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.