Patriot First Professional Services 521-523 Washington St 20 Unit Apartment Building $2,750,000 ($137,500/Unit) 10.84% Cap Rate Newark, NJ 07102

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family building located at 521-523 Washington Street in Newark, New Jersey (“the Property”). The Property consists of a three-story multi-family building containing twenty (20) residential units with 4,838 square feet of gross leasable area on a 0.09-acre corner parcel of land. The Property is 100% leased to Patriot First Professional Services, Inc. Patriot First Professional Services, Inc has leased this building since 2018 and recently extended their lease term (preemptively), demonstrating their commitment to the site and the market. Patriot First Professional Services, Inc has 7+ years remaining on their lease which features attractive annual rent increases.
Strategically situated on Washington Street, a key thoroughfare serving both local commerce and commuter traffic, the Property benefits from a highly accessible location within Newark's densely populated South Broad Street neighborhood. The Property is within walking distance of Broad Street, Lafayette Street, and Market Street, placing it near a wide range of retail, dining, and service amenities. Public transportation options are abundant, with several commuter rail stations nearby, including Newark Penn Station, located approximately 1.2 miles away and providing direct rail service to Manhattan.
The Property also offers outstanding regional connectivity via municipal bus service and convenient access to NJ Route 21, Interstates 78, 95, and 280, as well as the Garden State Parkway. In addition, the surrounding area is home to numerous schools, national retailers, and major employment centers, while Newark's Central Business District is just minutes away, further enhancing the Property's accessibility and long-term appeal.
Newark is a suburb of New York City and is the county seat of Essex County within the New York metropolitan area. The densely populated area is 11-miles southwest of New York City.