#24019827, Michael N. Rosa, Listing Office: Rosa Agency-Ironbound, LLC
Property details
About 895-897 Broad St
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!
Highlights
Summary
- MLS Number: 3943058
- Office Name: REAL
- Office Phone: (973) 474-0052
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$1,990,000
895-897 Broad St
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Price information
Property sales
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Nearby schools
1
East Ward Elementary School
Public District PK-3
0.5 mi
•104 Oliver St
4
Newark Educators Community Charter School
Public Charter PK-4
0.6 mi
•9-11 Hill St
5
Sir Isaac Newton Elementary School
Public District PK-1
1.1 mi
•150 Newton St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $17,529. Residents of Newark City, NJ typically earn less than $<35k each year. Typical family type is single, no kids. Residents of this area typically have high school diploma education.
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Frequently asked questions
About 895-897 Broad St
This home is located at 895-897 Broad St in Newark City, NJ and zip code 07102 in the Central Ward neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since January 27, 2025 and is currently priced at $1,990,000.
The inventory of homes for sale in Newark City, NJ between January and February 2025 increased by 18.4%. In February 2025, listings were on the market for 100 days. During the same period, the median list price in this real estate market was $495,000.