Newark Mixed-Use Commercial
For Sale
$1,999,000
Pending
707 Frelinghuysen Ave, Newark, NJ 07114
Multi-use property in Newark's growing corridor with storefronts and warehouses.
Property Size7,450 SF
Lot Size0.10 Acres
Days on Market225
Property Features for 707 Frelinghuysen Ave
General Information
Standard status
Pending
Size
7,450 SF
Lot size
0.10 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,678
Amenities
Flat Roof
On-Street Parking
Building Details
Year Built
9999
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
CARLIE CARREIRA
(973) 583-0149
Source:
Corcoran
Added: Jan 20
Changed: Aug 8
Last Checked: Jul 23 at 9:43AM
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.
This commercial property is located in Newark, adjacent to the Lions Gate development. The property features three street-level commercial storefronts along Frelinghuysen Avenue, which benefits from high traffic and foot traffic. Additionally, the building includes two warehouse spaces with access from Foster Street, suitable for storage, distribution, or light industrial use. The property is situated in a rapidly developing area. The property size is 7450 square feet.
Key Highlights
- Prime location adjacent to the new Lions Gate development in a rapidly developing Newark corridor.
- Three street‑level commercial storefronts on high‑traffic Frelinghuysen Avenue, offering excellent visibility and foot traffic.
- Two warehouse spaces with access from Foster Street, suitable for storage, distribution, or light industrial use.
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
$142,213
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
7.11%
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%
$2,844,260
$2.8M
Cap Rate 7%
$2,031,614
$2.0M
Cap Rate 9%
$1,580,144
$1.6M
Market Conditions
NOI Build-Up for 7,450 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
$223.5K $30.00/SF
− Vacancy
−$20.3K −$2.73/SF
EGI
$203.2K $27.27/SF
− OpEx
−$60.9K −$8.18/SF
NOI
$142.2K $19.09/SF
Area
Newark, NJ
Vacancy
9.10%
Lease Rate
$30.00 /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%
$2,844,260
Cap Rate 7%
$2,031,614
Cap Rate 9%
$1,580,144
Alternative Uses
Best Use
Retail
$2.03M
$1.78M – $2.37M
NOI $142,213 @ 7.0% cap · market cap 7.11%
Second Best
Mixed Use
$1.70M
$1.48M – $1.98M
NOI $118,734 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$2.64M
$2.31M – $3.08M
NOI $184,775 @ 7.0% cap · market cap 9.24%
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 - Multi-use property in Newark's growing corridor with storefronts and warehouses.
Where is this mixed-use property located?
The property is located at 707 Frelinghuysen Ave Newark, NJ.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Prime location adjacent to the new Lions Gate development in a rapidly developing Newark corridor.; Three street‑level commercial storefronts on high‑traffic Frelinghuysen Avenue, offering excellent visibility and foot traffic.; Two warehouse spaces with access from Foster Street, suitable for storage, distribution, or light industrial use.
