Mixed-Use Building with
For Sale
$950,000
674 Mount Prospect Ave #1, Newark, NJ 07104
COM-zoned property combines commercial storefront space with two residential apartments.
Property Size3,500 SF
Price / SF$271.43
Days on Market52
Property Features for 674 Mount Prospect Ave #1
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Commercial
Zoning
COM
Site & Location
Neighborhood
North Broadway
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Building Size
3,500 SF
Stories
3
Units
3
Tenancy
Multi
Listing Agency:
Re/Max Professionals I
Listed By:
Carmen Jimenez · License #9911046
(973) 450-4000
Source:
Cammarotarealestate
Added: Sep 3
Changed: Oct 22
Last Checked: Oct 22 at 2:22PM
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 Re/Max Professionals I
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property includes a retail storefront of approximately 1,800 square feet alongside two residential apartments. The combination of commercial and residential space is suited to a mixed-use configuration.
The property is in Newark’s North Ward business district, near NYC transportation, shopping centers, and restaurants. Zoning is COM.
The property is in Newark’s North Ward business district, near NYC transportation, shopping centers, and restaurants. Zoning is COM.
Key Highlights
- Approximately 1,800‑square‑foot retail storefront
- Two residential apartments
- COM zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,805
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,096,100
$1.1M
Cap Rate 7%
$782,929
$782.9K
Cap Rate 9%
$608,944
$608.9K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$105.0K $30.00/SF
− Vacancy
−$5.4K −$1.53/SF
EGI
$99.6K $28.47/SF
− OpEx
−$44.8K −$12.81/SF
NOI
$54.8K $15.66/SF
Area
ZIP 07104
Vacancy
5.10%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,096,100
Cap Rate 7%
$782,929
Cap Rate 9%
$608,944
Alternative Uses
Best Use
Apartment 5plus
$782.9K
$685.1K – $913.4K
NOI $54,805 @ 7.0% cap · market cap 5.77%
Second Best
Retail
$763.6K
$668.1K – $890.8K
NOI $53,449 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$1.11M
$968.7K – $1.29M
NOI $77,497 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,329
Businesses Nearby
77k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Groceries 23%
Shops & Services 12%
Electronics 2%
McDonald's
Dining
28,803 visits/mo
0.3 miles
Twin City Supermarket
Groceries
18,022 visits/mo
0.3 miles
White Castle
Dining
10,051 visits/mo
0.2 miles
Dunkin' Donuts
Dining
7,803 visits/mo
0.3 miles
Dollar General
Shops & Services
6,970 visits/mo
0.3 miles
Demographics for 07104, NJ
54,051
Population
21,762
Households
2.5
Avg Household Size
35
Median Age
21%
College-Educated
71%
High-School Grad
2.5 sq mi
ZIP Area
21,620
Density / Sq Mi
$51,199
Median Household Income
$36,139
Median Earnings
$1,343
Median Rent
$337,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - COM-zoned property combines commercial storefront space with two residential apartments.
Where is this mixed-use property located?
The property is located at 674 Mount Prospect Ave #1 Newark, NJ.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Approximately 1,800‑square‑foot retail storefront; Two residential apartments; COM zoning
