Three-Story Triplex with Finished
New
For Sale
$895,000
623-625 Sandford Ave, Newark, NJ 07106
The buyer must obtain the Certificate of Occupancy and fire certification after closing.
Property Size3,199 SF
Days on Market2
Property Features for 623-625 Sandford Ave
General Information
Standard status
Active
Size
3,199 SF
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,590
Building Details
Building Size
3,199 SF
Year Built
1925
Stories
3
Listing Agency:
GILD REALTY
Listed By:
ARMANDO PINA · License #397534
(973) 820-6330
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 2:18PM
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 GILD REALTY
Investment Insights
Based on property information with market context.
This Newark triplex contains three individual units distributed across three stories, along with a finished basement. The building dates to 1925.
The property is being sold in its current condition. The buyer is responsible for securing the Certificate of Occupancy and fire certification; the seller will not complete repairs or issue credits.
The property is being sold in its current condition. The buyer is responsible for securing the Certificate of Occupancy and fire certification; the seller will not complete repairs or issue credits.
Key Highlights
- Three separate residential units
- Three stories plus a finished basement
- Built in 1925
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,275
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,105,500
$1.1M
Cap Rate 7%
$789,643
$789.6K
Cap Rate 9%
$614,167
$614.2K
Market Conditions
NOI Build-Up for 3,199 SF
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.
Gross rent
$84.5K $26.40/SF
− Vacancy
−$5.5K −$1.72/SF
EGI
$79.0K $24.68/SF
− OpEx
−$23.7K −$7.41/SF
NOI
$55.3K $17.28/SF
Area
ZIP 07106
Vacancy
6.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,105,500
Cap Rate 7%
$789,643
Cap Rate 9%
$614,167
Alternative Uses
Best Use
Multifamily LT 5
$789.6K
$690.9K – $921.3K
NOI $55,275 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$690.3K
$604.0K – $805.4K
NOI $48,323 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,601 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,127
Businesses Nearby
Explore this area
Business Placement
Demographics for 07106, NJ
34,596
Population
13,633
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
24,711
Density / Sq Mi
$48,105
Median Household Income
$34,820
Median Earnings
$1,221
Median Rent
$321,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - The buyer must obtain the Certificate of Occupancy and fire certification after closing.
Where is this triplex located?
The property is located at 623-625 Sandford Ave Newark, NJ.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Three separate residential units; Three stories plus a finished basement; Built in 1925
