895-897 Broad St | Newark City

$1,990,000 | 3 Baths (3 Half) | 5,000 Sq. Ft.

LOCATION, LOCATION, LOCATION!Located directly across from Newark Town Hall, this rare investment opportunity is ideal for builders and investors looking to capitalize on one of the most desirable commercial streets in the city. The property is currently home to a Crown Fried Chicken (owned by the seller) and a nail salon, which generates $4,000 per month in rental income. However, the property can be delivered fully vacant, providing maximum flexibility for the buyer to reimagine its use. Per the seller's claims (buyer to conduct their own due diligence), the zoning allows for the construction of up to four floors plus a ground floor, which could accommodate 12 residential units and two commercial spaces. The true value lies in the property's prime location and development potential, making it a perfect addition to any investor's or developer's portfolio. Don't miss this opportunity to secure a high-visibility property in Newark's thriving urban landscape schedule your showing today! GSMLS 3943045

Directions to property: BROAD ST AND WILLIAM ST INTERSECTION

MLS Listing ID: 
GSMLS 3943045
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Status (Local): 
Active
Listing Status Accepting Offers: 
1
Building Details
Details about the building on a property.
Stories: 
2
Year Built: 
9999
Living Area: 
5,000
Basement: 
Full, Storage
Construction
Construction Materials: 
See Remarks
Roof: 
Flat
Exterior: 
Concrete
Energy Information: 
All Underground
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
3
Total Half-Bathrooms: 
3
Utilities
Information about utilities available on the property.
Heating System: 
Floor/Wall Heater
Heating System Fuel: 
Gas-Natural
Cooling System: 
Wall A/C Unit(s)
Water Source: 
Public Water
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.11
Lot Size (Dimensions): 
30.10X166
Waterfront: 
0
Lot Features
Driveway: 
None, On-Street Parking
Parking Type: 
None, On-Street Parking
Total Parking Spaces: 
0
Public Record
Parcel Number: 
1614-00093-0000-00017-0000-
Lot Number: 
17
Annual Tax: 
$26,621.00
Property Zoning: 
COMMERCIAL
Listing Dates
Dates involved in the transaction.
Listing Entry Date/Time: 
1/26/2025
Contract Details
Details about the listing contract.
Inclusions: 
Building & Business, Building & Land, Equipment
Possession: 
ASAP
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Office Name: 
REAL