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245-249 Verona Ave 17,360 SF Industrial Building Newark, NJ 07104 $2,950,000 ($169.93/SF)
Investment Highlights
- Easy access to major corridors including I-280, Route 21, Garden State Parkway, and I-95
- Strong tenant demand in Newark’s rapidly growing North Ward residential market
- Mixed-use zoning enables both income stability and redevelopment potential
- Solid existing infrastructure with room for modernization
Executive Summary
Redevelopment opportunity located nearby new York New jersey corridor, already zoned MX-2 this .2 lot ready for transformation. Potential to reposition industrial space for higher-value commercial and residential uses.
Turn of the century 17,360 square foot building in the Forrest Hill section of Newark with very easy access to McCarter Highway route 21. Three floors total; 1st floor 6380 sqft, 2nd floor 6090 sqft, 3rd floor 4890 sqft, plus roof top. Inside you'll find a loading dock servicing the 1st /2nd floor and then fork lift access through back of building. Service elevator in back of building (not working as is). Abundant amount of electric: 240v, 3 phase, split service to each rentable floor/ unit. Very high ceilings on each of the floors. Drive in garage. Office area, conference room, and kitchenette lounge area with 2 balconies overlooking back of building. One rollup door garage in front and 1 drive in garage on lower basement level. Updated HVAC system.
Turn of the century 17,360 square foot building in the Forrest Hill section of Newark with very easy access to McCarter Highway route 21. Three floors total; 1st floor 6380 sqft, 2nd floor 6090 sqft, 3rd floor 4890 sqft, plus roof top. Inside you'll find a loading dock servicing the 1st /2nd floor and then fork lift access through back of building. Service elevator in back of building (not working as is). Abundant amount of electric: 240v, 3 phase, split service to each rentable floor/ unit. Very high ceilings on each of the floors. Drive in garage. Office area, conference room, and kitchenette lounge area with 2 balconies overlooking back of building. One rollup door garage in front and 1 drive in garage on lower basement level. Updated HVAC system.
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
-
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-
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| Operating Expenses |
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| Total Expenses |
$99,999
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$9.99
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Financial Summary (Actual - 2026) Click Here to Access
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,950,000 | Rentable Building Area | 17,360 SF |
| Price Per SF | $169.93 | No. Stories | 3 |
| Sale Type | Investment | Year Built | 1930 |
| Sale Condition | Redevelopment Project | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 0.29/1,000 SF |
| Property Subtype | Manufacturing | Clear Ceiling Height | 12’ |
| Building Class | C | No. Dock-High Doors/Loading | 1 |
| Lot Size | 0.20 AC | No. Drive In / Grade-Level Doors | 1 |
| Zoning | Med Density Res/ Commerci - Mx2- Medium Density Residential Commercial | ||
| Price | $2,950,000 |
| Price Per SF | $169.93 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 0.20 AC |
| Rentable Building Area | 17,360 SF |
| No. Stories | 3 |
| Year Built | 1930 |
| Tenancy | Single |
| Parking Ratio | 0.29/1,000 SF |
| Clear Ceiling Height | 12’ |
| No. Dock-High Doors/Loading | 1 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | Med Density Res/ Commerci - Mx2- Medium Density Residential Commercial |
Utilities
- Lighting - Fluorescent
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
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- -
- -
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$9.99
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Lorem Ipsum
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| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
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- | - | $9.99 | Lorem Ipsum | Jan 0000 |
Walk Score®
Very Walkable (77)
Property Taxes
| Parcel Number | 14-00849-0000-00039 | Improvements Assessment | $180,600 (2025) |
| Land Assessment | $149,600 (2025) | Total Assessment | $330,200 (2025) |
Property Taxes
Parcel Number
14-00849-0000-00039
Land Assessment
$149,600 (2025)
Improvements Assessment
$180,600 (2025)
Total Assessment
$330,200 (2025)
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245-249 Verona Ave
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