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572 Bloomfield Ave
Newark, NJ 07107
Multifamily Property For Sale
·
12 Units
PROPERTY FACTS
| No. Units | 12 | Lot Size | 0.08 AC |
| Property Type | Multifamily | Building Size | 14,500 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1926 |
| Building Class | C |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 14,500 SF |
| No. Stories | 3 |
| Year Built | 1926 |
ABOUT 572 BLOOMFIELD AVE , NEWARK, NJ 07107
The subject property is a well maintained mixed use building. This 3 story brick building contains approximately 13,000 sq/ft of rentable space and is utilized as 9 apartments and 3 commercial spaces. The major tenant in the property is the De Rosa Pharmacy (derosahme.com), which has been in business for over 30 years in this location. De Rosa Pharmacy operates as an outpatient care center and pharmacy. De Rosa occupies a 3,000 sq. ft first floor retail space and 3 offices on the 2nd floor of the building. In 2008 De Rosa expanded their space by converting three apartments on the 2nd floor of the building into office space. This build-out was paid for by the Pharmacy and consisted of adding an elevator along with offices, laboratory, waiting room, conference room and two bathrooms to service the space. The remaining units in the building are occupied by a Hair Salon, Chinese Restaurant and 9 apartments. The apartment layout is (3) two bedroom units and (6) one bedroom units. The building recently was updated with a new roof. There has not been a commercial vacancy in this property since 2000.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | $1,090 | 700 - 750 |
| 2+1 | 3 | $1,150 | 800 - 850 |
PROPERTY TAXES
| Parcel Number | 14-00652-0000-00019 | Improvements Assessment | $744,200 |
| Land Assessment | $280,800 | Total Assessment | $1,025,000 |
PROPERTY TAXES
