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Mixed-Use

260 Broadway

260 Broadway, Newark, NJ 07104

Listing Price: $1,700,000

Cap Rate
8.32%
Gross SF
9,010
Rentable SF
9,010
Price/Gross SF
$188.68
Lot Size
0.20 acres
Year Built
1960

Investment Overview

Marcus & Millichap has been hired exclusively to market the sale of 260 Broadway in Newark, New Jersey. Laying on a 0.2-acre lot, the 2-story property is currently 9,010 square feet of office space with a possibility of retail on the ground floor in the Lower Broadway area. Also includes 12 existing parking spaces

260 Broadway gives the ability for a cover-land play with a potential sale lease back. This site has potential to be redeveloped into a potential 8 story mixed-use building, giving an investor the opportunity to capitalize on Newark’s growing rental rates and increasing population.

Blocks away from a public elementary school, new developments, public parks, Route 21, and public transportation, this site resides in an up-and-coming neighborhood.

Investment Highlights

  • Potential Sale Lease Back Of A +/-9K Commercial Building With The Potential To Build A Mixed-Use Building
  • Covered Land Play 
  • Potential Sale Lease Back With A 8.32% Cap Rate At Asking Price
  • Attractive C-2 Zoning 
  • Situated On Major Retail Corridor With Close Proximity To Route 21
  • Parking On-Site

Exclusively Listed By

Mixed-Use

260 Broadway

Listing Price: $1,700,000

Cap Rate
8.32%
Gross SF
9,010
Rentable SF
9,010
Price/Gross SF
$188.68
Lot Size
0.20 acres
Year Built
1960

Investment Highlights

  • Potential Sale Lease Back Of A +/-9K Commercial Building With The Potential To Build A Mixed-Use Building
  • Covered Land Play 
  • Potential Sale Lease Back With A 8.32% Cap Rate At Asking Price
  • Attractive C-2 Zoning 
  • Situated On Major Retail Corridor With Close Proximity To Route 21
  • Parking On-Site

Investment Overview

Marcus & Millichap has been hired exclusively to market the sale of 260 Broadway in Newark, New Jersey. Laying on a 0.2-acre lot, the 2-story property is currently 9,010 square feet of office space with a possibility of retail on the ground floor in the Lower Broadway area. Also includes 12 existing parking spaces 260 Broadway gives the ability for a cover-land play with a potential sale lease back. This site has potential to be redeveloped into a potential 8 story mixed-use building, giving an investor the opportunity to capitalize on Newark’s growing rental rates and increasing population. Blocks away from a public elementary school, new developments, public parks, Route 21, and public transportation, this site resides in an up-and-coming neighborhood.

Exclusively Listed By

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