New Construction
New
For Sale
$995,000
92 Speedway Avenue, Newark, NJ 07106
2-4 Family, Newark, NJ
Property Size3,696 SF
Lot Size0.06 Acres
Price / SF$269.21
Days on Market2
Property Features for 92 Speedway Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
8
Bathrooms
6
Full bathrooms
5
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 8, Bedroom 6, Bathroom 2, Bathroom 3, Bedroom 2, Bathroom 1, Basement, Bathroom 5, Bedroom 7, Bedroom 3, Bathroom 6, Bedroom 4, Bathroom 4, Bedroom 5
Subdivision
Newark
Standard status
Active
Lot size
0.06 Acres
Utilities
Cooling system
Central Air
Listing Agency:
Keller Williams City Views Realty · Keller Williams Realty
(201) 592-8900
Listed By:
Farhan Yousufi · License #281797
(201) 538-0389
Added: Sep 8
Last Checked: Sep 9 at 3:06AM
MLS# 26033930
Copyright © 2026 New Jersey MLS Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 92 Speedway Avenue in Newark, this under-construction triplex contains 3,696 square feet across three residential units. The ground-level residence includes 2 bedrooms and 1 full bathroom, while the second- and third-floor residences each offer 3 bedrooms and 2 full bathrooms. All units are planned with functional living areas and contemporary finishes.
The property occupies a 25' x 100' lot and includes a full finished basement with a separate entrance. A two-car built-in garage provides off-street parking, and central air is specified. The property also carries a 5-year tax abatement and is located in Newark, NJ 07106.
The property occupies a 25' x 100' lot and includes a full finished basement with a separate entrance. A two-car built-in garage provides off-street parking, and central air is specified. The property also carries a 5-year tax abatement and is located in Newark, NJ 07106.
Key Highlights
- 3,696 square feet of new‑construction residential space
- Three units with a combined 8 bedrooms
- Unit mix includes one 2‑bedroom residence and two 3‑bedroom residences
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,862
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,277,240
$1.3M
Cap Rate 7%
$912,314
$912.3K
Cap Rate 9%
$709,578
$709.6K
Market Conditions
NOI Build-Up for 3,696 SF
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.
Gross rent
$97.6K $26.40/SF
− Vacancy
−$6.3K −$1.72/SF
EGI
$91.2K $24.68/SF
− OpEx
−$27.4K −$7.41/SF
NOI
$63.9K $17.28/SF
Area
ZIP 07106
Vacancy
6.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,277,240
Cap Rate 7%
$912,314
Cap Rate 9%
$709,578
Alternative Uses
Best Use
Multifamily LT 5
$912.3K
$798.3K – $1.06M
NOI $63,862 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$797.6K
$697.9K – $930.5K
NOI $55,830 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,211 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,048
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Under-construction three-unit residential property with central air, a finished basement, and built-in garage parking.
Where is this triplex located?
The property is located at 92 Speedway Avenue Newark, NJ.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 3,696 square feet of new‑construction residential space; Three units with a combined 8 bedrooms; Unit mix includes one 2‑bedroom residence and two 3‑bedroom residences
