REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,990,000
Est. payment /mo
Active
895-897 Broad St Newark City, NJ 07102
4,791 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3943058
HOA Y/N No
Annual Tax Amount $26,621
Tax Year 2024
Lot Size 4,791 Sqft
Property Description
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!
Location
State NJ
County Essex
Building
Sewer Public Sewer in Street
Water Public Water in Street
Others
Senior Community No
Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by REAL
GET MORE INFORMATION
QUICK SEARCH