I am proud to bring to market 2 new properties in the Newark/Eastern Essex County area.
The first is a property in East Orange on Park Avenue. It is actually two properties on the corner of North 15th Street and Park Avenue. The property has been an auto body shop for over 20 years. It is a great property for either conversion to retail or residential or for a body shop operator. We are asking $620,000 for the property totaling 18,600 sqft.
The second property is a commercial investment property on Clinton Avenue in the Sout Broad Street neighborhood of Newark, NJ. This property is an 8 unit commercial property, most of the tenants have been in place for 20 or more years. The property generates over $90,000 in net operating income. At a $1,000,000 asking price this represents a CAP rate of 9.34% – Truly an excellent opportunity.