456 Market St Newark, NJ 07107
- Commercial real estate
- 0.36 lot acres
Current Use by Public Records
- Power Service Center / Auto Repair Shop / Gas Station
- Millenium / Gas Station
Property Details for 456 Market St
- Construction
- BRICK
- Lot size
- 0.36 lot acres
- Property type
- Commercial real estate
- APN
- 14 01854-0000-00006
- APU
- 1401854000000006
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $425,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $340,000
- 6.5%
- $340,000
- 7%
- $335,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $370,000
- Geo Method
- $370,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $320,000
- Retail
- $340,000
- Mixed-Use
- $350,000
- Hospitality
- $285,000
- Educational
- $300,000
- Residential Income
- $315,000
- Energy
- $315,000
- Income-Based Land
- $310,000
- Food Service
- $380,000
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.1937
- Latitude
- 40.7493
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
