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    441 Mount Prospect Ave Newark, NJ 07104

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    For Sale
    $2,799,000

    Mixed-use building with residential units and commercial storefronts in Newark.

    Property Features for 441 Mount Prospect Ave

    General Information

    Standard status
    Active

    Building Details

    Year built
    9999

    Source: ROSA AGENCY Agent JAMES ROSA

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Investment Opportunity, Newark City

    This mixed-use building is located in a high-traffic business district. The property features 10 fully-leased residential units, comprising a mix of 1- and 2-bedroom apartments with strong rental histories. Additionally, there are 2 ground-level commercial storefronts that benefit from high visibility and foot traffic, suitable for retail, office, or service-based tenants. The property offers cash flow and long-term appreciation potential.
    Location Intelligence

    Current Use by Public Records

    Alexandra Food Center Supermarket

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.169569
    Latitude
    40.7669684

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building with residential units and commercial storefronts in Newark.
    Where is this mixed-use property located?
    The property is located at 441 Mount Prospect Ave Newark, NJ.
    What is the asking price?
    The asking price for this property is $2,799,000.
    What are key features of this property?
    This property features: - Prime mixed-use building in a high-traffic business district.; - 100% occupancy with 10 fully-leased residential units and 2 ground-level commercial storefronts.; - Excellent cash flow and long-term appreciation potential.
    Request Owner's contact information
    441 Mount Prospect Ave Newark, NJ 07104
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    Newark, NJ 07104
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    441 Mount Prospect Ave Newark, NJ 07104
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