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    456 Market St Newark, NJ 07107

    For Sale
    Contact for pricing

    High-Cap Rate Multi-Tenant Retail Property

    Property size:
    3,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional investment opportunity presents a recently renovated gas station and convenience store located at 456 W Market St, Newark, NJ 07107. The property boasts a substantial 3,000 square feet of retail space situated on a 0.36-acre lot (Block 1854, Lot 6) in Essex County. The existing business is included in the sale, offering immediate cash flow and significant upside potential. The property's strong performance is reflected in its impressive 10% capitalization rate. The 2022 property taxes were $14,944. This multi-tenant retail property is ideally positioned for continued growth and profitability, making it an attractive investment for discerning buyers seeking a high-yield asset in a dynamic market. The property's recent renovations ensure modern amenities and efficient operations, minimizing future capital expenditures. This turnkey operation provides a seamless transition for new ownership, allowing for immediate revenue generation and long-term value appreciation. The strategic location in Newark, New Jersey, offers excellent visibility and accessibility, attracting a consistent flow of customers. This is a rare opportunity to acquire a well-established, high-performing retail property with substantial growth potential.

    Property Features for 456 Market St

    General Information

    Property type
    Retail properties
    Square Feet
    3,000 SF
    Lot Size
    15,682 SF

    HighLights

    • Recently renovated gas station and convenience store.
    • ±3,000 square foot building.
    • Business included in sale.
    • 10% cap rate.
    • Significant upside potential.
    • 0.36‑acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Power Service Center Auto Repair Shop Millenium Gas Station

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market 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
    -74.1936503
    Latitude
    40.7492933

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    FAQs

    What type of property is this?
    Retail property - High-Cap Rate Multi-Tenant Retail Property
    Where is this retail property located?
    The property is located at 456 Market St Newark, NJ.
    What are key features of this property?
    This property features: Recently renovated gas station and convenience store.; ±3,000 square foot building.; Business included in sale.
    (973) 379-6644
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    456 Market St Newark, NJ 07107
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    Newark, NJ 07107
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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
    456 Market St Newark, NJ 07107
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