Ironbound Multi-Level Commercial
For Sale
Contact for pricing
Pending
67 Brill St, Newark, NJ 07105
3,000 sq ft multi-level building in Newark's Ironbound district.
Property Size3,000 SF
Days on Market189
Property Features for 67 Brill St
General Information
Standard status
Pending
Size
3,000 SF
Property subtype
Mixed Use, Special Purpose
Zoning
RDV
Building Details
Buildings
1
Stories
1
Listing Agency:
Weichert Realtors Home City
Listed By:
Augusto Verissimo · License #9591085
(201) 293-6333
Source:
Crexi
Added: Feb 26
Changed: Aug 31
Last Checked: Aug 31 at 10:15AM
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 Home City
Investment Insights
Based on property information with market context.
Located in the Ironbound section of Newark, this multi-floor commercial building offers approximately 3,000 sq ft of space. The property is situated just off Ferry Street, providing visibility and accessibility. It features central HVAC and a flexible multi-level layout. Approximately 12 on-site parking spaces are available. Zoned RDV, the property allows for a variety of potential uses. The property is surrounded by local businesses, restaurants, and public transportation, benefiting from foot traffic.
Key Highlights
- Prime Ironbound location, steps from Ferry Street
- Approximately 3,000 sq ft multi‑floor building
- Benefit from approximately 12 on‑site parking spaces
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
$40,905
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
6.06%
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%
$818,100
$818.1K
Cap Rate 7%
$584,357
$584.4K
Cap Rate 9%
$454,500
$454.5K
Market Conditions
NOI Build-Up for 3,000 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
$72.0K $24.00/SF
− Vacancy
−$6.6K −$2.18/SF
EGI
$65.4K $21.82/SF
− OpEx
−$24.5K −$8.18/SF
NOI
$40.9K $13.64/SF
Area
ZIP 07105
Vacancy
9.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$818,100
Cap Rate 7%
$584,357
Cap Rate 9%
$454,500
Alternative Uses
Best Use
Mixed Use
$584.4K
$511.3K – $681.8K
NOI $40,905 @ 7.0% cap · market cap 6.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$938.9K – $1.25M
NOI $75,110 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,420
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - 3,000 sq ft multi-level building in Newark's Ironbound district.
Where is this mixed-use property located?
The property is located at 67 Brill St Newark, NJ.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Prime Ironbound location, steps from Ferry Street; Approximately 3,000 sq ft multi‑floor building; Benefit from approximately 12 on‑site parking spaces
