Triplex with Full
For Sale
$699,000
45 Columbia Avenue, Newark, NJ 07106
Residential Income, Newark, NJ
Property Size2,998 SF
Lot Size0.09 Acres
Price / SF$233.16
Days on Market12
Property Features for 45 Columbia Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Buyer Should Verify
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bathroom 3, Basement
Parking features
On Street
Patio and Porch features
Porch
Interior features
Unit 1(3 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 2(3 Bedrooms, Kitchen, 1 Bath), Unit 3(1 Bedroom, Kitchen, 1 Bath), Unit 4(1 Bedroom, Kitchen, 1 Bath)
Exterior features
Porch
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator), Unit 3(Range/Oven, Refrigerator), Unit 4(Range/Oven, Refrigerator)
Elementary school district
Newark City School District
Middle school district
Newark City School District
High school district
Newark City School District
Directions
S. Orange Ave. To S Munn Ave., turn right onto Plymouth St., turn right onto Columbia Ave. Property
Standard status
Active
APN
1404034000000070
Size
2,998 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6366
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
1915
Floors in Building
3
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
BEST REALTY · RE/MAX International
(732) 819-8895
Listed By:
Na''Imah Mcleod
(908) 770-0495
Added: Sep 21
Changed: Sep 30
Last Checked: Oct 2 at 11:06AM
MLS# 2704934R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex in Newark contains 2,998 square feet on a 0.0863-acre lot. A full basement provides additional storage and utility space, while a porch adds an exterior feature. The building was constructed in 1915 and has vinyl siding, hot-water baseboard heat, and ceiling fans. Public water and sewer serve the property.
The property is located at 45 Columbia Avenue. On-street parking is available.
The property is located at 45 Columbia Avenue. On-street parking is available.
Key Highlights
- 2,998‑square‑foot triplex on a 0.0863‑acre lot
- Full basement with storage and utility space
- Built in 1915; vinyl siding
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 covered porch and basement add useful space to this Newark multifamily property.
Where is this triplex located?
The property is located at 45 Columbia Avenue 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: 2,998‑square‑foot triplex on a 0.0863‑acre lot; Full basement with storage and utility space; Built in 1915; vinyl siding
