Newark Mixed-Use Investment
For Sale
$1,450,000
Pending
699 Frelinghuysen Ave, Newark, NJ 07114
Mixed-use building with commercial and residential spaces in prime Newark.
Property Size11,650 SF
Lot Size0.10 Acres
Days on Market236
Property Features for 699 Frelinghuysen Ave
General Information
Standard status
Pending
Size
11,650 SF
Lot size
0.10 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,222
Amenities
2 Car Width
Driveway-Exclusive
Flat Roof
Off-Street Parking
Building Details
Year Built
9999
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
CARLIE CARREIRA
Source:
Corcoran
Added: Jan 7
Changed: Aug 8
Last Checked: Jul 23 at 8:39AM
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 EXP REALTY, LLC
Investment Insights
Based on property information with market context.
Located next to the new Lionsgate Studio development, this mixed-use commercial building in Newark presents an opportunity to own a property featuring a blend of commercial and residential spaces. The well-maintained building includes a cigar lounge on the ground floor, along with a spacious warehouse suitable for storage, logistics, or business operations. The property also features six residential units, providing rental income and long-term investment potential. Situated in a prime area of Newark, the property benefits from high foot traffic, visibility, and proximity to public transportation, major highways, and shopping centers. The property offers versatility, income, and location. The building's property size is 11650 square feet.
Key Highlights
- Prime Newark location next to the new Lionsgate Studio Development.
- Six income‑producing residential units provide steady rental income.
- Includes an established cigar lounge, offering a unique amenity.
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
$119,839
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
8.26%
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%
$2,396,780
$2.4M
Cap Rate 7%
$1,711,986
$1.7M
Cap Rate 9%
$1,331,544
$1.3M
Market Conditions
NOI Build-Up for 11,650 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
$181.7K $15.60/SF
− Vacancy
−$10.5K −$0.90/SF
EGI
$171.2K $14.70/SF
− OpEx
−$51.4K −$4.41/SF
NOI
$119.8K $10.29/SF
Area
Newark, NJ
Vacancy
5.80%
Lease Rate
$15.60 /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%
$2,396,780
Cap Rate 7%
$1,711,986
Cap Rate 9%
$1,331,544
Alternative Uses
Best Use
Retail
$3.18M
$2.78M – $3.71M
NOI $222,387 @ 7.0% cap · market cap 15.34%
Second Best
Mixed Use
$2.65M
$2.32M – $3.09M
NOI $185,672 @ 7.0% cap · market cap 12.80%
Theoretical Best
Office A
$4.13M
$3.61M – $4.82M
NOI $288,944 @ 7.0% cap · market cap 19.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 07114, NJ
17,767
Population
4,694
Households
3.8
Avg Household Size
39
Median Age
9%
College-Educated
69%
High-School Grad
7.9 sq mi
ZIP Area
2,249
Density / Sq Mi
$34,167
Median Household Income
$35,916
Median Earnings
$616
Median Rent
$384,700
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with commercial and residential spaces in prime Newark.
Where is this mixed-use property located?
The property is located at 699 Frelinghuysen Ave Newark, NJ.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Prime Newark location next to the new Lionsgate Studio Development.; Six income‑producing residential units provide steady rental income.; Includes an established cigar lounge, offering a unique amenity.
