Mixed-Use Property with
For Sale
$2,400,000
72 Elm Rd, Newark, NJ 07105
Ground-floor restaurant and bar space is paired with three residential apartments.
Property Size10,000 SF
Price / SF$240
Days on Market57
Property Features for 72 Elm Rd
General Information
Standard status
Active
Size
10,000 SF
Zoning
MX-1
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$29,172
Amenities
Window Unit(s)
Natural Gas
Finished
Off Street
Building Details
Building Size
10,000 SF
Year Renovated
2023
Buildings
1
Listing Agency:
New and Modern Group
Listed By:
SANDRA OLIVEIRA · License #1751574
(908) 425-1875
Source:
Evrealestate
Added: Aug 20
Changed: Oct 15
Last Checked: Oct 14 at 8:11PM
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 New and Modern Group
Investment Insights
Based on property information with market context.
This mixed-use building contains approximately 10,000 square feet, with approximately 4,500 square feet of ground-floor commercial space configured for restaurant and bar use, alongside three apartments. Renovation work and system updates were completed in 2023. The apartments are occupied under month-to-month tenancies.
The property is in Newark’s North Ironbound, near Ferry Street, Newark Penn Station, and Downtown Newark. Walk Score is 97, Transit Score is 75, and Bike Score is 64.
The property is in Newark’s North Ironbound, near Ferry Street, Newark Penn Station, and Downtown Newark. Walk Score is 97, Transit Score is 75, and Bike Score is 64.
Key Highlights
- Approximately 10,000 square feet in total
- Approximately 4,500 square feet of ground‑floor commercial space
- Three residential apartments with month‑to‑month tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$182,160
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,643,200
$3.6M
Cap Rate 7%
$2,602,286
$2.6M
Cap Rate 9%
$2,024,000
$2.0M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$264.0K $26.40/SF
− Vacancy
−$21.1K −$2.11/SF
EGI
$242.9K $24.29/SF
− OpEx
−$60.7K −$6.07/SF
NOI
$182.2K $18.22/SF
Area
ZIP 07105
Vacancy
8.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,643,200
Cap Rate 7%
$2,602,286
Cap Rate 9%
$2,024,000
Alternative Uses
Best Use
Specialty Retail
$2.60M
$2.28M – $3.04M
NOI $182,160 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$2.19M
$1.92M – $2.56M
NOI $153,453 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$3.58M
$3.13M – $4.17M
NOI $250,368 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,949
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor restaurant and bar space is paired with three residential apartments.
Where is this mixed-use property located?
The property is located at 72 Elm Rd Newark, NJ.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Approximately 10,000 square feet in total; Approximately 4,500 square feet of ground‑floor commercial space; Three residential apartments with month‑to‑month tenants
