3-Unit Triplex with Full
New
For Sale
$699,000
45 Columbia Ave, Newark, NJ 07106
A full basement adds storage and utility space to this three-unit residential property.
Property Size2,998 SF
Days on Market4
Property Features for 45 Columbia Ave
General Information
Standard status
Active
Size
2,998 SF
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,366
Building Details
Building Size
2,998 SF
Year Built
1915
Buildings
1
Stories
3
Listing Agency:
Best Realty D.B.A. RE/MAX Best Realty
Listed By:
NA''IMAH MCLEOD
(908) 770-0495
Source:
Elliman
Added: Sep 24
Changed: Sep 27
Last Checked: Sep 26 at 9:03AM
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 Best Realty D.B.A. RE/MAX Best Realty
Investment Insights
Based on property information with market context.
This Newark triplex contains three residential units and a full basement that provides additional storage and utility space. The property was built in 1915 and is tenant occupied, with showings requiring 24 hours’ notice.
Columbia Avenue offers access to nearby shopping, dining, schools, transportation, and major roadways. The property has a Walk Score of 80, a Transit Score of 71, and a Bike Score of 53.
Columbia Avenue offers access to nearby shopping, dining, schools, transportation, and major roadways. The property has a Walk Score of 80, a Transit Score of 71, and a Bike Score of 53.
Key Highlights
- Three residential units
- Full basement for storage and utility space
- Built in 1915
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
$51,802
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
7.41%
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%
$1,036,040
$1.0M
Cap Rate 7%
$740,029
$740.0K
Cap Rate 9%
$575,578
$575.6K
Market Conditions
NOI Build-Up for 2,998 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
$79.1K $26.40/SF
− Vacancy
−$5.1K −$1.72/SF
EGI
$74.0K $24.68/SF
− OpEx
−$22.2K −$7.41/SF
NOI
$51.8K $17.28/SF
Area
ZIP 07106
Vacancy
6.50%
Lease Rate
$26.40 /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%
$1,036,040
Cap Rate 7%
$740,029
Cap Rate 9%
$575,578
Alternative Uses
Best Use
Multifamily LT 5
$740.0K
$647.5K – $863.4K
NOI $51,802 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$646.9K
$566.1K – $754.8K
NOI $45,286 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,097 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,260
Businesses Nearby
Explore this area
Business Placement
Demographics for 07106, NJ
34,596
Population
13,633
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
24,711
Density / Sq Mi
$48,105
Median Household Income
$34,820
Median Earnings
$1,221
Median Rent
$321,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - A full basement adds storage and utility space to this three-unit residential property.
Where is this triplex located?
The property is located at 45 Columbia Ave Newark, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Three residential units; Full basement for storage and utility space; Built in 1915
