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    524 Central Ave Newark, NJ 07107

    For Sale
    $350,000

    Mixed-use building in Newark's Fairmount neighborhood, ready for repositioning.

    Property size:
    5,500 SF

    Property Features for 524 Central Ave

    General Information

    Size
    5,500 SF

    Building Details

    Year built
    1979

    Source: KELLER WILLIAMS - NJ METRO GROUP Agent CHERYL DARMANIN

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Newark Mixed-Use Redevelopment Opportunity

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1954958
    Latitude
    40.7485346

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    FAQs

    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.
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    Newark, NJ 07107
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    524 Central Ave Newark, NJ 07107
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