199 Summer AVE, Newark, NJ 07104
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199 Summer AVE, Newark, NJ 07104
199 Summer AVE, Newark, NJ 07104
199 Summer AVE, Newark, NJ 07104
199 Summer AVE, Newark, NJ 07104
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Patric Santo Pietro

Patric Santo Pietro

+1(732) 570-5442
Listed by Jeanette Rodriguez RE/MAX Professionals 1
$ 649,500
Est. payment /mo
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Active

199 Summer AVE Newark, NJ 07104

UPDATED:

Key Details

Property Type Commercial

Sub Type Industrial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 26021207

Style Industrial

Property Sub-Type Industrial

Property Description

Exceptional mixed-use investment opportunity in North Newark! This well-maintained two-unit property offers strong, stable cash flow with long-term tenancy in place and significant upside for investors seeking a turnkey asset. The ground-floor commercial space is occupied by a successful neighborhood grocery store with 12 years remaining on the lease, providing reliable income and built-in 3% annual rent increases. The business is NOT for sale. The second-floor residential unit features 4 bedrooms, 1 full bathroom, den/office and is currently rented on a month-to-month basis, offering flexibility for future rent adjustments or owner-user possibilities. Current rental income: Commercial Unit: $3,550/month (12 years remaining, 3% annual escalations) Residential Unit: $2,420.50/month (month-to-month)With low annual taxes of just $9,573.61 and a desirable mixed-use configuration, this property delivers excellent cash flow potential and long-term income growth. Conveniently located on a busy street with strong visibility, consistent foot traffic, and easy access to major highways, public transportation, shopping, and local amenities.

Location

State NJ

County Essex

Interior

Heating Baseboard, Gas, Hot Water

New Jersey MLS (NJMLS)
Patric Santo Pietro

Patric Santo Pietro

Agent License ID: 1007170

+1(732) 570-5442

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199 Summer AVE

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