6-Unit Apartment Building with
For Sale
$990,000
526 Market St, Clifton, NJ 07015
Six apartments offer varied layouts, separate utilities, gas heat, and shared basement laundry facilities.
Property Size4,032 SF
Price / SF$245.54
Days on Market49
Property Features for 526 Market St
General Information
Standard status
Active
Size
4,032 SF
Property subtype
Commercial
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
6
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$11,805
Amenities
coin-operated washer and dryer
4+ Units Heating
Baseboard - Hotwater Heating
Flat Roof
Building Details
Buildings
1
Listing Agency:
WEICHERT REALTORS
(732) 494-6800
Listed By:
JOSH CLINGENSMITH
Source:
Corcoran
Added: Aug 29
Changed: Oct 15
Last Checked: Oct 14 at 11:17PM
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 WEICHERT REALTORS
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,032-square-foot apartment property contains six residential units: four with one bedroom and one bathroom, plus two with two bedrooms and one bathroom. Each apartment includes a living room and eat-in kitchen. Separate utility service and gas heat support straightforward building operations, while the basement contains coin-operated laundry equipment. The property is fully occupied, with most residents on month-to-month agreements and one lease scheduled to expire in December.
The building is located at 526 Market St in Newark’s Ironbound section, within a short distance of Newark Penn Station, Harrison PATH, Riverfront Park, Red Bull Arena, the Prudential Center, shopping, and dining. The sale is strictly AS-IS; the buyer is responsible for obtaining the Certificate of Occupancy and Fire Certificate.
The building is located at 526 Market St in Newark’s Ironbound section, within a short distance of Newark Penn Station, Harrison PATH, Riverfront Park, Red Bull Arena, the Prudential Center, shopping, and dining. The sale is strictly AS-IS; the buyer is responsible for obtaining the Certificate of Occupancy and Fire Certificate.
Key Highlights
- 6‑unit apartment building with 4,032 SF
- Unit mix includes four 1BR/1BA apartments and two 2BR/1BA apartments
- Fully occupied; most tenants are on month‑to‑month agreements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,004
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,240,080
$1.2M
Cap Rate 7%
$885,771
$885.8K
Cap Rate 9%
$688,933
$688.9K
Market Conditions
NOI Build-Up for 4,032 SF
Gross rent
$121.0K $30.00/SF
− Vacancy
−$8.2K −$2.04/SF
EGI
$112.7K $27.96/SF
− OpEx
−$50.7K −$12.58/SF
NOI
$62.0K $15.38/SF
Area
Passaic County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,240,080
Cap Rate 7%
$885,771
Cap Rate 9%
$688,933
Alternative Uses
Best Use
Apartment 5plus
$885.8K
$775.1K – $1.03M
NOI $62,004 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$921.2K – $1.23M
NOI $73,699 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,247
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Six apartments offer varied layouts, separate utilities, gas heat, and shared basement laundry facilities.
Where is this apartment building located?
The property is located at 526 Market St Clifton, NJ.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: 6‑unit apartment building with 4,032 SF; Unit mix includes four 1BR/1BA apartments and two 2BR/1BA apartments; Fully occupied; most tenants are on month‑to‑month agreements
