.80/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$566.8K
$496.0K – $661.3K
NOI $39,678 @ 7.0% cap · market cap 6.61%
Second Best
Retail
$482.3K
$422.0K – $562.7K
NOI $33,763 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$976.0K
$854.0K – $1.14M
NOI $68,323 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Wagner Plumbing & Heating
Plumbing Service
D&D's Jamaican Cuisine
Restaurant
R & M COMMUNICATION ...
Marketing & Advertising
Gertrude’s kitchen
Restaurant
Aj Mini Market ...
Department Store
Similar Off Market Nearby
- Maxine's Flowers — 361 S Clinton St, East Orange, NJ 07018
FAQs
What type of property is this?
Storefront property - Single-story multi-tenant building with two retail storefronts and one occupied restaurant.
Where is this storefront property located?
The property is located at 347 Sanford Avenue Newark, NJ.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Fully occupied, income‑producing retail property at 347 Sanford Avenue in Newark, NJ; Single‑story, multi‑tenant building with 3 units: two retail storefronts and one restaurant; Building size: 2,495 SF; renovated approximately five years ago
