2
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$874,999
Est. payment /mo
2,613 Sqft Lot
New
146 Sherman Ave Newark City, NJ 07114
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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3972297
Year Built 1920
Annual Tax Amount $5,540
Tax Year 2024
Lot Size 2,613 Sqft
Property Sub-Type Mixed Use
Property Description
Opportunity knocks in the heart of Newark! 146 Sherman Ave is a recently renovated mixed-use four-unit property featuring one ground-floor retail space and three residential apartments. All tenants are currently on month-to-month leases, offering both stability and flexibility for investors or owner-users.Grocery store tenant is long-standing and interested in renewing lease. More details available upon request to qualified buyers.Bonus income from four rear garage units, currently rented at $100/month each, further boosts your returns. With low operating expenses and a strong in-place Net Operating Income of over $65,000 annually, this is a turnkey asset in a rapidly developing area.Whether you're looking to add a solid cash-flowing investment to your portfolio or seeking a live-work opportunity, this property checks all the boxes.
Location
State NJ
County Essex
Zoning R-3
Rooms
Basement Unfinished
Interior
Heating Gas-Natural
Cooling Central Air
Equipment Appliances, Fire Alarm, Smoke Detector
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Utilities Available Electric, Gas-Natural
Roof Type Asphalt Shingle
Building
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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