Historic Three-Family
9 Madison Ave, Newark, NJ 07108
For Sale
$850,000
Pending
The building has 15 bedrooms, three floors, and a recently installed heating unit.
Property Size1,900 SF
Days on Market20
Property Features for 9 Madison Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
Finished-Partially
Gas-Natural
2
6
9
7
1
3
15
Carbon Monoxide Detector,Fire Alarm System,Smoke Detector
4
Fire Alarm System,Smoke Detector
5
Carbon Monoxide Detector,Fire Alarm Sys,Fire Extinguisher,High Ceilings,Security System,Smoke Detector,Wood Floors
1.0
2.0
Bedrooms,Dining Room,Kitchen,Living Room
Bedrooms,Dining Room,Living Room
Attic,Bedrooms,Living Room
No
Public Water
30X125
0.09
See Remarks
1900
Stucco
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
(908) 224-5438
Listed By:
Rosalie Vezzosi
Source:
Haven
Added: Oct 21
Changed: Nov 5
Last Checked: Nov 8 at 8:26AM
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 Rosalie Vezzosi
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Investment Insights
Based on property information with market context.
Built in 1900, this historic corner building is approved for a three-family dwelling and for use as a Class I shelter accommodating 27 or more people. The structure contains 15 bedrooms across three floors, with four full bathrooms and two half baths. A heating unit is described as fairly new, and the property includes parking for four cars.
The building alone is included in the sale. Shelter use has zoning approval, and the existing approval does not require new zoning for a new owner.
The building alone is included in the sale. Shelter use has zoning approval, and the existing approval does not require new zoning for a new owner.
Key Highlights
- Approved for a three‑family dwelling and Class I shelter use for 27 or more people
- 15 bedrooms across 3 floors
- 4 full bathrooms and 2 half baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,198
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$643,960
$644.0K
Cap Rate 7%
$459,971
$460.0K
Cap Rate 9%
$357,756
$357.8K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$48.3K $25.44/SF
− Vacancy
−$2.3K −$1.23/SF
EGI
$46.0K $24.21/SF
− OpEx
−$13.8K −$7.26/SF
NOI
$32.2K $16.95/SF
Area
Newark, NJ
Vacancy
4.84%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$643,960
Cap Rate 7%
$459,971
Cap Rate 9%
$357,756
Alternative Uses
Best Use
Multifamily LT 5
$460.0K
$402.5K – $536.6K
NOI $32,198 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$419.9K
$367.4K – $489.9K
NOI $29,394 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$673.2K
$589.1K – $785.4K
NOI $47,124 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,150
Businesses Nearby
Explore this area
Business Placement
Demographics for 07108, NJ
28,715
Population
12,862
Households
2.2
Avg Household Size
32
Median Age
17%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
20,511
Density / Sq Mi
$33,960
Median Household Income
$30,336
Median Earnings
$1,098
Median Rent
$326,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Newark, NJ
Properties on Market for Triplexes in Newark
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The building has 15 bedrooms, three floors, and a recently installed heating unit.
Where is this triplex located?
The property is located at 9 Madison Ave Newark, NJ.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Approved for a three‑family dwelling and Class I shelter use for 27 or more people; 15 bedrooms across 3 floors; 4 full bathrooms and 2 half baths
