Established Tailoring and Dry
For Sale
$850,000
70 Park Ave, Newark, NJ 07104
Well-established tailoring and dry cleaning business for sale.
Property Size2,300 SF
Price / SF$369.57
Days on Market333
Property Features for 70 Park Ave
General Information
Standard status
Active
Size
2,300 SF
Site & Location
Neighborhood
Seventh Avenue
Building Details
Year Built
1900
Listing Agency:
RE/MAX CENTRAL
Listed By:
RUT OLIVERA · License #395083
(732) 943-4908
Source:
Goldstandardrealty
Added: Nov 28, 2025
Changed: Oct 25
Last Checked: Oct 7 at 1:40PM
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 CENTRAL
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Investment Insights
Based on property information with market context.
This well-established tailoring and dry cleaning business has proudly served the community for over 25 years. The business has a strong foundation, a consistent and loyal customer base, and steady revenue. It is fully equipped for continued success. The business is located at 70 Park Ave, Newark, NJ 07104-1016.
Key Highlights
- Well‑established tailoring and dry cleaning business with 25+ years of operation.
- Prime location.
- Consistent and loyal customer base.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,124
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$702,480
$702.5K
Cap Rate 7%
$501,771
$501.8K
Cap Rate 9%
$390,267
$390.3K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$55.2K $24.00/SF
− Vacancy
−$5.0K −$2.18/SF
EGI
$50.2K $21.82/SF
− OpEx
−$15.1K −$6.54/SF
NOI
$35.1K $15.27/SF
Area
ZIP 07104
Vacancy
9.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$702,480
Cap Rate 7%
$501,771
Cap Rate 9%
$390,267
Alternative Uses
Best Use
Retail
$501.8K
$439.1K – $585.4K
NOI $35,124 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$727.5K
$636.6K – $848.8K
NOI $50,926 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,763
Businesses Nearby
118k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 35%
Hotels & Casinos 3%
Electronics 3%
Exxon
Shops & Services
17,016 visits/mo
0.4 miles
AutoZone
Shops & Services
13,201 visits/mo
0.5 miles
Burger King
Dining
11,362 visits/mo
0.4 miles
BP
Shops & Services
10,746 visits/mo
0.1 miles
Dunkin' Donuts
Dining
10,219 visits/mo
0.4 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?
Retail space - Well-established tailoring and dry cleaning business for sale.
Where is this retail space located?
The property is located at 70 Park Ave Newark, NJ.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Well‑established tailoring and dry cleaning business with 25+ years of operation.; Prime location.; Consistent and loyal customer base.
