Five-Unit Mixed-Use
948 S Orange Ave, Newark, NJ 07106
For Sale
$799,000
Commercial-zoned building combines ground-floor retail space with two-bedroom apartments above.
Property Size4,700 SF
Price / SF$170
Days on Market8
Property Features for 948 S Orange Ave
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Mixed-Use Components
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
Full,Unfinished
Gas-Natural
5
3
4700
191.00
Public Water
.07
0.03
80
9
Vinyl Siding
Building Details
Building Size
Year Built
Buildings
Stories
Tenancy
Listing Agency:
(908) 224-5438
Listed By:
Jessica Deats
Source:
Haven
Added: Oct 31
Changed: Nov 6
Last Checked: Nov 7 at 8:00AM
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 Jessica Deats
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Investment Insights
Based on property information with market context.
At 948 S Orange Ave in Newark, this 4,700-square-foot mixed-use building dates to 1930. Its five units comprise three ground-floor retail spaces and two upper-level apartments, each with two bedrooms and one bathroom. The property is zoned Commercial.
Commercial tenants are responsible for their own utilities, while the residential units are located on the upper floor.
Commercial tenants are responsible for their own utilities, while the residential units are located on the upper floor.
Key Highlights
- Five units: three ground‑floor retail spaces and two upper‑level apartments
- Each apartment has two bedrooms and one bathroom
- 4,700 square feet; built in 1930
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,996
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,419,920
$1.4M
Cap Rate 7%
$1,014,229
$1.0M
Cap Rate 9%
$788,844
$788.8K
Market Conditions
NOI Build-Up for 4,700 SF
Gross rent
$137.6K $29.28/SF
− Vacancy
−$8.5K −$1.82/SF
EGI
$129.1K $27.46/SF
− OpEx
−$58.1K −$12.36/SF
NOI
$71.0K $15.11/SF
Area
ZIP 07106
Vacancy
6.20%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,419,920
Cap Rate 7%
$1,014,229
Cap Rate 9%
$788,844
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$887.5K – $1.18M
NOI $70,996 @ 7.0% cap · market cap 8.89%
Second Best
Mixed Use
$916.5K
$801.9K – $1.07M
NOI $64,155 @ 7.0% cap · market cap 8.03%
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $128,705 @ 7.0% cap · market cap 16.11%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,483
Businesses Nearby
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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
$321,400
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Newark, NJ
Properties on Market for Mixed-use properties in Newark
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial-zoned building combines ground-floor retail space with two-bedroom apartments above.
Where is this mixed-use property located?
The property is located at 948 S Orange Ave Newark, NJ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Five units: three ground‑floor retail spaces and two upper‑level apartments; Each apartment has two bedrooms and one bathroom; 4,700 square feet; built in 1930
