Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    188 Fry St Newark, NJ 07105-2728

    • Commercial real estate
    • 110.80 lot acres
    OFF-MARKET
    Last Sale
    Apr 21, 2020
    $1,500,000
    Value Estimations
    $2,170,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1734967
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Electromania Wireless / Electronics & Wireless Store
    • Yes Audio-Video Electronic Services / Electronics & Wireless Store

    Property Details for 188 Fry St

    Lot size
    110.80 lot acres
    Property type
    Commercial real estate
    APN
    14 01992-0000-00003
    APU
    1401992000000003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,775,000
      ML approach
      $2,915,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1566
    Latitude
    40.7287
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $29,937
    $225,000
    $576,300
    $801,300
    -
    $225,000
    $576,300
    $801,300

    Comparable in this City

    • Value Estimation by Request
      0.23 Acres

      113-119 Njrr Ave

      COMMERCIAL (GENERAL) • 0.23 Acres
      113-119 Njrr Ave, Newark, NJ 07105
      View Details
    • Value Estimation
      $600,000
      6.55 Acres

      461 Ave P P, Unit 549

      COMMERCIAL (GENERAL) • 6.55 Acres
      461 Ave P P, Newark, NJ 07105-4800
      View Details
    • Value Estimation by Request
      0.06 Acres

      46 Jabez St

      COMMERCIAL (GENERAL) • 0.06 Acres
      46 Jabez St, Newark, NJ 07105
      View Details
    • Value Estimation
      $760,000
      1.54 Acres

      252 Lafayette St, Unit 272

      COMMERCIAL (GENERAL) • 1.54 Acres
      252 Lafayette St, Newark, NJ 07105-2124
      View Details
    • Value Estimation by Request

      183 Raymond Blvd, Unit 201

      COMMERCIAL (GENERAL)
      183 Raymond Blvd, Newark, NJ 07105-4725
      View Details
    • Value Estimation by Request
      0.06 Acres

      36 Esther St

      COMMERCIAL (GENERAL) • 0.06 Acres
      36 Esther St, Newark, NJ 07105
      View Details

    Similar Nearby for Sale

    • $4,100,000
      999 SF

      Triple Play Newark Investment

      Three prime Newark properties, Opportunity Zone.
      251 Walnut St, Newark, NJ 07105
      View Details
    • $160,000
      1,700 SF

      Newark Italian Restaurant - $160K

      Established Italian eatery, high ROI, seller financing.
      310-312 Adams St, Newark, NJ 07105
      View Details
    • $2,100,000

      Prime Newark Commercial Property

      Exceptional Investment Opportunity in Newark, NJ
      374-376 Chestnut St, Newark, NJ 07105
      View Details
    • $1,200,000
      0.15 Acres

      Newark City Double Lot Opportunity

      Double lot in Newark's Ironbound, potential for five-unit dwelling.
      125-129 Malvern St, Newark, NJ 07105
      View Details
    • $905,000

      Newark Multifamily Investment Opportunity

      Multifamily property for sale in Newark, New Jersey.
      91 Barbara St, Newark, NJ 07105
      View Details
    • $328,000

      Spacious Ironbound Condominium with Garage

      Two-bedroom condominium with private garage in Newark's Ironbound neighborhood.
      40-44 Rome St, Newark, NJ 07105
      View Details

    Similar Nearby for Lease

    • $2,450 /Mo

      Renovated Apartment for Rent

      Recently renovated 2nd-floor apartment available for rent.
      82 Pacific St, Newark, NJ 07105
      View Details
    • $1,900 /Mo
      14,810 SF

      Newark City Commercial Space Available

      Commercial property in Newark's Ironbound, suitable for various business uses.
      43 Merchant St, Newark, NJ 07105
      View Details
    • Contact for pricing
      70,000 SF

      Industrial Warehouse Space in Newark

      70,000 square foot warehouse space available for rent.
      391 Ferry St, Newark, NJ 07105
      View Details
    • $2,900 /Mo

      Renovated Apartment in Ironbound Newark

      Renovated 3-bedroom apartment in Newark's vibrant Ironbound neighborhood.
      23 Komorn St, Newark, NJ 07105
      View Details
    • Contact for pricing
      3,926 SF

      Modern Retail Space in Newark

      Available retail space suitable for various businesses in Newark, NJ.
      59-65 Mcwhorter St, Newark, NJ 07105
      View Details
    • $5,000 /Mo
      3,300 SF

      Newark Warehouse and Office Space

      3300 sq ft warehouse and office space for lease.
      45 Malvern St, Newark, NJ 07105
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    188 Fry St
    Newark, NJ 07105-2728
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.