Newark Mixed-Use Redevelopment
For Sale
$350,000
524 Central Ave, Newark, NJ 07107
Mixed-use building in Newark's Fairmount neighborhood, ready for repositioning.
Property Size5,500 SF
Price / SF$63.64
Days on Market470
Property Features for 524 Central Ave
General Information
Standard status
Active
Size
5,500 SF
Taxes and HOA fees
Annual Taxes
$6,084
Building Details
Year Built
1979
Listing Agency:
KELLER WILLIAMS - NJ METRO GROUP
Listed By:
CHERYL DARMANIN · License #111786,NEWJERSEY
(973) 783-7400
Source:
Corcoran
Added: May 21, 2025
Changed: Mar 16
Last Checked: Apr 24 at 4:17PM
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 KELLER WILLIAMS - NJ METRO GROUP
Investment Insights
Based on property information with market context.
Located in Newark's Fairmount neighborhood, this is a rare redevelopment opportunity. The 3-story mixed-use corner building has a total area of 5,500 square feet. It features 6 residential units, including five 1-bedroom units and one 3-bedroom unit, along with a 1,200 square foot ground-floor retail space. The property is zoned C-2, which supports a mix of residential and commercial uses. Situated on a 2,367 square foot lot, the building benefits from strong street exposure at the corner of Central Avenue and South 9th Street. The property is currently vacant and ready for repositioning. It offers convenient access to transit and major Newark corridors. This property is being sold in As-Is Condition. Open or outstanding real estate taxes and water/sewer liens are to be paid by the seller at closing. ANS Title is required for Title Insurance.
Key Highlights
- Rare redevelopment opportunity in Newark's Fairmount neighborhood.
- 5,500 SF mixed‑use corner building** with strong street exposure.
- Six residential units (five 1‑bedroom, one 3‑bedroom) plus 1,200 SF ground‑floor retail space.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,419
Businesses Nearby
Explore this area
Business Placement
Demographics for 07107, NJ
41,627
Population
16,084
Households
2.6
Avg Household Size
33
Median Age
13%
College-Educated
77%
High-School Grad
1.6 sq mi
ZIP Area
26,017
Density / Sq Mi
$49,892
Median Household Income
$35,700
Median Earnings
$1,259
Median Rent
$353,300
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 building in Newark's Fairmount neighborhood, ready for repositioning.
Where is this mixed-use property located?
The property is located at 524 Central Ave Newark, NJ.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Rare redevelopment opportunity in Newark's Fairmount neighborhood.; 5,500 SF mixed‑use corner building** with strong street exposure.; Six residential units (five 1‑bedroom, one 3‑bedroom) plus 1,200 SF ground‑floor retail space.
