146 Sherman Ave new Save Request In-Person Tour Request Virtual Tour
Newark City,NJ 07114
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3972297
Year Built 1920
Annual Tax Amount $5,540
Tax Year 2024
Lot Size 2,613 Sqft
Property Sub-Type Mixed Use
Property Description
Opportunity knocks in the heart of Newark! 146 Sherman Ave is a recently renovated mixed-use four-unit property featuring one ground-floor retail space and three residential apartments. All tenants are currently on month-to-month leases, offering both stability and flexibility for investors or owner-users.Grocery store tenant is long-standing and interested in renewing lease. More details available upon request to qualified buyers.Bonus income from four rear garage units, currently rented at $100/month each, further boosts your returns. With low operating expenses and a strong in-place Net Operating Income of over $65,000 annually, this is a turnkey asset in a rapidly developing area.Whether you're looking to add a solid cash-flowing investment to your portfolio or seeking a live-work opportunity, this property checks all the boxes.
Location
State NJ
County Essex
Zoning R-3
Rooms
Basement Unfinished
Interior
Heating Gas-Natural
Cooling Central Air
Equipment Appliances, Fire Alarm, Smoke Detector
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Utilities Available Electric, Gas-Natural
Roof Type Asphalt Shingle
Building
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple