Mixed-Use Property with
For Sale
$1,585,000
47 Malvern St, Newark, NJ 07105
Two residential units sit above ground-floor commercial space occupied by a hair salon and restaurant.
Property Size5,350 SF
Days on Market48
Property Features for 47 Malvern St
General Information
Standard status
Active
Size
5,350 SF
Property subtype
Commercial
Site & Location
Neighborhood
South Ironbound
Public Transit
Yes
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Floor
Ground
Taxes and HOA fees
Annual Taxes
$14,928
Building Details
Building Size
5,350 SF
Stories
3
Units
5
Listed By:
NILMARA BORRELLO · License #789663
(973) 277-9663
Source:
Elliman
Added: Sep 10
Changed: Oct 26
Last Checked: Oct 26 at 4:05PM
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 NILMARA BORRELLO
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Investment Insights
Based on property information with market context.
This mixed-use property combines two three-bedroom apartments with two ground-floor commercial spaces currently used as a hair salon and restaurant. The offering includes the real estate only; the operating businesses are excluded from the sale.
Located at 47 Malvern St in Newark’s Ironbound neighborhood, the property is near shopping, supermarkets, restaurants, and daily conveniences. Walk Score is 97, Transit Score is 75, and Bike Score is 64, reflecting strong pedestrian access, transit connectivity, and bikeability.
Located at 47 Malvern St in Newark’s Ironbound neighborhood, the property is near shopping, supermarkets, restaurants, and daily conveniences. Walk Score is 97, Transit Score is 75, and Bike Score is 64, reflecting strong pedestrian access, transit connectivity, and bikeability.
Key Highlights
- Two 3‑bedroom apartments
- Two ground‑floor commercial spaces
- Current ground‑floor uses include a hair salon and restaurant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,456
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,949,120
$1.9M
Cap Rate 7%
$1,392,229
$1.4M
Cap Rate 9%
$1,082,844
$1.1M
Market Conditions
NOI Build-Up for 5,350 SF
Gross rent
$141.2K $26.40/SF
− Vacancy
−$11.3K −$2.11/SF
EGI
$129.9K $24.29/SF
− OpEx
−$32.5K −$6.07/SF
NOI
$97.5K $18.22/SF
Area
ZIP 07105
Vacancy
8.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,949,120
Cap Rate 7%
$1,392,229
Cap Rate 9%
$1,082,844
Alternative Uses
Best Use
Specialty Retail
$1.39M
$1.22M – $1.62M
NOI $97,456 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$1.17M
$1.03M – $1.37M
NOI $82,098 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,947 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,086
Businesses Nearby
Explore this area
Business Placement
Demographics for 07105, NJ
50,870
Population
20,608
Households
2.5
Avg Household Size
35
Median Age
15%
College-Educated
70%
High-School Grad
4.6 sq mi
ZIP Area
11,059
Density / Sq Mi
$55,752
Median Household Income
$33,175
Median Earnings
$1,600
Median Rent
$445,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two residential units sit above ground-floor commercial space occupied by a hair salon and restaurant.
Where is this mixed-use property located?
The property is located at 47 Malvern St Newark, NJ.
What is the asking price?
The asking price for this property is $1,585,000.
What are key features of this property?
This property features: Two 3‑bedroom apartments; Two ground‑floor commercial spaces; Current ground‑floor uses include a hair salon and restaurant
