Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    76-78 Millington Ave, Unit 78 Newark, NJ 07108-1440
    Back to Search
    Property profile & analytics

    76-78 Millington Ave, Unit 78, Newark, NJ 07108-1440

    View on Map
    • Residential income homes
    • 4,746 SF
    • 0.09 lot acres
    Off-Market
    Property ID
    US59-0567633
    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.
    Value Estimations
    $1,090,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 76-78 Millington Ave

    Year built
    1930
    Lot size
    0.09 lot acres
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    14 03035-0000-00003
    APU
    1403035000000003

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 5, 2012 — Tjml Properties LLC — Trustees Deed · related $1k · Santander Rs LLC
    May 12, 2011 $225,000 Tjml Properties LLC Bb 244 Roseville LLC Grant Deed $225k · Bb 244 Roseville LLC
    Oct 26, 2010 — Bb 244 Roseville LLC Rieger,naftuli Grant Deed —
    — — Tjml Properties LLC — Deed Of Trust · related $225k · Valley National Bank
    — — Tjml Properties LLC — Deed Of Trust · related $380k · Valley Nat'l Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,340,000
      6.5%
      $1,235,000
      7%
      $1,150,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2104
    Latitude
    40.7204
    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
    $10,734
    $33,800
    $253,500
    $287,300
    -
    $33,800
    $253,500
    $287,300

    Comparable in this City

    • Value Estimation by Request
      0.11 Acres

      843-845 19th St, Unit 845

      APARTMENT HOUSE (UNDER 5 UNITS)
      843-845 19th St, Newark, NJ 07108-1109
      View Details
    • Value Estimation by Request
      0.11 Acres

      222-224 Runyon St

      APARTMENT HOUSE (UNDER 5 UNITS)
      222-224 Runyon St, Newark, NJ 07108-3822
      View Details
    • Value Estimation
      $505,000
      0.11 Acres

      27-29 Tillinghast St, Unit 29

      APARTMENT HOUSE (UNDER 5 UNITS)
      27-29 Tillinghast St, Newark, NJ 07108-1760
      View Details
    • Value Estimation by Request
      0.10 Acres

      42-44 Tillinghast St, Unit 44

      APARTMENT HOUSE (UNDER 5 UNITS)
      42-44 Tillinghast St, Newark, NJ 07108-1979
      View Details
    • Value Estimation
      $565,000
      0.17 Acres

      53-55 Osborne Ter, Unit 55

      APARTMENT HOUSE (UNDER 5 UNITS)
      53-55 Osborne Ter, Newark, NJ 07108-1767
      View Details
    • Value Estimation
      $825,000
      0.43 Acres

      17 Stratford Pl, Unit 23

      APARTMENT HOUSE (UNDER 5 UNITS)
      17 Stratford Pl, Newark, NJ 07108-2845
      View Details

    Similar Nearby for Sale

    • $850,000
      4,500 SF

      Newark City Mixed-Use Property

      Mixed-use property with restaurant and apartments in Newark City.
      473 Clinton Ave, Newark, NJ 07108
      View Details
    • $399,000
      Pending

      Newark City Multi-Family Investment

      Three-story multi-family property in Newark City, great investment opportunity.
      783 S 13Th St, Newark, NJ 07108
      View Details
    • $500,000
      4,534 SF

      Newark Multifamily Property with Bonus

      Legal 2-family home with bonus floor, great investment opportunity.
      123 Seymour Ave, Newark, NJ 07108
      View Details
    • Contact for pricing
      17,400 SF

      Renovated Multifamily in Newark, NJ

      18-unit renovated multifamily property with value-add potential and vacancy.
      47-53 Milford Ave, Newark, NJ 07108
      View Details
    • Contact for pricing
      999 SF

      Mixed-Use Building With Storefronts

      Mixed-use building featuring residential units and storefronts for sale.
      814 Clinton Ave, Newark, NJ 07108
      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.
    76-78 Millington Ave, Unit 78
    Newark, NJ 07108-1440
    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

    Thank You for Inquiry
    76-78 Millington Ave, Newark, NJ, 07108
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!