Mixed-Use Building with
For Sale
$899,000
948 S Orange Ave #1, Newark, NJ 07106
Three storefronts occupy the ground floor, with two two-bedroom apartments above.
Property Size4,700 SF
Price / SF$191.28
Days on Market19
Property Features for 948 S Orange Ave #1
General Information
Standard status
Active
Size
4,700 SF
Property subtype
Commercial
Zoning
Commercial
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Building Size
4,700 SF
Year Built
1930
Buildings
1
Stories
3
Units
5
Tenancy
Multi
Listing Agency:
Menza Realty
(973) 926-2400
Listed By:
Nicholas T. Drejaj
(732) 585-7237
Source:
Cammarotarealestate
Added: Oct 5
Changed: Oct 22
Last Checked: Oct 22 at 2:12PM
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 Menza Realty
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Investment Insights
Based on property information with market context.
This 4,700-square-foot mixed-use building, constructed in 1930, combines three ground-floor retail spaces with two upper-level apartments. Each apartment has two bedrooms and one bathroom. The property is zoned Commercial.
Commercial tenants pay their own utility costs, while the residential units provide a separate component within the building’s five-unit configuration.
Commercial tenants pay their own utility costs, while the residential units provide a separate component within the building’s five-unit configuration.
Key Highlights
- 4,700‑square‑foot mixed‑use property
- Three ground‑floor retail spaces
- Two upper‑level apartments, each with two bedrooms and one bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,996
Cap Rate
7.90%
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 7.90%
Second Best
Mixed Use
$916.5K
$801.9K – $1.07M
NOI $64,155 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $128,705 @ 7.0% cap · market cap 14.32%
Zoning and permitted uses should be independently verified with authorities.
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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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three storefronts occupy the ground floor, with two two-bedroom apartments above.
Where is this mixed-use property located?
The property is located at 948 S Orange Ave #1 Newark, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 4,700‑square‑foot mixed‑use property; Three ground‑floor retail spaces; Two upper‑level apartments, each with two bedrooms and one bathroom
