Mixed-Use Investment Opportunity in
For Sale
$750,000
474 15Th Ave, Newark, NJ 07103
Mixed-use property with residential units and commercial storefront.
Property Size3,200 SF
Lot Size0.06 Acres
Price / SF$234.38
Days on Market156
Property Features for 474 15Th Ave
General Information
Standard status
Active
Size
3,200 SF
Lot size
0.06 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$19,451
Amenities
Central air
2 Units Cooling
2 Units Heating
Flat Roof
Off-Street Parking
Radiant - Hot Water Heating
Wall A/C Unit(s) Cooling
Building Details
Year Built
1950
Listing Agency:
TWIN OAKS GROUP LLC
(201) 305-0135
Listed By:
TELEAH BUTLER
Source:
Corcoran
Added: Mar 27
Changed: Aug 27
Last Checked: Aug 29 at 6:18AM
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 TWIN OAKS GROUP LLC
Investment Insights
Based on property information with market context.
This mixed-use corner property in Newark presents an investment opportunity, featuring a commercial storefront and two residential units. The residential component includes one three-bedroom unit and one two-bedroom unit. The property is situated in a high-demand urban area characterized by strong visibility and foot traffic. Its location offers convenient access to major highways, public transportation, shopping, and local amenities. The property size is 3200 square feet. The property is being sold as-is. Buyers are responsible for verifying all property details including zoning, square footage, and usage. This property is suited for investors or owner-occupants seeking rental income generation.
Key Highlights
- Mixed‑use property with residential and commercial units offering excellent income potential.
- Prime corner location in a high‑demand urban area with strong visibility and foot traffic.
- Two residential units: one 3‑bedroom and one 2‑bedroom.
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
$58,124
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
7.75%
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%
$1,162,480
$1.2M
Cap Rate 7%
$830,343
$830.3K
Cap Rate 9%
$645,822
$645.8K
Market Conditions
NOI Build-Up for 3,200 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
$111.4K $34.80/SF
− Vacancy
−$5.7K −$1.77/SF
EGI
$105.7K $33.03/SF
− OpEx
−$47.6K −$14.86/SF
NOI
$58.1K $18.16/SF
Area
ZIP 07103
Vacancy
5.10%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,162,480
Cap Rate 7%
$830,343
Cap Rate 9%
$645,822
Alternative Uses
Best Use
Apartment 5plus
$830.3K
$726.6K – $968.7K
NOI $58,124 @ 7.0% cap · market cap 7.75%
Second Best
Mixed Use
$693.9K
$607.2K – $809.6K
NOI $48,576 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$1.14M
$1.00M – $1.34M
NOI $80,118 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,535
Businesses Nearby
Explore this area
Business Placement
Demographics for 07103, NJ
39,439
Population
13,832
Households
2.9
Avg Household Size
30
Median Age
21%
College-Educated
81%
High-School Grad
2.2 sq mi
ZIP Area
17,927
Density / Sq Mi
$42,397
Median Household Income
$34,278
Median Earnings
$1,289
Median Rent
$259,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with residential units and commercial storefront.
Where is this mixed-use property located?
The property is located at 474 15Th Ave Newark, NJ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Mixed‑use property with residential and commercial units offering excellent income potential.; Prime corner location in a high‑demand urban area with strong visibility and foot traffic.; Two residential units: one 3‑bedroom and one 2‑bedroom.
