1188 Raymond Boulevard – For Sale

newark-aerial-1188-raymond-blvd2The southeast corner of Broad Street and Raymond Boulevard, perhaps one of the best locations in all of Downtown Newark.  It is Midway between the NJPAC and the Prudential Center and is dirctly serviced by the Newark Subway/LightRail at Military Park.

The property is currently anchored by H&R Block, along with a shoe repair and jewlery store on the ground floor.  There is one ground floor vacancy that was previously a restaurant.  The second floor is currently vacant, however, in the midst of lease negotiations.  The 3rd and 4th floors are tenanted by an architectral firm and Verizon has a cellular installation on the roof.  

The property is also an ideal candidate for conversion to luxury residential loft apartments.  All upper floors could be easily converted and zoning in Downtown Newark has no restriction on building height or size.  Eleven80 Raymond Boulevard newxt door has proven that there is a market for high end residential in downtown Newark and are achieving $35per foot.


Current in place revenue on the property is $143,288.  Projecting the vacancies conservatively puts the total annual revenue over $225,000.  Less expenses of roughly $53,000 this property is a 10% CAP at the asking price.

Asking price is $1,750,000

Contact me directly for more details Geoffrey Bailey 201 426 2211 

Follow this link to download floor plans and a property setup with revenue and expense information



1 Comment

Filed under Real Estate Market

One response to “1188 Raymond Boulevard – For Sale

  1. Please let me know if you’re looking for a article writer for your blog. You have some really good articles and I think I would be a good asset. If you ever want to take some of the load off, I’d absolutely love to write some material for your blog in exchange for a link back to mine.
    Please shoot me an email if interested. Thanks!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s