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Ataullah Barnes

ataullah@rogprodigy.com +1(973) 277-2575

$4,800,000

Est. payment - /mo

39,500 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 39,500 sqft

Price per Sqft $121

MLS Listing ID 4004798

Year Built 1900

Annual Tax Amount $36,877

Tax Year 2024

Lot Size 3,484 Sqft

Property Sub-Type Mixed Use

Property Description

Price Adjustment to reflect a 6.25% CAP RATE. 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.

Location

State NJ

County Essex

Zoning Redevelopment

Rooms

Basement Full

Interior

Heating See Remarks

Cooling See Remarks

Equipment Sign - Roof

Heat Source See Remarks

Exterior

Exterior Feature Aluminum, Brick

Utilities Available All Underground

Roof Type Flat

Building

Lot Description Corner

Story 3

Sewer Public Sewer

Water Public Water

Others

Ownership Fee Simple

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Listed by EXP REALTY, LLC

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Ataullah Barnes

+1(973) 277-2575

Broker | License ID: 0454603

Broker License ID: 0454603

218 Mulberry St Newark City, NJ 07102

Ataullah Barnes

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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218 Mulberry St