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$1,695,000
Est. payment /mo
10,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 10,000 sqft
Price per Sqft $169
Municipality Newark (NEW)
MLS Listing ID 22613733
Annual Tax Amount $29,117
Tax Year 2025
Lot Size 3,920 Sqft
Acres 0.09
Lot Dimensions 44.9 x 96.8
Property Sub-Type Commercial
Source MOREMLS (Monmouth Ocean Regional REALTORS®)
Property Description
Positioned in the core of Downtown Newark's main commercial corridor, 118-122 Market Street offers a 8,000 SF asset with immediate value-add and long-term Redevelopment upside for mixed use. Surrounded by major anchors including Prudential Financial, Prudential Center, New Jersey Performing Arts Center, Rutgers University-Newark, and New Jersey Institute of Technology, the property sits in a rapidly evolving, transit-oriented district driven by residential growth and redevelopment.
Two attached commercial units. Flexible second-floor layout ideal for conversion. Basement storage supporting retail or redevelopment.
Best suited for a developer to build residential for surrounding Universities and Business District employees.
Two attached commercial units. Flexible second-floor layout ideal for conversion. Basement storage supporting retail or redevelopment.
Best suited for a developer to build residential for surrounding Universities and Business District employees.
Location
State NJ
County Essex
Area Newark
Building/Complex Name None
Direction GPS-Maps
Exterior
Parking Features On Street
Private Pool No
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 14-00060-0000-00035
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Listed by Realty Of America
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Melissa DeSantis
Broker Associate | License ID: 571006
Broker Associate License ID: 571006