Mixed-Use Property with Grocery
566 Hawthorne Ave, Newark, NJ 07112
Mixed-use property featuring a grocery store, apartments, and parking.
Property size:
4,941 SFPrice / SF:
$242/SF- Added:
- May 7, 2025
- Days on Market:
- 391
- Last Refresh:
- Mar 16 at 9:09 am
Property Features for 566 Hawthorne Ave
General Information
- Standard status
- Active
- Size
- 4,941 SF
Listing agent SILVIA LITUMA
Listing office NEW DIRECTION REALTY
Listing date May 7, 2025
Source Corcoran
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
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.
- Parking lot is approved for building a 2‑family home, offering expansion or development opportunity.
- Total property square footage of 4,941 provides substantial space for commercial and residential use.
- ADT security system and cameras are already installed.
Overview
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.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $154.2k | $31.20 |
| − Vacancy | −$12.3k | −$2.50 |
| EGI | $141.8k | $28.70 |
| − OpEx | −$35.5k | −$7.18 |
| NOI | $106.4k | $21.53 |
4,941 SF · lease $31.20/SF/yr · vacancy 8.00% · expense 25.00%
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 local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Grocery and convenience stores
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.2174
- Latitude
- 40.7207
Nearby Similar for Sale
FAQs
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.
