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67 Broadway , Newark City, NJ 07104-4840

$950,000

Detail

  • Property ID: 3934175
  • Price: $950,000
  • Year Built: 1920
  • Property Type: Commercial Sale/Lease
  • Property Status: Commercial

Description

Discover a highly desirable mixed-use property just five blocks from the heart of downtown, offering excellent rental income at 7.25% CAP Rate and long-term leases. This property is ideal for investors looking for a steady revenue stream with growth potential!Commercial Space (1st Floor): Spacious commercial area with a basement, currently leased for $2,570 per month with a secure 10-year lease and a 3% annual rent increase. This setup ensures reliable income with a growth trajectory for years to come.Residential Units:2nd Floor: Fully renovated 4-bedroom, 1-bathroom apartment with a lease in place. Enjoy $2,550 in monthly rent for this renovated unit, offering a comfortable living space for tenants.3rd Floor: 3 bedrooms, 1-bathroom unit renting at $2,000 per month.Additional Highlights:No on-site parking, but conveniently located just a short five-block walk to downtown.

  • Address: 67 Broadway
  • City: Newark City
  • State/county: ESSEX / NJ
  • Zip/Postal Code: 07104-4840
  • Country: United States

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Listing information last updated on 2024-11-23 9:00 AM.