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972 18th Ave 4,489 SF 100% Leased Retail Building Newark, NJ 07106 $550,000 ($122.52/SF) 11.53% Cap Rate
Investment Highlights
- Recently Obtained NFA.
Executive Summary
Fully leased 4 unit commercial property. Recently obtained NFA for removed oil tank.
Wonderful cash-flower. Separate electric, gas and even water meters. Well-maintained building.
Income and expense figures are accurate. Seller looking for a quick closing and ideally cash offers. Seller is open to owner financing (seller financing) for a qualified purchaser.
Jamaican Restaurant: lease through 12/31/2029 $1,260
Salon: lease through 3/31/2028 $1,700
Corner Restaurant: lease through 9/30/2029 $2,100
Church: MTM $2,000
Wonderful cash-flower. Separate electric, gas and even water meters. Well-maintained building.
Income and expense figures are accurate. Seller looking for a quick closing and ideally cash offers. Seller is open to owner financing (seller financing) for a qualified purchaser.
Jamaican Restaurant: lease through 12/31/2029 $1,260
Salon: lease through 3/31/2028 $1,700
Corner Restaurant: lease through 9/30/2029 $2,100
Church: MTM $2,000
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$84,720
|
$18.87
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,236
|
$0.94
|
| Effective Gross Income |
$80,484
|
$17.93
|
| Taxes |
$6,538
|
$1.46
|
| Operating Expenses |
$10,524
|
$2.34
|
| Total Expenses |
$17,062
|
$3.80
|
| Net Operating Income |
$63,422
|
$14.13
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $84,720 |
| Annual Per SF | $18.87 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,236 |
| Annual Per SF | $0.94 |
| Effective Gross Income | |
|---|---|
| Annual | $80,484 |
| Annual Per SF | $17.93 |
| Taxes | |
|---|---|
| Annual | $6,538 |
| Annual Per SF | $1.46 |
| Operating Expenses | |
|---|---|
| Annual | $10,524 |
| Annual Per SF | $2.34 |
| Total Expenses | |
|---|---|
| Annual | $17,062 |
| Annual Per SF | $3.80 |
| Net Operating Income | |
|---|---|
| Annual | $63,422 |
| Annual Per SF | $14.13 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
4,489 SF
Building Class
C
Year Built
1950
Price
$550,000
Price Per SF
$122.52
Cap Rate
11.53%
NOI
$63,415
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.90
Lot Size
0.11 AC
Zoning
Commercial - C2
Amenities
- Freeway Visibility
- Restaurant
- Signage
Exceptionally walkable
90/100
Fairly drivable
50/100
Good public transit
70/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 14-04050-01-00026 | Total Assessment | $175,000 |
| Land Assessment | $110,000 | Annual Taxes | $6,538 ($1.46/SF) |
| Improvements Assessment | $65,000 | Tax Year | 2025 |
Property Taxes
Parcel Number
14-04050-01-00026
Land Assessment
$110,000
Improvements Assessment
$65,000
Total Assessment
$175,000
Annual Taxes
$6,538 ($1.46/SF)
Tax Year
2025
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972 18th Ave