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New
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$1,450,000

For Sale

8 hours ago

699-701 Frelinghuysen Ave, Newark, NJ

House

MLS® 26031920

0 Bed

0 Bath

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  • Key Facts
  • Description
  • Map

Key Facts

Type Retail
Levels Commercial Sale
Size -
Garage 
Taxes $10,222
Days Active 0
Lot Size 
Approx. Age 
MLS® Number 26031920

Property Address: 699-701 Frelinghuysen Ave, Newark, NJ, 07114-1366

Average square foot calculated using Size range provided by listing agent.

Description

Positioned directly adjacent to the Lionsgate development, this mixed-use commercial building offers investors a rare value-add opportunity in one of Newark's most active growth corridors. The ground floor features a cigar shop operating under an active lease, delivering immediate in-place income from day one, alongside a separate vacant warehouse space with adjoining office area ready for an owner-user, new tenant, or repositioning to suit market demand. The second floor holds 6 residential units offering significant upside through lease-up, renovation, and rent stabilization to market rates. This is a true value-add play ”” a stabilized retail anchor providing carrying income while the vacant warehouse/office and residential units offer multiple paths to increase NOI, whether through lease-up of the vacant commercial space, unit-by-unit renovation of the second floor, or a broader repositioning of the asset to capture rising rents in the immediate area. Its location next to Lionsgate places the property directly in the path of one of Newark's most significant nearby developments, with the surrounding neighborhood poised to benefit from that growth, making this an ideal fit for value-add investors, owner-users seeking commercial space with income-producing upside, or investors looking to build a multifamily/commercial hold in an emerging Newark submarket.
MLS® Number26031920
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age
Basement
Driveway
Garage Spaces
HeatGas, Other/See Remarks
A/C

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Aug 24, 2026List Date
$1,450,000List Price
  • Commute

Commute

Starting Address
Destination Address
699-701 Frelinghuysen Ave, Newark, NJ

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