763 IRVINGTON AVE, Newark, NJ 07106
Fully leased retail corner property with dedicated parking and frontage on Irvington Avenue.
- Added:
- Jun 4, 2026
- Days on Market:
- 18
- Last Refresh:
- Jun 20 at 6:49 am
Property Features for 763 IRVINGTON AVE
General Information
- Standard status
- Active
- Size
- 5,100 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1940
Listing agent Abdullah Bustami License #2185423
Listing office Skye Management
Listing date Jun 4, 2026
Source Crexi
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
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
- Lease expirations extend through 2032 (Evergreen Laundromat) and 2029 (Razor Sharp Lounge)
- Year built: 1940
- In‑place cap rate of approximately 7.2% at a $1,000,000 offering price
Overview
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.
Local 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 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- B and A unique flower shop — 514 Stuyvesant Ave., Irvington, NJ 07111
- Garden of Edith Floral Design — 54 S Orange Ave, South Orange, NJ 07079
- Wildly Floral Co. — 9 Scotland Rd, South Orange, NJ 07079
- US 1 Wholesale Florist — 29 tuxedo pkwy, newark, nj 07106
- Maplewood Florist at The Emporium — 290 elmwood ave, maplewood, nj 07040
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.2441642
- Latitude
- 40.7330996
