218 Mulberry St,Newark City, NJ 07102
Newark City, NJ 07102
Description
Price Adjustment to reflect a 6.25% CAP RATE. A rare opportunity to acquire a fully income-producing mixed-use property in the heart of Downtown Newark's Arena District, steps from the Prudential Center and Mulberry Commons Park. 218 Mulberry Street offers immediate cash flow with significant long-term upside in one of Newark's most active redevelopment corridors. The property features a strong commercial anchor tenant generating approximately $240,000 annually, plus four residential units above, providing a diversified income stream with total annual income of approximately $349,200 and a net operating income of approximately $291,900. Operating expenses are low, tenants pay all utilities, and the property is owner-managed. All leases are month-to-month, offering incoming ownership flexibility to lock in long-term leases, optimize rents, or reposition the asset. Located within a major redevelopment zone surrounded by substantial public and private investment, the property is widely regarded as a strategic parcel in the continued transformation of Downtown Newark. Ideal for 1031 exchange buyers, long-term hold investors, value-add strategies, or assemblage-minded buyers seeking stable income today with meaningful future potential.
Details
| MLS # | 4004798 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1900 |
| Days On Site | 266 |
| Listing Provided By | EXP REALTY, LLC | HECTOR R. ROJAS |
Features
| Basement | Y |
|---|---|
| Story(s) | 3 |
| Units | 5 |
| Zoning | Redevelopment |
Taxes
| Property | 36877 |
|---|
Area Information
| State | NJ |
|---|---|
| County | Essex |
| City | Newark City |
| Zip Code | 07102 |
| Area | Essex |
| Listing VS Median (in 07102) | |
Price: $4,800,000 low | high Med: $55,000 On site: 266 low | high Med: 42 | |
Market Activity 07102
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Learn More About This Property
| State | NJ |
|---|---|
| County | Essex |
| City | Newark City |
| Zip Code | 07102 |
| Area | Essex |
| Listing VS Median (in 07102) | |
Price: $4,800,000 low | high Med: $55,000 On site: 266 low | high Med: 42 | |