199 Summer Ave, Newark City, NJ 07104
199 Summer Ave, Newark City, NJ 07104
199 Summer Ave, Newark City, NJ 07104
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
Naveen Sharma

Naveen Sharma

+1(732) 429-0939
$649,500
Est. payment /mo
4 Beds
1.5 Baths
2,613 Sqft Lot
Save

UPDATED:

Key Details

Property Type Multi-Family, Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 4032954

Style 2-Two Story

Bedrooms 4

Full Baths 1

Half Baths 1

Year Built 1920

Annual Tax Amount $9,573

Tax Year 2025

Lot Size 2,613 Sqft

Property Description

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

State NJ

County Essex

Rooms

Basement Bilco-Style Door

Interior

Heating Gas-Natural

Cooling 1 Unit, Window A/C(s)

Heat Source Gas-Natural

Exterior

Exterior Feature Aluminum Siding

Utilities Available Gas-Natural

Roof Type Flat

Building

Sewer Public Sewer

Water Public Water

Architectural Style 2-Two Story

Others

Senior Community No

Read Less Info
Garden State MLS(GSMLS)
Information deemed reliable but not guaranteed. Copyright © 2026 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by RE/MAX PROFESSIONALS I

GET MORE INFORMATION

Name

Name

Phone*

Phone

Message

Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Naveen Sharma, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

Naveen Sharma

+1(732) 429-0939

naveen@fourpointrealty.com

Re-Pic (7)

Go tour this home

199 Summer Ave