Building Details

Building Size 3,000 SF

Year Built 1940

Tenancy Multi

Listing Agency: KINGSTONE REALTY

Listed By: JOON LEE Show Phone

Source: Citywestrealestate

Added: Sep 2 Changed: Oct 26 Last Checked: Oct 26 at 12:15PM

Report an Issue

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 KINGSTONE REALTY

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This freestanding storefront property contains 3,000 square feet and was built in 1940. Three businesses occupy the building: a cleaner, a check-cashing operation, and a services agency.

The property is at the corner of Bloomfield Avenue and 8th Street in Newark, New Jersey.

Key Highlights

• 3,000‑square‑foot freestanding storefront property
• Occupied by three businesses: a cleaner, check‑cashing operation, and services agency
• Corner location at Bloomfield Avenue and 8th Street in Newark, New Jersey

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,597

Cap Rate

3.25%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$811,940 $811.9K

Cap Rate 7%

$579,957 $580.0K

Cap Rate 9%

$451,078 $451.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,000 SF

Gross rent

$64.8K $21.60/SF

− Vacancy

−$6.8K −$2.27/SF

EGI

$58.0K $19.33/SF

− OpEx

−$17.4K −$5.80/SF

NOI

$40.6K $13.53/SF

Area

ZIP 07107

Vacancy

10.50%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$811,940

Cap Rate 7%

$579,957

Cap Rate 9%

$451,078

Alternative Uses

Best Use

Retail

$580.0K

$507.5K – $676.6K (±1% cap)

NOI $40,597 @ 7.0% cap · market cap 3.25%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.17M

$1.03M – $1.37M (±1% cap)

NOI $82,152 @ 7.0% cap · market cap 6.57%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Veterinary Clinic Computer & Electronic Repair Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,290

Businesses Nearby

36k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 53% Dining 41% Home Improvements & Furnishings 5%

Wells Fargo Shops & Services

9,804 visits/mo 0.1 miles

Sunoco Shops & Services

8,453 visits/mo 0.5 miles

Wingstop Dining

6,174 visits/mo 0.2 miles

Domino's Pizza Dining

3,993 visits/mo 0.3 miles

Carvel Ice Cream Dining

2,779 visits/mo 0.1 miles

Demographics for 07107, NJ

41,627

Population

16,084

Households

2.6

Avg Household Size

33

Median Age

13%

College-Educated

77%

High-School Grad

1.6 sq mi

ZIP Area

26,017

Density / Sq Mi

$49,892

Median Household Income

$35,700

Median Earnings

$1,259

Median Rent

$353,300

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Similar For Sale Nearby

See more

Storefront Property in Redevelopment Zone

721 Springfield Ave, Newark, NJ 07103

$1,300,000

View details

Mixed-Use Property with Retail Storefront

674 Mount Prospect Ave, Newark, NJ 07104

$950,000

3,500 SF

View details

McWhorter Street Investment Opportunity

168 Mcwhorter St, Newark, NJ 07105

$999,999

2,400 SF

View details

Mixed-Use Property with Apartment

70 Park Ave #70, Newark, NJ 07104

$850,000

2,300 SF

View details

Mixed-Use Building with Retail

948 S Orange Ave #1, Newark, NJ 07106

$899,000

4,700 SF

View details

Mixed-Use Property with Retail Stores

188 Bloomfield Ave, Newark, NJ 07104

$998,000

5,100 SF

View details

Bloomfield Avenue Mixed-Use Investment

148 Bloomfield Ave, Newark, NJ 07104

$750,000

4,561 SF

View details

Three-Unit Storefront Building

391 Hawthorne Ave #393, Newark, NJ 07112

$900,000

5,201 SF

View details

Mixed-Use Building with Storefront

415 Halsey St #417, Newark, NJ 07102

$2,000,000

5,500 SF

View details

Newark Mixed-Use Investment Opportunity

699 Frelinghuysen Ave, Newark, NJ 07114

$1,450,000

11,650 SF

View details

Six-Unit Mixed-Use Property

156 Jefferson St, Newark, NJ 07105

$1,750,000

99,999 SF

View details

Corner Storefront Building

441-445 Bloomfield Ave #3 Ten, Newark, NJ 07107

$1,250,000

View details

Similar Off Market Nearby

• Magic world of roses — 331 Ampere Pkwy, Bloomfield, NJ 07003
• Preston Flowers — 331 ampere pkwy, bloomfield, nj 07003
• The Botanical Box
• The blossom shop — 107 Franklin St, Belleville, NJ 07109

Frequently Asked Questions

What type of property is this?

Storefront property - Cleaning, check-cashing, and agency service businesses currently occupy the building.

Where is this storefront property located?

The property is located at 441-445 Bloomfield Ave Newark, NJ.

What is the asking price?

The asking price for this property is $1,250,000.

What are key features of this property?

This property features: 3,000‑square‑foot freestanding storefront property; Occupied by three businesses: a cleaner, check‑cashing operation, and services agency; Corner location at Bloomfield Avenue and 8th Street in Newark, New Jersey