577 N 6Th St, Newark, NJ 07107
Investment opportunity: 11-unit apartment building with development potential.
- Added:
- Apr 8, 2025
- Days on Market:
- 443
- Last Refresh:
- Apr 5 at 8:25 pm
Property Features for 577 N 6Th St
General Information
- Standard status
- Active
- Size
- 12,000 SF
- Lot size
- 0.17 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1960
Listing office JEANIUS REALTY (908) 349-8770
Listing date Apr 8, 2025
Source Corcoran
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All listing content including descriptions, pricing, images are the copyrighted material of JEANIUS REALTY
HighLights
- 11‑unit apartment building offers a significant investment opportunity.
- Additional lot included provides flexibility for parking or potential future development.
- Lot can be used for parking or potential future development.
- Located in North Newark, a trending market.
- Building constructed in 1960.
- Possibility to build another unit on the lot.
Overview
Local Financial Insights For Apartment 5plus
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 | $352.8k | $29.40 |
| − Vacancy | −$18.3k | −$1.53 |
| EGI | $334.5k | $27.87 |
| − OpEx | −$150.5k | −$12.54 |
| NOI | $183.9k | $15.33 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.1815
- Latitude
- 40.769
