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    195 Miller St Newark, NJ 07114

    For Sale
    $895,000

    Profitable auto repair shop, excellent location.

    Property size:
    2,012 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional investment opportunity presents a thriving 2,012 square foot auto repair shop located at 195 Miller Street in Newark, New Jersey, within Essex County (zip code 07114). The property sits on a 0.05-acre lot (Block 1178, Lot 14) and is offered at an asking price of $895,000, translating to $444.83 per square foot. The building features a convenient drive-in door, a ceiling height of 12 feet 8 inches, and three auto lifts, ensuring efficient operation. The shop is equipped with a brand new air compressor and utilizes gas suspended heat. The high-density traffic area guarantees significant customer flow. 2022 property taxes amounted to $7,285.20. This turnkey operation is ideal for an established business or a savvy investor seeking a profitable venture in a high-demand market. The property's size and features make it a compelling opportunity for continued success and growth within the automotive repair industry. This is a rare chance to acquire a well-equipped and strategically located auto shop in a bustling Newark neighborhood.

    Property Features for 195 Miller St

    General Information

    Property type
    Automotive properties
    Square Feet
    2,012 SF
    Lot Size
    2,178 SF

    HighLights

    • 2,012 SF Building
    • 0.05‑Acre Lot (Block 1178, Lot 14)
    • One Drive‑In Door
    • 12'8" Clear Ceiling Height
    • Three Auto Lifts
    • New Air Compressor
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Optimum Auto Repair Auto Repair Shop Reliable Auto Repair Auto Repair Shop Prefrance Auto Care Auto Repair Shop

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Building Supply Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1783777
    Latitude
    40.7178709

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    FAQs

    What type of property is this?
    Automotive property - Profitable auto repair shop, excellent location.
    Where is this automotive property located?
    The property is located at 195 Miller St Newark, NJ.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: 2,012 SF Building; 0.05-Acre Lot (Block 1178, Lot 14); One Drive-In Door
    Request Owner's contact information
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    Newark, NJ 07114
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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
    195 Miller St Newark, NJ 07114
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