Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1900
Sq.Footage
N/A
A rare opportunity to acquire a fully income-producing mixed-use property in the heart of Downtown Newark's Arena District, steps from the Prudential Center and Mulberry Commons Park. 218 Mulberry Street offers immediate cash flow with significant long-term upside in one of Newark's most active redevelopment corridors. The property features a strong commercial anchor tenant generating approximately $240,000 annually, plus four residential units above, providing a diversified income stream with total annual income of approximately $349,200 and a net operating income of approximately $291,900. Operating expenses are low, tenants pay all utilities, and the property is owner-managed. All leases are month-to-month, offering incoming ownership flexibility to lock in long-term leases, optimize rents, or reposition the asset. Located within a major redevelopment zone surrounded by substantial public and private investment, the property is widely regarded as a strategic parcel in the continued transformation of Downtown Newark. Ideal for 1031 exchange buyers, long-term hold investors, value-add strategies, or assemblage-minded buyers seeking stable income today with meaningful future potential.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Basement YN
YES
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Aluminum Siding, Brick, Wood Siding
-
Pool
No
Area & Lot
-
Lot Features
Corner Lot
-
Lot Size(acres)
0.08
-
Property Type
Commercial Sale
-
Property Sub Type
Mixed Use
Price
-
Sales Price
$5,800,000
-
Tax Amount
36877.0
-
Zoning
Redevelopment
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
3
-
Ownership
Fee Simple
-
Sewer
Public Sewer
-
Tax Lot
*
-
Water Source
Public
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Location
County
Essex
Elementary School
Middle School
High School
Listing Courtesy of None , EXP REALTY, LLC
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FOUNDER
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