529-531 Mulberry St Newark, NJ 07114
- Commercial real estate
- 28,629 SF
Current Use by Public Records
- Commercial real estate
Property Details for 529-531 Mulberry St
- Year built
- 2024
- Property size
- 28,629 SF
- Property type
- Commercial real estate
Description
Exceptional investment opportunity: Two brand-new, five-story apartment buildings totaling 35 units in Newark, NJ's vibrant Ironbound section. This package deal comprises 529-531 Mulberry Street and 166-170 Emmet Street, offering a combined 28,629 square feet of net rentable space. The asking price is $11,500,000, representing $401.69 per square foot and $328,571.43 per unit. Building amenities include elevators, in-unit laundry facilities on each floor, and secure enclosed parking (22 spaces total). High-end finishes are featured throughout, including custom kitchens with stainless steel appliances, quartz countertops, and soundproof windows. Many units boast stunning NYC skyline views. Both buildings are conveniently located near public transportation (PATH, train, and bus), Newark Airport, major highways, and universities. 529-531 Mulberry Street features 15 units (11 two-bedroom/two-bathroom, 1 one-bedroom, 3 studios) and a ground-floor retail space (360 sq ft). 166-170 Emmet Street offers 19 units (14 two-bedroom/two-bathroom, 1 two-bedroom/two-bathroom with private terrace, 4 one-bedroom). Both buildings offer tenant terraces. The properties are zoned for mixed use and are currently vacant, presenting a unique opportunity for immediate occupancy and rental income generation. This is a fee simple ownership opportunity. Year built: 2024.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.177414
- Latitude
- 40.719526
