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Mixed-Use

82-84 Broadway

82 Broadway, Newark, NJ 07104

Listing Price: $1,150,000

Cap Rate
6.14%
Number of Units
7
Occupancy
100.0%
Price/Unit
$164,286
Price/Gross SF
$143.75
Gross SF
8,000

Investment Overview

Marcus & Millichap is pleased to present an opportunity to acquire a mixed use property in the Lower Broadway section of Newark, New Jersey. This seven unit building has a mix of retail and residential tenants. The ground floor is occupied by two 1900 square foot retail spaces with long term tenants. The second and third floor of this three story brick building have five residential units: two 1-bedroom and three 3-bedroom apartments. All tenants pay for their own separately metered gas and electric. Retail tenants pay for their own heating/cooling (individual HVAC units). Residential tenants also pay for their own heat & hot water (individual boilers/baseboard hot water). The location is excellent for retail tenants who enjoy 20k+ traffic count along broadway. Residential tenants have access to seven bus lines within a couple of blocks and have a multitude of shopping options within walking distance. This opportunity provides a savvy investor with a tremendous upside due to the fact that both residential and retail rents are well below market averages.

Investment Highlights

  • Great Unit Mix of Retail and residential tenants in great location with 20k+ traffic count. Retail tenants long term and well under market, providing investor with significant upside
  • All units separately metered-tenants pay electric & gas. All tenants pay for their own heat & hot water: Retail (HVAC heating & cooling), Residential (separate hot water baseboard )
  • Location along busy Broadway benefits both residential and retail tenants providing access to shopping, entertainment and public transportation

Exclusively Listed By

Listing Price: $1,150,000

Cap Rate
6.14%
Number of Units
7
Occupancy
100.0%
Price/Unit
$164,286
Price/Gross SF
$143.75
Gross SF
8,000

Investment Highlights

  • Great Unit Mix of Retail and residential tenants in great location with 20k+ traffic count. Retail tenants long term and well under market, providing investor with significant upside
  • All units separately metered-tenants pay electric & gas. All tenants pay for their own heat & hot water: Retail (HVAC heating & cooling), Residential (separate hot water baseboard )
  • Location along busy Broadway benefits both residential and retail tenants providing access to shopping, entertainment and public transportation

Investment Overview

Marcus & Millichap is pleased to present an opportunity to acquire a mixed use property in the Lower Broadway section of Newark, New Jersey. This seven unit building has a mix of retail and residential tenants. The ground floor is occupied by two 1900 square foot retail spaces with long term tenants. The second and third floor of this three story brick building have five residential units: two 1-bedroom and three 3-bedroom apartments. All tenants pay for their own separately metered gas and electric. Retail tenants pay for their own heating/cooling (individual HVAC units). Residential tenants also pay for their own heat & hot water (individual boilers/baseboard hot water). The location is excellent for retail tenants who enjoy 20k+ traffic count along broadway. Residential tenants have access to seven bus lines within a couple of blocks and have a multitude of shopping options within walking distance. This opportunity provides a savvy investor with a tremendous upside due to the fact that both residential and retail rents are well below market averages.

Exclusively Listed By

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