6-Unit Apartment
New
For Sale
$990,000
526 Market St, Newark, NJ 07105
Fully occupied multifamily property with separate utilities, gas heat, and a coin-operated laundry in the basement.
Property Size4,032 SF
Price / SF$245.54
Days on Market5
Property Features for 526 Market St
General Information
Standard status
Active
Size
4,032 SF
Occupancy
100%
Site & Location
Neighborhood
Ironbound
Public Transit
Yes
Units
Unit Mix
4 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
6
Additional Details
Tenant in Place
Yes
Amenities
coin-operated washer and dryer
Building Details
Buildings
1
Listing Agency:
WEICHERT REALTORS
Listed By:
DINA BATISTA
(973) 207-0296
Source:
Luminancerealty
Added: Oct 20
Changed: Oct 23
Last Checked: Sep 10 at 8:42AM
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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Investment Insights
Based on property information with market context.
This six-unit apartment building contains four one-bedroom, one-bathroom residences and two two-bedroom, one-bathroom residences. Each unit has a living room and an eat-in kitchen. The building has separate utilities and gas heat, with a coin-operated washer and dryer in the basement.
The property is in Newark’s Ironbound section, a short distance from Newark Penn Station, Harrison PATH, Riverfront Park, Red Bull Arena, the Prudential Center, shopping, and dining. Most occupants are on month-to-month agreements; one lease runs through December.
The building is fully occupied and is being sold as-is. The buyer is responsible for obtaining the Certificate of Occupancy and Fire Certificate. The property passed DSC.
The property is in Newark’s Ironbound section, a short distance from Newark Penn Station, Harrison PATH, Riverfront Park, Red Bull Arena, the Prudential Center, shopping, and dining. Most occupants are on month-to-month agreements; one lease runs through December.
The building is fully occupied and is being sold as-is. The buyer is responsible for obtaining the Certificate of Occupancy and Fire Certificate. The property passed DSC.
Key Highlights
- Six units: four 1BR/1BA and two 2BR/1BA
- All apartments include a living room and eat‑in kitchen
- Separate utilities and gas heat
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,872
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,237,440
$1.2M
Cap Rate 7%
$883,886
$883.9K
Cap Rate 9%
$687,467
$687.5K
Market Conditions
NOI Build-Up for 4,032 SF
Gross rent
$118.5K $29.40/SF
− Vacancy
−$6.0K −$1.50/SF
EGI
$112.5K $27.90/SF
− OpEx
−$50.6K −$12.56/SF
NOI
$61.9K $15.35/SF
Area
ZIP 07105
Vacancy
5.10%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,237,440
Cap Rate 7%
$883,886
Cap Rate 9%
$687,467
Alternative Uses
Best Use
Apartment 5plus
$883.9K
$773.4K – $1.03M
NOI $61,872 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,948 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,654
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with separate utilities, gas heat, and a coin-operated laundry in the basement.
Where is this apartment building located?
The property is located at 526 Market St Newark, 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: Six units: four 1BR/1BA and two 2BR/1BA; All apartments include a living room and eat‑in kitchen; Separate utilities and gas heat
