Current Use by Public Records
- Corvino Caroline O / Employment Agency
- Ruby Capital Group / Bank / Credit Union
- KS Group / Construction Company
Property Details for 260 Broadway
- Property type
- Office Spaces
Description
This exceptional investment opportunity presents a 9,010 square foot, two-story office building situated on a 8,625 square foot lot in Newark, New Jersey. Currently 100% occupied with a lease expiring April 30, 2026, offering a remaining lease term of approximately 1.4 years. The property boasts a compelling 8.30% cap rate and a price per square foot of $188.68. The asking price is $1,700,000. The building features two units within one building and is zoned C-2, presenting significant redevelopment potential. Located on a major retail corridor with convenient access to Route 21 and ample on-site parking (12 spaces), this property is ideally positioned in a thriving Newark neighborhood near public transportation, schools, parks, and new developments. The 0.2-acre lot allows for a potential covered land play and redevelopment into a mixed-use building, capitalizing on Newark's growth. This sale-leaseback opportunity offers a strong return on investment with significant upside potential. The property's prime location and flexible zoning make it an attractive investment for both short-term and long-term growth.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.1695
- Latitude
- 40.7596
