Homes for sale - 549 S Orange Ave, Newark City, NJ 07103

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Shirley Colon-Crocitto

oneteamrog@gmail.com +1(732) 947-2083

$ 1,099,000

Est. payment | -/mo

3,779 SqFt

Save

$ 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.

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(732) 947-2083

oneteamrog@gmail.com

2 Bridge Ave, Bank, NJ, 07701, United States

549 S Orange Ave Newark City, NJ 07103