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$1,500,000
Est. payment /mo
5,558 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 5,558 sqft
Price per Sqft $269
Subdivision University Heights
MLS Listing ID 4024072
Year Built 1935
Annual Tax Amount $12,784
Tax Year 2025
Lot Size 3,049 Sqft
Property Description
Great multi-family building with two 4BR/2BA apartments and approximately 3,000 SF of prime ground-floor commercial space in the heart of Newark's University Heights district. The ground floor was formerly operated as a lounge and is wide-open, featuring two existing bar setups areas and an adaptable layout ideal for a restaurant or cafe. Positioned just minutes from Rutgers University, NJIT, Essex County College, major hospitals, and premier attractions like NJPAC and Prudential Center, this location enjoys strong foot traffic and excellent visibility. The surrounding area is dense with students, professionals, and daily commuters, offering a built-in audience. Two bar areas in place with high ceilings and flexible interior layout. Prominent frontage along Central Avenue, steps from public transportation and major highways. Surrounded by colleges, hospitals, and downtown amenities in one of Newark's most dynamic and fast-growing corridors. Liquor License Can be purchased separately for $155,000
Location
State NJ
County Essex
Zoning Mixed Use
Rooms
Basement Bilco-Style Door, Partial, Storage, Unfinished
Interior
Heating Gas-Natural
Cooling 3 Units, Central Air
Equipment Appliances, Fire Alarm, Kitchen Area, Restrooms - Public, Sign - Building, Sign - Roof, Smoke Detector, Storage Area(s)
Heat Source Gas-Natural
Exterior
Exterior Feature Brick/Block, Vinyl Siding
Utilities Available Electric, Gas-Natural
Roof Type Flat
Building
Lot Description Corner
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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Listed by COLDWELL BANKER REALTY
NEARBY SCHOOL & BUSINESS
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