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59 Market St 23,534 SF 100% Leased Office Building Newark, NJ 07102 $2,800,000 ($118.98/SF)
Investment Highlights
- Six-story building + mezzanine + basement
- Elevator & freight access throughout
- High ceilings ranging from 8 to 18 feet
- Radiator heating across multiple floors
Executive Summary
59-61 Market Street represents a compelling urban investment opportunity in one of New Jersey’s fastest-evolving cities. Positioned in the core of Newark, the asset benefits from strong market fundamentals, excellent transit connectivity, and significant redevelopment upside.With its flexible configuration and prime location, the property offers investors a clear path to value creation and long-term appreciation
Positioned in the heart of downtown Newark, 59 Market Street presents a rare opportunity to acquire a fully functional, multi-level commercial building with exceptional infrastructure, flexible layouts, and direct access to both passenger and freight elevators.This asset is ideally suited for office, institutional, creative, or mixed-use redevelopment.
Positioned in the heart of downtown Newark, 59 Market Street presents a rare opportunity to acquire a fully functional, multi-level commercial building with exceptional infrastructure, flexible layouts, and direct access to both passenger and freight elevators.This asset is ideally suited for office, institutional, creative, or mixed-use redevelopment.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
23,534 SF
Building Class
B
Year Built
1925
Price
$2,800,000
Price Per SF
$118.98
Percent Leased
100%
Tenancy
Multiple
Building Height
7 Stories
Typical Floor Size
3,361 SF
Building FAR
6.13
Lot Size
0.09 AC
Opportunity Zone
Yes
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Exceptionally walkable
90/100
Moderately drivable
60/100
Exceptional public transit
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 14-00072-0000-00022 | Improvements Assessment | $237,200 |
| Land Assessment | $562,500 | Total Assessment | $799,700 |
Property Taxes
Parcel Number
14-00072-0000-00022
Land Assessment
$562,500
Improvements Assessment
$237,200
Total Assessment
$799,700
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