Multi-Tenant Retail Corner
For Sale
Contact for pricing
763 IRVINGTON AVE, Newark, NJ 07106
Fully leased retail corner property with dedicated parking and frontage on Irvington Avenue.
Property Size5,100 SF
Price / SF$196.08
Days on Market63
Property Features for 763 IRVINGTON AVE
General Information
Standard status
Active
Size
5,100 SF
Property subtype
Retail
Occupancy
100%
Additional Details
Cap Rate
7.2%
Building Details
Year Built
1940
Tenancy
Multi
Listing Agency:
Skye Management
Listed By:
Abdullah Bustami · License #2185423
Source:
Crexi
Added: Jun 4
Changed: Jul 10
Last Checked: Aug 4 at 8:31AM
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 Skye Management
Investment Insights
Based on property information with market context.
763 Irvington Avenue is a fully leased, multi-tenant retail building totaling approximately 5,228 square feet on a prominent corner lot. The property includes dedicated parking and an estimated 60 feet of frontage along Irvington Avenue, supporting consistent street-level presence for day-to-day neighborhood traffic. The asset is 100% occupied by two established businesses: Evergreen Laundromat and Razor Sharp Lounge.
Lease terms extend through 2032 for Evergreen Laundromat and through 2029 for Razor Sharp Lounge, creating long-dated occupancy. The offering is described as located in the Maplewood, New Jersey market with strong visibility and high traffic counts, positioned within a dense residential trade area.
For buyers seeking a stabilized retail investment, this property offers current income from two in-place tenants and continued occupancy visibility through the respective lease expirations. The seller’s remarks also cite an in-place cap rate of approximately 7.2% at the offering price, with additional upside discussed through future rent growth. For tenants and brokers reviewing the site for retail operations, the combination of dedicated parking, corner-lot access, and neighborhood-serving tenancy supports a practical fit for consistent consumer footfall and repeat local demand.
Lease terms extend through 2032 for Evergreen Laundromat and through 2029 for Razor Sharp Lounge, creating long-dated occupancy. The offering is described as located in the Maplewood, New Jersey market with strong visibility and high traffic counts, positioned within a dense residential trade area.
For buyers seeking a stabilized retail investment, this property offers current income from two in-place tenants and continued occupancy visibility through the respective lease expirations. The seller’s remarks also cite an in-place cap rate of approximately 7.2% at the offering price, with additional upside discussed through future rent growth. For tenants and brokers reviewing the site for retail operations, the combination of dedicated parking, corner-lot access, and neighborhood-serving tenancy supports a practical fit for consistent consumer footfall and repeat local demand.
Key Highlights
- Fully leased multi‑tenant retail property on a prominent corner lot in Maplewood, NJ
- Two established tenants: Evergreen Laundromat and Razor Sharp Lounge; 100% occupied
- Approx. 5,228 SF with dedicated parking and approx. 60 ft of frontage along Irvington Avenue
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $116.3k | $22.80 |
| − Vacancy | −$8.1k | −$1.60 |
| EGI | $108.1k | $21.20 |
| − OpEx | −$27.0k | −$5.30 |
| NOI | $81.1k | $15.90 |
5,100 SF · lease $22.80/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $81,105 @ 7.0% cap · market cap 8.11%
Second Best
Retail
$985.9K
$862.7K – $1.15M
NOI $69,015 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,658 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
865
Businesses Nearby
28k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 45%
7-Eleven
Shops & Services
13,346 visits/mo
0.4 miles
Dunkin' Donuts
Dining
10,262 visits/mo
0.1 miles
SUBWAY
Dining
2,480 visits/mo
0.0 miles
M&T Bank
Shops & Services
2,145 visits/mo
0.5 miles
Demographics for 07106, NJ
34,596
Population
13,633
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
24,711
Density / Sq Mi
$48,105
Median Household Income
$34,820
Median Earnings
$1,221
Median Rent
$321,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
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- Maplewood Florist at The Emporium — 290 elmwood ave, maplewood, nj 07040
Frequently Asked Questions
What type of property is this?
Storefront property - Fully leased retail corner property with dedicated parking and frontage on Irvington Avenue.
Where is this storefront property located?
The property is located at 763 IRVINGTON AVE Newark, NJ.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Fully leased multi‑tenant retail property on a prominent corner lot in Maplewood, NJ; Two established tenants: Evergreen Laundromat and Razor Sharp Lounge; 100% occupied; Approx. 5,228 SF with dedicated parking and approx. 60 ft of frontage along Irvington Avenue
