Mixed-Use Property with Grocery
For Sale
$1,200,000
566 Hawthorne Ave, Newark, NJ 07112
Mixed-use property featuring a grocery store, apartments, and parking.
Property Size4,941 SF
Price / SF$242.87
Days on Market527
Property Features for 566 Hawthorne Ave
General Information
Standard status
Active
Size
4,941 SF
Taxes and HOA fees
Annual Taxes
$5,620
Listing Agency:
NEW DIRECTION REALTY
Listed By:
SILVIA LITUMA
Source:
Corcoran
Added: May 7, 2025
Changed: Mar 16
Last Checked: Sep 18 at 7:20AM
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 NEW DIRECTION REALTY
Investment Insights
Based on property information with market context.
This mixed-use property offers a total of 4,941 square feet and includes both commercial and residential spaces. The first floor features a renovated one-bedroom apartment with a living room, dining room, kitchen, and bathroom. Additionally, the first floor houses an existing 2,880 square foot grocery store/retail space. The grocery store, named "STACK N SMACK", is equipped with new shelving, a three-door fridge, a custom counter, a deli sandwich prep table with coolers, a TOAST POS self-ordering kiosk, cameras, ADT security, and LED smoke shop displays. The second floor contains two renovated apartments, each featuring two bedrooms, a living room, a dining room, a full bathroom, and a kitchen. A parking lot is located on the side of the building, generating $2,000 monthly from truck parking. The township has approved the parking lot for the construction of a two-family home.
Key Highlights
- Existing grocery store/retail space (2880 sqf) with new shelving, signage, and equipment (3‑door fridge, custom counter, deli prep table, POS kiosk, security system).
- Three renovated apartments (one 1‑bedroom, two 2‑bedroom) providing immediate rental income potential.
- Parking lot generates $2,000 monthly income from truck parking.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,370
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,127,400
$2.1M
Cap Rate 7%
$1,519,571
$1.5M
Cap Rate 9%
$1,181,889
$1.2M
Market Conditions
NOI Build-Up for 4,941 SF
Gross rent
$154.2K $31.20/SF
− Vacancy
−$12.3K −$2.50/SF
EGI
$141.8K $28.70/SF
− OpEx
−$35.5K −$7.18/SF
NOI
$106.4K $21.53/SF
Area
Newark, NJ
Vacancy
8.00%
Lease Rate
$31.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,127,400
Cap Rate 7%
$1,519,571
Cap Rate 9%
$1,181,889
Alternative Uses
Best Use
Specialty Retail
$1.52M
$1.33M – $1.77M
NOI $106,370 @ 7.0% cap · market cap 8.86%
Second Best
Retail
$1.35M
$1.18M – $1.57M
NOI $94,319 @ 7.0% cap · market cap 7.86%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,547 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,621
Businesses Nearby
Explore this area
Business Placement
Demographics for 07112, NJ
29,773
Population
11,779
Households
2.5
Avg Household Size
34
Median Age
18%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
21,266
Density / Sq Mi
$55,171
Median Household Income
$35,709
Median Earnings
$1,334
Median Rent
$306,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring a grocery store, apartments, and parking.
Where is this mixed-use property located?
The property is located at 566 Hawthorne Ave Newark, NJ.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Existing grocery store/retail space (2880 sqf) with new shelving, signage, and equipment (3‑door fridge, custom counter, deli prep table, POS kiosk, security system).; Three renovated apartments (one 1‑bedroom, two 2‑bedroom) providing immediate rental income potential.; Parking lot generates $2,000 monthly income from truck parking.
