72 IRVINE TURNER BLVD NEWARK NJ 07103-2950
100% Leased | 8% Going-in Cap
Marketing description
- 2 occupied retail units
- 5 year lease terms covering some of taxes
- 8% going-in cap rate that will grow to a 9% cap at the end of first lease term.
- Next door to new construction Art of Newark and high density housing providing foot traffic.
Investment highlights
72 Irvine Turner Blvd is a 1,700 SF retail property configured into two units, offering both in-place income and upside potential. One unit is newly renovated and currently occupied by a barbershop, providing stable cash flow, while the second unit is in lease negotiations, presenting an opportunity for lease-up or an owner-user. The building is equipped with new seperate
electric meters and boilers.
Strategically located along Irvine Turner Blvd, the property sits within a rapidly evolving corridor surrounded by new residential developments, established retail, and increasing foot traffic. Its position in a growing neighborhood, combined with strong visibility and accessibility, makes it an attractive opportunity for investors and users looking to capitalize on Newark’s continued revitalization.
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