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    760 S 16Th St Newark, NJ 07105

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    For Sale
    $435,000

    Two lots for sale, redevelopment potential for apartments.

    Property size:
    2,900 SF

    Property Features for 760 S 16Th St

    General Information

    Standard status
    Active
    Size
    2,900 SF

    Building Details

    Year built
    1950

    Source: SKY REALTY ASSOCIATES Agent EDUARDO VIEGAS

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Redevelopment Opportunity in Newark City

    Two lots are available for sale together, each measuring 25x100. The property is currently used as a motorcycle club, generating a monthly income of $3,500. The zoning allows for redevelopment, with the potential to construct 12-16 apartments or two buildings with 3-4 units each across the two lots. The property size is 2900 square feet and is located in Newark City, NJ.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mbeezie & Son Transportation ... Trucking Company

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2107063
    Latitude
    40.7290261

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    FAQs

    What type of property is this?
    Commercial land - Two lots for sale, redevelopment potential for apartments.
    Where is this commercial land located?
    The property is located at 760 S 16Th St Newark, NJ.
    What is the asking price?
    The asking price for this property is $435,000.
    What are key features of this property?
    This property features: - Redevelopment zoning allows for building 12-16 apartments.; - Two lots included in the sale (25x100 each).; - Potential to build two buildings with 3-4 units each.
    Request Owner's contact information
    760 S 16Th St Newark, NJ 07105
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    Newark, NJ 07105
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    760 S 16Th St Newark, NJ 07105
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