Commercial Sale in Newark

$1,450,000

699-701 Frelinghuysen, 07114, Newark, NJ

Commercial Sale for sale in Newark, 699-701 Frelinghuysen, 07114

699-701 Frelinghuysen, 07114, Newark, NJ

$1,450,000

Type: Commercial Sale

Description

Positioned directly adjacent to the Lionsgate development, this mixed-use commercial building offers investors a rare value-add opportunity in one of Newark's most active growth corridors. The ground floor features a cigar shop operating under an active lease, delivering immediate in-place income from day one, alongside a separate vacant warehouse space with adjoining office area ready for an owner-user, new tenant, or repositioning to suit market demand. The second floor holds 6 residential units offering significant upside through lease-up, renovation, and rent stabilization to market rates. This is a true value-add play — a stabilized retail anchor providing carrying income while the vacant warehouse/office and residential units offer multiple paths to increase NOI, whether through lease-up of the vacant commercial space, unit-by-unit renovation of the second floor, or a broader repositioning of the asset to capture rising rents in the immediate area. Its location next to Lionsgate places the property directly in the path of one of Newark's most significant nearby developments, with the surrounding neighborhood poised to benefit from that growth, making this an ideal fit for value-add investors, owner-users seeking commercial space with income-producing upside, or investors looking to build a multifamily/commercial hold in an emerging Newark submarket.

Location

699-701 Frelinghuysen, 07114, Newark, NJ

Data

Object TypeCommercial Sale
Purchase Price$1,450,000
Living Space0 m²
Plot SizeN/A
BathroomsN/A
Construction YearN/A
ConditionNot specified
RoomsN/A

Energy Information

Heating TypeNatural Gas, Other
Primary Energy SourceN/A
Construction YearN/A
Energy CertificateN/A
Final Energy DemandN/A
Certificate Valid UntilN/A
Energy Efficiency ClassN/A

Contact Agent

Listing Agent