www.crexi.com - The Commercial Real Estate Exchange
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
33862454
33862453

246 Mulberry Street, Newark, NJ 07102

DC
0681077
eXp Commercial
Listed by eXp Commercial
$700,000
2 days on market
Updated 2 days ago
Opportunity zone

246 Mulberry Street

Details
Property Type Retail, Hospitality
Sub Type Restaurant
Square Footage 1,800
Cap Rate 6.04%
NOI $42,312
Tenancy Single
Lease Type Gross
Lease Term 3
Lease Expiration 06/30/2027
Remaining Term 2
Rent Bumps Yes
Stories 1
Lot Size (SqFt) 2,328
Zoning Redevelopment
Investment Type Redevelopment
Tenant Credit Credit Rated
Lease Commencement 01/01/2025
Ground Lease No

Prime Property in Redevelopment Zone

Marketing description

An exceptional turnkey opportunity awaits in this premium 1,800 sf commercial property located in a redevelopment zone. The linear layout maximizes every inch, transitioning from a main lounge into a back-of-house setup and an outdoor oasis. The main lounge area blends contemporary urban flair with upscale comfort. Sleek, marble-patterned flooring spans the interior, contrasted against striking brick feature walls and textured masonry. A prominent dry bar anchors the room, boasting a slatted-wood facade and glass shelving. Accompanied by premium leather booths, this space provides an intimate atmosphere for an upscale lounge experience, complete with two private bathrooms. Behind the scenes, the establishment features a functional prep kitchen designed for quick service. The stainless steel-lined kitchen includes a multi-compartment sink, dedicated glassware shelving, and refrigeration space. In the back of the property you'll discover a spectacular enclosed patio that functions as a private urban escape.

Investment highlights

Tenant in 2nd year of 3 year lease with graduated increases in gross lease.

Listing Contacts

DC
0681077
eXp Commercial
Listed by eXp Commercial

Valuation Calculator

Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$42,312.00
$3,526.00/mo

Valuation Metrics

0
DSCR
6.04%
Cap Rate
6.04%
ROI

Map

Zoning

Intelligence Badge
RDV SpecialRedevelopment Zone
View municipality zoning documents
Upgrade to see the zone description and what's allowed on this property
Upgrade to search and view land use codes
Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics

Broker Selected Comps View More Comps

Property History

Intelligence Badge

Tax History

Intelligence Badge

Similar Properties

View All
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
Is there information that looks off?
For assistance, reach out to our support team at [email protected] or call 888.273.0423 . For press inquiries, contact [email protected]
Equal Housing Opportunity
5510 Lincoln Blvd #400, Los Angeles, CA 90094Commercial Real Estate Exchange, Inc.Crexi Technologies, LLCCXTechnology, LLC
© 2026 Commercial Real Estate Exchange, Inc. All Rights Reserved. DRE #02086591