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95 16th Ave 8,300 SF 100% Leased Retail Building Newark, NJ 07103 $1,575,000 ($189.76/SF) 7.58% Cap Rate
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Investment Highlights
- 95 16th Avenue presents a four-story, freestanding mixed-use building consisting of six one-bedroom apartments and three retail units.
- Fully leased and income-generating, 95 16th Street serves a large rental demand pool and is occupied by two local clothing stores and a hair salon.
- Located less than 1 mile from the Rutgers University Hospital, midway to Interstate 280 and Interstate 78, as well as 4.5 miles from Newark Int’l.
- Highly visible and easily accessible at the four-way intersection of S 6th Street and 16th Avenue, with 50 feet of frontage along S 6th Street.
- Nestled in Newark’s West Side neighborhood, where locals are within walking distance of schools, shops, and parks.
Executive Summary
Rose Real Estate is pleased to offer a well-located nine-unit mixed-use property in Newark, New Jersey.
All units are individually metered for electric, gas, heat, and hot water, minimizing landlord expenses and delivering consistent, reliable cash flow without uncertainty around utility exposure. The property benefits from strong accessibility for residential tenants, commercial customers, and ownership, supporting ease of management and long-term value.
The West Side neighborhood of Newark supports the commercial and residential tenants of 95 16th Avenue, which is a developing hub outside Newark’s bustling city center. The Rutgers University campus, hospital, research, and housing developments surround the area. A growing population of more than 222,000 residents resides within 2 miles of the property, with approximately 83% of the area occupied by rental housing. The public university drives housing demand and supports healthy consumer spending, generating revenue for local retailers.
95 16th Avenue serves guaranteed consumer demand and has generated an NOI of nearly $120,000, offering a passive investment opportunity while providing stabilized streams of rental income.
All units are individually metered for electric, gas, heat, and hot water, minimizing landlord expenses and delivering consistent, reliable cash flow without uncertainty around utility exposure. The property benefits from strong accessibility for residential tenants, commercial customers, and ownership, supporting ease of management and long-term value.
The West Side neighborhood of Newark supports the commercial and residential tenants of 95 16th Avenue, which is a developing hub outside Newark’s bustling city center. The Rutgers University campus, hospital, research, and housing developments surround the area. A growing population of more than 222,000 residents resides within 2 miles of the property, with approximately 83% of the area occupied by rental housing. The public university drives housing demand and supports healthy consumer spending, generating revenue for local retailers.
95 16th Avenue serves guaranteed consumer demand and has generated an NOI of nearly $120,000, offering a passive investment opportunity while providing stabilized streams of rental income.
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,300 SF
Building Class
B
Year Built
1970
Price
$1,575,000
Price Per SF
$189.76
Cap Rate
7.58%
NOI
$119,385
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
3.18
Lot Size
0.06 AC
Zoning
Commercial - Commercial
Frontage
50’ on 16th ave
Walk Score®
Very Walkable (82)
Demographics
Demographics
1 mile
3 mile
5 mile
15 min drive
2024 Population
55,095
436,403
765,588
1,345,872
2029 Population
53,055
423,034
743,958
1,396,284
2024-2029 Projected Population Growth
-3.7%
-3.1%
-2.8%
3.7%
Median Age
33.1
35.8
37.2
38.6
College Degree + Higher
17%
21%
27%
21%
Daytime Employees
41,170
193,689
299,289
497,224
Total Businesses
2,657
15,485
27,980
52,789
Average Household Income
$46,411
$65,513
$82,307
$109,814
Median Household Income
$31,384
$48,148
$58,459
$78,885
Total Consumer Spending
$361.3M
$3.5B
$7.2B
$14.4B
2024 Households
19,488
159,594
277,536
490,736
Average Home Value
$302,834
$344,525
$424,221
$544,019
Nearby Major Retailers
Property Taxes
| Parcel Number | 14-00293-0000-00033 | Improvements Assessment | $465,000 |
| Land Assessment | $30,000 | Total Assessment | $495,000 |
Property Taxes
Parcel Number
14-00293-0000-00033
Land Assessment
$30,000
Improvements Assessment
$465,000
Total Assessment
$495,000
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95 16th Ave
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