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198-210 Elizabeth Ave - 1.41-Acre Newark Development Site 1.41 Acres of Commercial Land Offered at $6,800,000 in Newark, NJ 07108
Investment Highlights
- Proposed 200-Unit Multifamily Development
- C-2 Community Commercial & Residential Zoning
- Concept Includes Structured Parking
- Vacant & Flat Development Site
- Long-Term PILOT Potential
- Large Newark Redevelopment Opportunity
Executive Summary
Rare opportunity to acquire a 1.41-acre vacant development site in Newark with C-2 zoning and a proposed concept for a large-scale multifamily project. The property is flat and largely cleared, offering a straightforward development profile compared with sites requiring extensive demolition or site preparation. Current conceptual plans contemplate approximately 200 multifamily units with structured parking and residential floors above, subject to all municipal and governmental approvals. The site also offers potential for a long-term PILOT structure and provides developers with a sizable assemblage in an established Newark neighborhood with strong redevelopment potential. The site is cleared, generally level, and appears well-positioned for future development, offering buyers a clean starting point for site planning and construction, subject to all required municipal approvals.
Property Facts
1 Lot Available
Lot
| Price | $6,800,000 | Lot Size | 1.41 AC |
| Price Per AC | $4,822,695.04 |
| Price | $6,800,000 |
| Price Per AC | $4,822,695.04 |
| Lot Size | 1.41 AC |
1.41-acre vacant, level development site in Newark with C-2 zoning, multiple assembled parcels, and strong potential for large-scale multifamily or mixed-use redevelopment.
Description
Large, mostly cleared and level site with an open layout, strong street exposure, and convenient access from surrounding roadways. The property offers a flexible footprint suitable for a variety of potential redevelopment uses.
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Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Fairly bikeable
50/100
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