199 Summer Ave, Newark, NJ 07104-2628
- Beds
- 4
- Baths
- 2
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Overview
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.
Location
Full feature list
Basic info
- Property type
- Multi-family
- Number of bedrooms
- 4
- Number of bathrooms
- 2
- Lot size (acres)
- 0.06
- Year built
- 1920
Interior features
- Basement
- Yes
Exterior features
- Horse amenities
- Stable
Utilities
- Sewer
- Public Sewer
- Water
- Public Water
Taxes
- Tax Annual Amount (2025)
- $9,573
Public schools
Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.
Sourced from: Garden State MLS MLS®#: 4032954 Last checked: …

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