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Commercial Sale For Sale

199 Summer Avenue, Newark, NJ 07104

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Property Description

Exceptional mixed-use investment opportunity in North Newark! This well-maintained two-unit property offers strong, stable cash flow with long-term tenancy in place and significant upside for investors seeking a turnkey asset. The ground-floor commercial space is occupied by a successful neighborhood grocery store with 12 years remaining on the lease, providing reliable income and built-in 3% annual rent increases. The business is NOT for sale. The second-floor residential unit features 4 bedrooms, 1 full bathroom, den/office and is currently rented on a month-to-month basis, offering flexibility for future rent adjustments or owner-user possibilities. Current rental income: Commercial Unit: $3,550/month (12 years remaining, 3% annual escalations) Residential Unit: $2,420.50/month (month-to-month)With low annual taxes of just $9,573.61 and a desirable mixed-use configuration, this property delivers excellent cash flow potential and long-term income growth. Conveniently located on a busy street with strong visibility, consistent foot traffic, and easy access to major highways, public transportation, shopping, and local amenities.

Basic Details
Property Type:
Commercial Sale
Listing Type:
For Sale
Listing ID:
26021207
Price:
$649,500
Status:
Active
Office Name:
RE/MAX Professionals 1
Agent Name:
Jeanette
Features
Architectural Style:
Industrial
Utilities:
Sep Elec, Sep Gas, Seperate Heat
Address Map
Country:
US
State:
NJ
County:
ESSEX
City:
Newark
Zipcode:
07104
Street:
Summer
Street Number:
199
Street Suffix:
Avenue
Longitude:
W75° 49' 41''
Latitude:
N40° 45' 30.1''
Additional Information
On Market Date:
2026-06-08
Financial
Tax Annual Amount:
9573
Listing Information
List Agent Mls Id:
1022066
List Office Mls Id:
2660
Mls Status:
Active
Modification Timestamp:
2026-06-08T23:08:57Z
Originating System Name:
njmls
Status Change Timestamp:
2026-06-08
Commercial Sale For Sale
Listing ID:
26021207
$649,500
Agent info
Contact Agent

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Address: 637 Wyckoff Ave, 2nd Floor, Office 1
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Phone: 201-891-8200
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