NJ > Newark City
Newark City, NJ 07102,895-897 Mayor Gibson
Newark City, NJ 07102,895-897 Mayor Gibson
Newark City, NJ 07102,895-897 Mayor Gibson
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Giovanni Maggipinto

Giovanni Maggipinto

+1(908) 872-7635
$1,599,000
Est. payment /mo
5,000 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 5,000 sqft

Price per Sqft $319

MLS Listing ID 3969074

Annual Tax Amount $26,621

Tax Year 2024

Lot Size 4,791 Sqft

Property Sub-Type Mixed Use

Property Description

LOCATION, LOCATION, LOCATION!Located directly across from Newark Town Hall, this rare investment opportunity is perfect for builders and investors looking to capitalize on one of the city?s most sought-after commercial streets. The property currently operates as a Crown Fried Chicken (owned by the seller) and a nail salon generating $4,000/month in rental income. The property can be delivered fully vacant, offering flexibility for the buyer to reimagine its use. Development Opportunity: Per seller (buyer to conduct due diligence), zoning allows for the construction of up to 4 floors plus a ground floor, accommodating 12 residential units and 2 commercial spaces. This property is a true gem for investors and developers seeking to expand their portfolio. With unmatched location and versatile development potential, it?s a chance to create a significant asset in Newark?s bustling urban landscape.

Location

State NJ

County Essex

Zoning COMMERCIAL

Rooms

Basement Full, Walkout

Interior

Heating Gas-Natural

Cooling See Remarks

Flooring Laminate

Equipment Appliances, Fire Alarm, Fixtures, Kitchen Area, Refrigeration Unit, Restrooms - Private, Smoke Detector, Storage Area(s)

Heat Source Gas-Natural

Exterior

Exterior Feature Aluminum

Utilities Available All Underground

Roof Type Flat

Building

Story 3

Sewer Public Sewer

Water Public Water

Others

Ownership Fee Simple

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Garden State MLS(GSMLS)
Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.
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Giovanni Maggipinto

+1(908) 872-7635

Realtor Associate | License ID: 1644529

Realtor Associate License ID: 1644529

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