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303 Morris Ave 0.28 Acres of Commercial Land Offered at $1,600,000 in Newark, NJ 07103
Executive Summary
Unparalleled development opportunity awaits in Newark’s University Heights. Five contiguous lots at 303 Morris Ave offer shovel-ready approvals for a 27-unit residential building with approximately 5,500 SF of ground-floor commercial space. This rare parcel is surrounded by established apartment communities and academic facilities, delivering strong rental demand and excellent walkability to transit, universities, and downtown Newark. Ideal for developers and investors seeking an entitlement-ready multifamily + retail project in a high-growth, transit-oriented neighborhood.
Key Features:
* Property: Five contiguous vacant lots (sale as a package)
* Address: 303 Morris Ave, Newark, NJ 07103
* Approved Development: 27 residential units + ~5,500 SF commercial space (ground floor)
* Lot Area: ~0.2891 acres (˜12,593 SF)
* Entitlements: Shovel-ready approvals
* Utilities: Municipal water, sewer & electric access
* Documents: Available
Key Features:
* Property: Five contiguous vacant lots (sale as a package)
* Address: 303 Morris Ave, Newark, NJ 07103
* Approved Development: 27 residential units + ~5,500 SF commercial space (ground floor)
* Lot Area: ~0.2891 acres (˜12,593 SF)
* Entitlements: Shovel-ready approvals
* Utilities: Municipal water, sewer & electric access
* Documents: Available
Property Facts
1 Lot Available
Lot
| Price | $1,600,000 | Lot Size | 0.28 AC |
| Price Per AC | $5,714,285.71 |
| Price | $1,600,000 |
| Price Per AC | $5,714,285.71 |
| Lot Size | 0.28 AC |
This package features five contiguous lots in Newark’s University Heights neighborhood, totaling approximately 0.2891 acres (12,593 square feet).The lots are Shovel ready for a mixed-use development of 27 residential units and 1x5500 SQ FT commercial
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Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $175,200 | Total Assessment | $175,200 |
Property Taxes
Parcel Numbers
Land Assessment
$175,200
Improvements Assessment
$0
Total Assessment
$175,200
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303 Morris Ave
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