549 S Orange Ave, Newark City, NJ 07103 – 3977346

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Felix Hernandez

felix@rxpteam.com +1(347) 921-0999

$ 1,099,000

Est. payment | -/mo

3,779 SqFt

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$ 1,099,000

Est. payment | -/mo

Save

3,779 SqFt

Key Details

Property Type Single Family Home

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 3,779 sqft

Price per Sqft $290

MLS Listing ID 3977346

Year Built 2024

Tax Year 2024

Lot Size 2,613 Sqft

Property Sub-Type Mixed Use

Property Description

Exceptional investment opportunity in the heart of Newark. This newly constructed 3-story mixed-use building features three residential units and two ground-floor commercial spaces a retail unit (1,132 SF) and an office unit (511 SF). All three apartments are currently leased at $2,300/month each on 3-year leases expiring in 2027, offering stable, in-place cash flow. The commercial units are presently owner-occupied on a month-to-month basis, allowing for flexible occupancy or immediate leasing upside. Both spaces will also be actively marketed for lease, making this a prime opportunity for investors, owner-users, or hybrid retail/residential operators.The property benefits from a valuable 5-year tax abatement, with reduced property taxes structured as follows: Year 1 " 0%, Year 2 " 20%, Year 3 " 40%, Year 4 " 60%, and Year 5 " 80% of full taxes. Located along the South Orange Avenue corridor, this asset is well positioned for long-term growth with convenient access to major highways, public transportation, and Newark's institutional and residential hubs. A rare chance to acquire a turnkey building with strong rental income and immediate commercial upside.

Location

State NJ

County Essex

Zoning C-2

Interior

Heating Gas-Natural

Cooling Central Air

Equipment Fire Alarm, Intercom, Smoke Detector, Sprinkler System

Heat Source Gas-Natural

Exterior

Exterior Feature Brick/Block, Vinyl Siding

Utilities Available All Underground, Electric, Gas-Natural

Roof Type Asphalt Shingle

Building

Lot Description Level Lot

Story 3

Sewer Public Sewer

Water Public Water

Others

Ownership Fee Simple

Listed by FLOROSTONE REALTY INC.

NEARBY SCHOOL & BUSINESS

SCHOOLSPROPERTIES

Elementary Schools 20

10

North Star Academy Charter Schools of Newark

Public | KG - 12
9

Maria Varisco Rogers Charter School

Public | KG - 8
8

Forest Street Elementary School

Public | PK - 7
8

Robert Treat Academy Charter School

Public | KG - 8
7

Hazel Avenue Elementary School

Public | KG - 5
7

Pride Academy Charter School

Public | 5 - 8
6

Mt. Vernon Place Elementary School

Public | PK - 8
6

Lincoln Avenue Elementary School

Public | PK - 7
6

Rosa Parks Community School

Public | PK - 7
6

George Washington School

Public | 5 - 5
6

J. Garfield Jackson Sr. Academy

Public | KG - 5
6

Carteret Elementary School

Public | PK - 6
6

First Avenue Elementary School

Public | PK - 8
6

Branch Brook Elementary School

Public | PK - 4
6

Park Elementary School

Public | PK - 8
6

The Gray Charter School

Public | KG - 8
6

Oliver Street Elementary School

Public | PK - 8
5

Heywood Avenue Elementary School

Public | PK - 7
5

Newark Legacy Charter School

Public | KG - 4
5

Langston Hughes Elementary School

Public | PK - 5

Middle Schools 20

9

Science Park High School

Public | 7 - 12
7

Great Oaks Charter School

Public | 6 - 9
6

East Orange STEM Academy High School

Public | 6 - 12
5

Cicely L. Tyson Community Middle/High School

Public | 6 - 12
5

Arts High School

Public | 7 - 12
4

Krumbiegel Middle School

Public | 6 - 8
4

University High School

Public | 7 - 12
4

American History High School

Public | 6 - 12
3

Union Avenue Middle School

Public | 6 - 8
3

Orange Preparatory Academy

Public | 8 - 9
3

Universiy Middle School

Public | 6 - 8
3

John L. Costley Middle School

Public | 6 - 8
3

Sojourner Truth Middle School

Public | 6 - 8
2

Merit Preparatory Charter School of Newark

Public | 6 - 7
1

Patrick F. Healy Middle School

Public | 6 - 8
1

Eagle Academy

Public | 6 - 7
1

Newark Early College High School

Public | 6 - 10
0

Fast Track Success Academy

Public | 6 - 12
0

Elyon Learning Center Academy

Private | 8 - 12
0

Link Community School

Private | 7 - 8

High Schools 20

10

Technology High School

Public | 9 - 12
8

Bard Early College High School

Public | 9 - 12
6

North 13th St Tech

Public | 9 - 12
6

Bloomfield Tech

Public | 9 - 12
5

Newark Tech

Public | 9 - 12
4

Orange High School

Public | 9 - 12
3

People's Preparatory Charter School

Public | 9 - 11
2

Newark Vocational High School

Public | 9 - 12
1

Irvington High School

Public | 9 - 12
1

Weequahic High School

Public | 9 - 12
1

East Orange Campus High School

Public | 9 - 12
1

West Side High School

Public | 9 - 12
1

Central High School

Public | 9 - 12
1

Malcom X Shabazz High School

Public | 9 - 12
1

Barringer High School

Public | 9 - 12
1

Paulo Freire Charter School

Public | 9 - 10
1

Newark Preparatory Charter School

Public | 9 - 10
0

Seton Hall Preparatory School

Private | 9 - 12
0

Career and Innovation Academy of Orange

Public | 9 - 12
0

Newark Bridges High School

Public | 9 - 12

School and business data provided by Attom Data.

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549 S Orange Ave Newark City, NJ 07103