Newark Investment
391 Hawthorne Ave Newark, NJ 07112
391 Hawthorne Ave, Newark, NJ, 07112
$900,000
For Sale
$900,000
Turnkey property with rental income potential in Newark.
Property Size4,500 SF
Lot Size0.12 Acres
Price / SF$200
Days on Market128
Property Features for 391 Hawthorne Ave
General Information
- Standard status
- Active
- Size
- 4,500 SF
- Lot size
- 0.12 Acres
- Property subtype
- Commercial
Listing Agency
(855) 450-0442
Listed by
CAROLINA CAMPBELL
Source
Elliman
Added: Mar 11 Checked: Jul 16 at 8:51 am
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 CAROLINA CAMPBELL
Investment Insights
Based on property information with market context.
This property in Newark presents an investment opportunity. The building includes three units, two of which are currently rented out on a NNN lease with a right of renewal after five years. Each unit has separate utility meters, with water divided among the three units. The roof was replaced in 2021, and newer hot water heaters have been installed. Each 1,500-square-foot unit includes a 1,000-square-foot basement for storage. Unit 1 is occupied by a community grocery store. Unit 2 was originally occupied by a deli and includes a walk-in cooler, stove, and other equipment that may be available. Unit 3 is also occupied. The owner of the building has the option to expand with first right of refusal on buildings next to the property.
Key Highlights
- Potential for $7,000/month rental income with all three units rented.
- Two units are currently rented on NNN leases with five years remaining and a right of renewal.
- Each unit has its own basement providing an additional 1,000 sqft of storage space.
Local Financial Insights For Multifamily LT 5
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 | $114.5k | $25.44 |
| − Vacancy | −$5.5k | −$1.23 |
| EGI | $108.9k | $24.21 |
| − OpEx | −$32.7k | −$7.26 |
| NOI | $76.3k | $16.95 |
4,500 SF · lease $25.44/SF/yr · vacancy 4.84% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$1.38M
$1.21M – $1.61M
NOI $96,876 @ 7.0% cap · market cap 10.76%
Second Best
Retail
$1.23M
$1.07M – $1.43M
NOI $85,901 @ 7.0% cap · market cap 9.54%
Theoretical Best
Office A
$1.59M
$1.40M – $1.86M
NOI $111,609 @ 7.0% cap · market cap 12.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Turnkey property with rental income potential in Newark.
Where is this triplex located?
The property is located at 391 Hawthorne Ave Newark, NJ.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Potential for $7,000/month rental income with all three units rented.; Two units are currently rented on NNN leases with five years remaining and a right of renewal.; Each unit has its own basement providing an additional 1,000 sqft of storage space.
